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DIAMETRICS MEDICAL ANNOUNCEMENT

 MINNEAPOLIS, Aug. 11 /PRNewswire/ -- Diametrics Medical, Inc. stated today that the company is aware that PPG Industries, Inc. filed a lawsuit in the United States District Court in Minneapolis against the company and certain of its officers and employees on Aug. 10, 1993, two days before the company's initial public offering was expected to close. The company, after consultation with the underwriters for its proposed initial public offering, has decided to withdraw its offering of common stock to allow a thorough review of the lawsuit. Although the allegations contained in the lawsuit are vague, it appears that PPG claims that the company and certain of its officers and employees, while developing the company's IRMA blood gas analyzer, misappropriated PPG trade secrets and infringed PPG's design patent for a blood gas analyzer. The company has referred the lawsuit to counsel, but believes it to be without merit. The company denies that it or its officers or employees have misappropriated PPG trade secrets or infringed upon PPG's design patent. The company will vigorously defend the lawsuit and pursue such actions as are appropriate.
 -0- 8/11/93
 /CONTACT: Michael F. Connoy, chief executive officer of Diametrics Medical, 612-639-8035/


CO: Diametrics Medical, Inc. ST: Minnesota IN: MTC SU:

AL -- MN001 -- 1529 08/11/93 09:07 EDT
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Publication:PR Newswire
Date:Aug 11, 1993
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