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CRYOMEDICAL SCIENCES ANNOUNCES FISCAL YEAR 1993 BUSINESS AND FINANCIAL RESULTS; 35 CMS ACCUPROBE SYSTEMS SOLD; ORDER BACKLOG TOPS $10 MILLION

 ROCKVILLE, Md., Aug. 3 /PRNewswire/ -- Cryomedical Sciences, Inc. (NASDAQ-NMS: CMSI), reported today that it shipped 19 CMS AccuProbe Systems in the fourth quarter of fiscal 1993, for a total of 35 systems sold in the year ended June 30, 1993. Cryomedical also reported that operating revenues of $3,130,011 for the fourth quarter exceeded total revenues for the first three quarters of the year. For the year ended June 30, 1993, the company reported $5,875,827 of operating revenues, including $100,000 from research grants. The company sustained a net loss of $1,699,632 for the three months ended June 30, 1993, compared with a net loss of $1,590,935 in the year-ago period, and a net loss of $6,588,418 for the year ended June 30, 1993, compared with a net loss of $4,749,982 for the year ended June 30, 1992. The higher losses in the 1993 periods reflect increased product development, manufacturing, and sales and marketing activities to support the introduction of the company's first product, the CMS AccuProbe System.
 Commenting on the results, Ted Pennington, Cryomedical's vice president, finance and administration, said: "We are pleased with our business results for fiscal 1993, which was our first full year of sales and manufacturing. Our shipments were on target with the plan for the fiscal year, and we ended the year with an order backlog of over $10 million, which includes 41 AccuProbe Systems and 12,000 disposable probes. This is an excellent base on which to build our business for fiscal 1994." According to Pennington, Cryomedical has recently expanded its manufacturing capacity to approximately 100 AccuProbe Systems annually at its Rockville facility and plans further expansion over the next few months.
 The CMS AccuProbe system is a surgical device used to perform minimally invasive cryosurgery for prostate and liver cancer. The device was introduced in June 1992 and to date over 800 procedures have been performed in the United States using the device. The AccuProbe utilizes super-cooled liquid nitrogen circulating through disposable probes to freeze and destroy cancerous tissue which is then absorbed by the body over time. The minimally invasive procedure reduces hospitalization time and significantly reduces health-care costs.
 Cryomedical Sciences, Inc., is a leader in the research, development, manufacture and marketing of products in the field of hypothermic (low-temperature) medicine. In addition to the development and marketing of cryosurgical products, the company is also investigating blood substitute solutions which may permit "bloodless" surgery in the future and improve organ transplantation techniques.
 CRYOMEDICAL SCIENCES, INC., AND SUBSIDIARY
 Consolidated Statements of Operations Data
 Three Months Ended Year Ended
 June 30, June 30,
 1993 1992 1993 1992
 (Unaudited) (Unaudited)
 Sales and
 Other Operating
 Revenue $ 3,130,011 $ -- $ 5,875,827 $ --
 Net Loss $(1,699,632) $(1,590,935) $(6,588,418) $(4,749,982)
 Net Loss
 Per Share $ (0.08) $ (0.07) $ (0.29) $ (0.26)
 Weighted average
 common shares
 outstanding 22,475,960 22,266,065 22,673,032 18,537,586
 -0- 8/3/93
 /NOTE TO EDITORS: CMS AccuProbe is a registered trademark./
 /CONTACT: Theodore D. Pennington of Cryomedical Sciences, Inc., 301-417-7070/
 (CMSI)


CO: Cryomedical Sciences, Inc. ST: Maryland IN: MTC SU: ERN

TW-MH -- DC015 -- 8891 08/03/93 12:06 EDT
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Date:Aug 3, 1993
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