DiaSys Corporation Presents Additional Patent Claims for Bence Jones Rapid Test for Monitoring, Screening and Adjunctive Testing; Estimates $90 Million Market and $18 Million Revenues.

Business Editors/Health/Medical Writers

WATERBURY, Conn.--(BUSINESS WIRE)--May 24, 2004

DiaSys Corporation (AMEX:DYX) a global healthcare products company announced today that it has presented additional patent claims to its proprietary immunoassay to detect monoclonal light chains in urine. The disease states covered by such claims include monitoring, screening and adjunctive testing claims are Multiple Myeloma, Waldstrom's macroglobulinemia, MGUS (Monoclonal Gammopathy of Undetermined Significance), AL Amyloidosis and Fanconi's Syndrome.

In the United States, DiaSys Corporation projects total market revenue potential for monitoring these five disease states to be approximately $90 million per year based on a total population of approximately one million patients. Projected patient populations and potential revenues to DiaSys Corporation for screening and adjunctive testing in the United States and monitoring, screening and adjunctive testing in the European Community and Canada are being compiled.

Gregory Witchel, Chief Executive Officer of DiaSys Corporation stated, "Huge advances have been made in protein analysis techniques and monoclonal antibody development, which we believe will now enable the company to commercialize its patent technology. The potential market revenues of $90 million assumes 100% market acceptance and penetration for monitoring these five disease states in the U.S. Assuming 20% market acceptance and penetration, we can conservatively estimate annual potential revenues to the company of about $18 million per year."

Current testing methods are technically difficult, slow and expensive. In addition, the Bence Jones protein may go undetected in the urine when immunofixation electrophoresis is negative and the patient is not symptomatic. DiaSys's test is a unique, non-invasive dipstick format, measuring kappa and lambda light chains separately, with minimal operator time, reduced processing time, antibody linked specificity, high sensitivity, with all reagents included. It provides front line testing to screen and monitor candidates that fall under the monoclonal gammopathies heading; allowing further confirmatory testing, and the diagnosis and treatment process to be expedited.

There are 148,711 patients in the United States diagnosed with one of these disease states each year (American Cancer Society, 2000). Multiple Myeloma is the second most prevalent blood cancer after non-Hodgkin's lymphoma. Among the African American population, Multiple Myeloma is one of the top ten leading causes of cancer death.

DiaSys Europe is currently assessing the patient populations for these five disease states in the European Union, including the new member countries admitted May 1, 2004. New member countries add 75 million people to the EU bringing the population of European Community members to 455 million people.

DiaSys Corporation has also retained the right to develop the other disease states, which were filed in its original patent application, in the future. These include Micromolecular Myeloma, Chronic Lymphatic Leukemia, Lupus Erythematosus, and Acute Rheumatoid Arthritis.

DiaSys Corporation designs, develops, manufactures and distributes proprietary medical laboratory equipment, consumables and infectious disease test-kits to healthcare & veterinary laboratories worldwide. Headquartered in Waterbury, Connecticut USA, 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, Parasep and Urisep are registered trademarks of DiaSys Corporation.

This press release contains forward-looking statements within the meaning of, and made pursuant to, the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The 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.