OmniCorder Technologies Announces Consulting Agreement with and Acquisition of Key Patent from Dr. Michael Anbar.

BOHEMIA, N.Y. -- Founding Scientist Returns to Company to Provide Technology Expertise and Enhance New Product Development

OmniCorder Technologies, Inc. (Bulletin Board Symbol: OMCT) today announced that the company has entered into a consulting agreement with Dr. Michael Anbar, the founding scientist of the company. As part of this agreement the company will acquire a key patent on complimentary technology developed and held by Dr. Anbar. He will work closely with senior management to provide support and assistance to advance the company's commercialization strategy, expand its clinical applications and enhance new product development efforts.

OmniCorder Technologies will obtain U.S. Patent 5,771,261 from Dr. Anbar, which comprises methods and apparatus for assessment of mental stress effects involving the measurement of periodic changes in skin perfusion. Using a remotely mounted infrared camera, dynamic area telethermometry (DAT) measures the autonomic nervous activity by monitoring and quantitatively analyzing the modulation of cutaneous perfusion.

A pioneer and innovator, Dr. Anbar was the first to discover the presence of endogenous Nitric Oxide (NO) in the circulation of humans and other mammals. This was before anyone fully understood its biosynthesis, physiological activity or its role in neuromuscular transmission (including vasodilation). After 10 years of infrared and telethermometry research Dr. Anbar conceptualized Dynamic Area Telethermometry (DAT) and proposed the role of NO in skin hyperthermia associated with cancer, as well as the importance of NO in the progression of neoplastic disease. Since that time, Dr. Anbar's work in this area has been validated and confirmed by numerous independent studies, and is commonly accepted in medical science.

The imaging algorithms currently used in OmniCorder's BioScanIR(R) System were developed in 1996 by Dr. Anbar under a collaborative research program between SUNY/Buffalo and the research laboratories of the Department of Defense (DOD) at Walter Reed Army Institute of Research (WRAIR). Dr. Anbar was the first to introduce the use of quantum well infrared photodetectors (QWIP) in biomedical research. Dr. Anbar demonstrated the possibilities of using DAT to assess changes in skin perfusion as well as sympathetic neurological effects on hemodynamics. He further demonstrated the potential of using DAT to assess mental stress on the face of human subjects and explored the use of DAT for detection of breast cancer;

Dr. Anbar began his career at the prestigious Weizmann Institute of Science after receiving his M.Sc. and his Ph.D. in Physical Chemistry from Hebrew University, Jerusalem. Throughout the 1960s and 1970s, Dr. Anbar was a consultant to both the Israeli Atomic Energy Commission and the U.S. Atomic Energy Commission where he served in an advisory capacity and for which he won numerous awards and honors. Thereafter, Dr. Anbar joined NASA's Ames Research Center as a Senior Research Associate of the National Research Council/National Academy of Science. Dr. Anbar then moved to Stanford Research Institute where he held several senior research positions and where he established and served for over five years as the Director of the Institutes' Mass Spectrometry Research Center. In 1977, Dr. Anbar was recruited to SUNY/Buffalo to Chair its Department of Biophysical Sciences. During his tenure at SUNY/Buffalo, Dr. Anbar has held numerous senior level academic and administrative positions.

The author of six books and over 280 published papers, Dr. Anbar has received millions of dollars in grants to further his scientific work, and holds 15 U.S. patents on technologies he has developed.

"We are delighted to have Dr. Anbar return to the company as a scientific advisor. He is the world's leading authority on dynamic area telethermometry and its integration with infrared imaging to provide meaningful medical diagnostics and treatments. We hope to build on his in-depth knowledge of the technology and its practical clinical applications to advance our commercialization strategy, expand our clinical applications and drive new product development efforts," stated Denis A. O'Connor, President and Chief Executive Officer of OmniCorder Technologies, Inc.

Commenting on the practical applications of the newly acquired patent technology, Dr. Anbar explained, "When people get 'nervous' their sympathetics 'act up' and they blush (vasodilate) or become pale (vasoconstrict). A DAT test of the face proves to be a superior 'lie detector' test since emotional stress is reflected in an autonomic nervous response that can be measured remotely. DAT is much more sensitive than any visual assessment of skin color or instrumental measurement of diaphoresis. Not only is it more reliable than currently used polygraph tests, but its non-contact administration is simple and innocuous. Furthermore, the same device can be used to meet the needs of a variety of psychiatric and psychological evaluation problems, including depression, drug addiction and dementia, as well as for psychological learning disabilities.

"I am confident that my scientific achievements and proprietary technologies will best be commercially advanced and capitalized on by OmniCorder Technologies, a company I helped found. It is with great pleasure that I return to the company, and I look forward to working with the new CEO and management team to bring my technologies' potential to fruition," concluded Dr. Anbar.

The BioScanIR System:

The Company's BioScanIR System is a functional medical imaging modality that provides a fast, non-invasive, radiation free method for detecting and managing a wide variety of diseases that affect blood perfusion -- such as cancer and vascular disease -- by detecting minute changes in temperature based on the pattern of infrared photon emissions over time. The detector technology used in the system, known as a Quantum Well Infrared Photodetector (QWIP), was originally developed for the Department of Defense by NASA's Jet Propulsion Laboratory. The Company owns an exclusive, worldwide license to use the technology for biomedical applications.

OmniCorder has successfully used the BioScanIR System in a number of key medical markets, including: Breast Cancer Detection, Cancer Therapy Monitoring, Drug Discovery, Neurosurgery and Reconstructive Surgery. The System has the potential to cost-effectively improve disease detection, enhance clinical decision making and improve therapy management in a vast number of medical applications.

About OmniCorder Technologies, Inc.:

OmniCorder Technologies Inc., headquartered in Bohemia, New York, is a leading developer of functional medical imaging applications using advanced infrared focal plane arrays. OmniCorder provides imaging technology for clinicians and researchers for drug discovery, disease detection and disease management applications.

OmniCorder's mission is to improve the quality and cost-effectiveness of healthcare services and research through identifying, acquiring and adapting high-resolution infrared technology for biomedical applications.

This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, the ability of the Company to develop effective new products and receive governmental approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.