Dynacq International Earnings Up 41%.

Business Editors/Health & Medical Writers

BIOWIRE2K

HOUSTON--(BW HealthWire)--April 15, 2002

Dynacq International Inc. (Nasdaq:DYII) reported earnings per share (basic and diluted) for the second fiscal quarter ending Feb. 28, 2002 were $0.24 as compared to $0.17 the prior year, a 41% increase. Net income increased 47%, from $2,416,219 to 3,542,027. Net revenue was up 54%.

For the six months, Dynacq reported earnings per share were up 38%, $0.47 versus $0.34 (basic and diluted). Net income increased 45% while net revenue was up 55%.

Second Quarter               2/28/02          2/28/01      % Increase

Net Revenue                $15,036,293       $9,787,411          54%
Net Income                  $3,542,027       $2,416,219          47%
Earnings Per Share               $0.24            $0.17(a)       41%
 (Basic and Diluted)

(a) After 2-for-1 stock split


Six Months Ended             2/28/02          2/28/01      % Increase

Net Revenue                $28,890,824      $18,691,939        55%
Net Income                  $6,919,642       $4,788,338        45%
Earnings Per Share               $0.47            $0.34(a)     38%
 (Basic and Diluted)
Cash Provided By
 Operating Activities
 for 6 Months               $6,484,405       $3,418,406        90%

(a) After 2-for-1 stock split

Chiu M. Chan, chairman and CEO said, "Despite the pressures and problems created for management by the orchestrated market activity to depress Dynacq's stock price, management did not waver from its mission to provide high quality health care services and increase shareholder value. Our performance indicates that the orchestrated decline in Dynacq's share price had no operational validity and our consistent earnings continue to confirm Dynacq's strategy of same-store growth and selective expansion.

"We will not let outside factors diffuse management's focus," Chan said, "and we will seek to minimize any negative time and cost impact that these spurious situations have imposed on our growing company."

Dynacq International Inc. provides high quality surgical healthcare services and related ancillaries through state-of-the-art surgical hospitals and outpatient surgery centers.

Certain statements in this release are forward-looking. Although the Company believes its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results will not differ materially from its expectations. For factors that may cause results to differ materially from expectations and underlying assumptions, see reports by the Company filed with the Securities and Exchange Commission.

For more information, please see our Web site at http://www.dynacq.com or contact Mike Hudec of Dynacq at [e-mail].