Cardiac Science Closes Additional $20.8 Million Private Placement.

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IRVINE, Calif.--(BW HealthWire)--July 25, 2000

Cardiac Science Inc. (OTC:DFIB), the developer of Powerheart(R), the only hospital monitor that provides life-saving defibrillation within seconds and without the aid of hospital staff, Tuesday announced it raised approximately $20.8 million in a private placement of common stock from a group of U.S., Australian and Swiss institutional and private investors.

This capital is in addition to the $9.7 million Cardiac Science raised in June and completes the current financing round.

Institutional investors participating in the financing included Domain Associates, Hunt Financial Corp. and The Pratt Group. The offering was led by de Greef & Co. Inc., an international financial advisory firm.

In total, the company has received approximately $30.5 million in proceeds over the past two months through the sale of approximately 6.8 million shares of common stock at $4.50 per share, which represents an 18.5 percent discount to the 30 day average closing price of the company's common stock.

"Sophisticated investors have demonstrated their strong commitment to fund our marketing and product development initiatives," said Raymond W. Cohen, president and chief executive officer of Cardiac Science.

"The proceeds from this financing will be employed to drive adoption for our initial commercial product, the Powerheart, and to develop additional embodiments of our life-saving fully automatic defibrillation technology."

About Cardiac Science

Cardiac Science develops and markets life-saving external cardiac defibrillator devices and proprietary software that monitor and automatically treats cardiac arrest patients.

RHYTHMx ECD(TM) tachyarrhythmia detection and defibrillation software, the company's core proprietary technology platform, has multiple applications including use in external defibrillators, wearable defibrillators and standard patient monitors that are widely used in hospitals throughout the world.

Powerheart, Cardiac Science's first commercial product, continuously monitors in-hospital patients at risk of sudden cardiac arrest, instantly detects the onset of a life-threatening heart rhythm, and when appropriate, automatically delivers defibrillation shocks within seconds and without human intervention to re-establish the heart's normal rhythm.

The ability to respond to a life-threatening heart rhythm within seconds saves lives and minimizes a loss of oxygen to the brain, thereby eliminating potential neurological damage and a diminished quality of life that often occurs when defibrillation is withheld for even a few minutes.

Powerheart began shipping on Dec. 31, 1999 and is currently used to save lives in hospitals worldwide.

Cardiac Science's global sales network consists of prominent distributors in 41 countries encompassing Asia, the Middle East, Europe, South America and North America.

The company has an exclusive agreement with Medtronic Physio-Control, a division of Medtronic, Inc., the worldwide market leader in external defibrillator products, to distribute the Powerheart in the United States, Canada, and nine European countries.

In June 2000, Cardiac Science licensed its proprietary technology to Medtronic Physio-Control, the world's largest manufacturer of external defibrillators, for integration into Medtronic Physio-Control's LIFEPAK(R) products for the hospital market. For more information, visit http://www.cardiacscience.com/.

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Such forward-looking statements include, but are not limited to: the company's intended use of the proceeds of the financing; the Powerheart's safety and efficacy, its ability to increase survival rates for in-hospital cardiac arrest victims, its ability to improve patient-care and lessen patient debilitation; and the company's ability to successfully integrate its technology into Medtronic Physio-Control's LIFEPAK products. Cardiac Science cautions that these statements are qualified by various known and unknown factors that could cause actual results to differ materially from those reflected by the forward-looking statements. Such factors include, but are not limited to: future economic, regulatory, and market conditions; future business decisions; market and clinical users' acceptance of new and existing products; impact of competitive products and pricing; and changing market conditions. Information on these and other factors are detailed in the company's Form 10-K for the year ending Dec. 31, 1999 and other documents filed with the Securities and Exchange Commission. The Powerheart and RHYTHMx ECD are trademarks of Cardiac Science Inc. LIFEPAK is a trademark of Medtronic Physio-Control.