DiaSys Corp. Reports Fiscal First Quarter Results; Losses Decrease on 37% Increase in Revenues.

Business Editors/Health/Medical Writers

WATERBURY, Conn.--(BUSINESS WIRE)--Nov. 15, 2002

DiaSys Corporation (AMEX:DYX) today reported results of operations for the fiscal first quarter ended September 30, 2002, reflecting increased revenues and reduced losses.

Total revenues for the three months ended September 30, 2002 were $672,721, an increase of 37.4% over the $489,436 recorded for the same period in 2001. The gains were due to continued implementation of the Company's strategic selling plan expanding business throughout Europe, China, Pacific/Asia, South and Central America. Net loss for the quarter was $311,079 or a loss $0.03 per share compared to a net loss of $344,100 or $0.05 per share a year ago. Weighted average common shares outstanding for the quarter increased 51% to 10,674,971 from a year ago.

Todd M. DeMatteo, DiaSys President and CEO, said, "We are pleased with the progress of our global sales efforts and anticipate continued meaningful gains. We have a formidable manufacturing and marketing organization in place that will continue to make inroads for our products. In addition, with expenses under control we look for further reduced losses as we continue to carry out our strategy for expansion and move toward profitability."

DiaSys Corporation designs, develops, manufactures and distributes proprietary medical laboratory equipment, consumables and test kits to healthcare laboratories worldwide. Headquartered in Waterbury, Conn., the Company operates in Europe through its wholly owned subsidiary based in Wokingham, England and in Pacific Asia through its strategic business partner located in Guangzhou, China. DiaSys is a registered trademark of DiaSys Corporation.

The foregoing press release includes "forward-looking statements" within the meaning of, and made pursuant to, the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company or events, or timing of events, relating to the Company to materially differ from those expressed or implied by such forward-looking statements. DiaSys refers interested parties to its most recent Annual Report on form 10-KSB and other SEC filings for a complete description of, and discussions about, the Company.

                    DIASYS CORPORATION & SUBSIDIARY

                 Consolidated Statements Of Operations
                              (Unaudited)


                                     Three Months Ended September 30,
                                     --------------------------------

                                             2002             2001
                                         -----------       ----------


Revenue                                    $672,721         $489,436

Net Loss                                  $(311,079)       $(344,100)

Weighted Average
Shares Outstanding                       10,674,971        7,060,775

Basic and
Diluted Loss Per Share                      $ (0.03)         $ (0.05)