Coronado Industries Signs Second European Marketing Agreement for Glaucoma Treatment Device; Leading-Edge Technology Gains Entry into Growing Spanish Markets.

Business Editors

FOUNTAIN HILLS, Ariz.--(BUSINESS WIRE)--Nov. 17, 2003

Coronado Industries Inc. (OTC BB: CDIK), a manufacturer of unique, proprietary pneumatic devices for the treatment of glaucoma, announced today that the company has made a further major advance into the European markets by concluding a sales and distribution agreement with Izasa S.A. of Madrid, Spain (www.Izasa.es). Izasa S.A. is a privately held company with more than 20 years experience in the ophthalmic and optometric field and is the largest distributor of clinical and laboratory products, hospital products and medical devices in Spain.

The five-year exclusive agreement for distribution of Coronado Industries' patented PNT device in Spain was successfully negotiated by Dr. Francesco Aspes, Coronado Industries head of European distribution. The agreement is the second with a major European distributor to be signed by the Coronado team in recent weeks. The first was signed last month with Eupharmed (Rome) which provided for exclusive distribution throughout Italy and certain North African markets.

Gary Smith, president of Coronado Industries, said that the success of the agreements, which led to the entry of Coronado into these lucrative markets, must be credited to Dr. John Sharkey, Coronado's director of operations, and Aspes, who joined the Coronado team just five months ago. "During this short period of time, their focus and drive has made these first steps toward profitability possible. Our agreement with Izasa marks yet another milestone -- the second in what we expect will be a whole series of profitable relationships with major European distributors," said Smith. Due to ongoing negotiations with other potential distributors, specific financial terms of the agreement cannot be disclosed at this time.

"The ready availability and broad placement of PNT controllers is a key component of our strategy for the successful rollout of the technology into the marketplace," said Sharkey. Consistent with this strategy, the agreements already in place have commitments in excess of 400 controllers over the next four years. The single use, disposable PNT rings, which are required to perform the procedure, will also be ordered on a regular basis. "Additional controller sales will occur as our existing partners fully develop their respective markets and as we continue to enter into agreements with distribution partners in additional markets," said Sharkey.

Coronado Industries, through a wholly owned subsidiary, Ophthalmic International, focuses on the development of their patented procedure as a cost-effective alternative for the treatment of the most common types of glaucoma, which are open angle and pigmentary.

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.