Confirmation of Efficacy by Second Italian Study Site Reports Coronado Industries.

Business Editors

FOUNTAIN HILLS, Ariz.--(BUSINESS WIRE)--June 20, 2002

Coronado Industries Inc. (OTCBB:CDIK), a manufacturer of proprietary pneumatic devices for the effective treatment of glaucoma, today announced they received the following letter, in care of Leo D. Bores, study director for Coronado Industries, dated June 17, 2002, from Drs. Gianiuca Manni and Marco Centofanti, principal investigators from the second study site at the University Clinic of Ophthalmology in Rome.

We received a letter from Novartis Ophthalmics (NVO), informing us their decision to stop further research activities on the PNT project as this no longer falls in line with their research strategy.

NVO has also informed us of the transfer of all publication rights regarding the above trial to Coronado Industries and that it was now up to the Coronado Industries to decide with whom they want to publish the data. We would therefore be grateful if you could consider us as authors for publications resulting from data collected in the above trial.

Our experience with the PNT procedure can be outlined as follows:

At first we were very reluctant to take patients off established glaucoma treatments and let them go through the stress of a suction device that might bring no benefit to them.

Then we got these very amazing results of decrease in morning IOPs of 4-8 mm HG, in the treated eye, in the majority of patients a day after the first PNT.

Within the following week the IOPs rose rapidly again, without reaching the original values, and began to drop steadily, such that on Day 60 decrease in morning IOP of 5-8 mm HG were observed. On Day 90 this observation was again confirmed.

We did communicate to NVO that the rapid rise in IOP after Day 1 was most probably due to local inflammation caused by the suction ring and this could be reduced or even avoided by the prophylactic administration of anti-inflammatives.

Ten out of the 13 patients enrolled in our center have benefited from the treatment and we have received calls from patients in patients' organizations asking if they could participate in the trial. Unfortunately we have had to tell them that the trial was completed.

We are convinced that further trials to fine tune the PNT procedure could turn it into a major achievement in the treatment of POAG. Our colleagues here at the La Sapieza University would be very excited to take part in establishing such trials.

(end of letter)

"Having received this letter -- I can only state that we are very happy that all doctors in both sites share our enthusiasm for Pneumatic Trabeculoplasty (PNT(TM)) as a viable alternative treatment for Glaucoma.

"And that, armed with this study data -- we should be in a position to attract a suitable partner in our efforts to bring our device and treatment to market," said Gary Smith, president of Coronado Industries.

Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995.

Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the company's products, increased levels of competition for the company, new products and technological changes, the company's dependence on third-party suppliers, and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.