Published Study Shows 81% of Women Want SpectRx Non-Invasive Cervical Cancer Test to Replace Pap Test.

Business Editors

NORCROSS, Ga.--(BUSINESS WIRE)--Dec. 10, 2003

87% would recommend the test to a friend;

85% want their doctor to have the test

Eighty-one percent of women tested with SpectRx's (OTCBB: SPRX) non-invasive cervical cancer detection prototypes wanted the test to be used as a replacement for the invasive Pap test, according to a study published in the current edition of the Journal of Lower Genital Tract Disease. Additionally, 87 percent of women who took the SpectRx test would recommend it to a friend who is to undergo an exam for cervical disease.

More than 96 percent of women surveyed favored the SpectRx test as a method for locating the presence of disease and reducing the number of biopsies. Additionally, the study reported that 85 percent of participants wanted their doctor to have the test and 91 percent wanted their insurance company to pay for it. Clinical studies, supported by the National Cancer Institute, reported that the SpectRx test detected 16 percent more high-grade precancers than Pap tests, the majority of which were the thin layer Pap tests.

"Results this highly favorable are virtually unheard of in the world of medical diagnostics and indicate that our method of using light to non-invasively test for cervical disease will be highly desired by women," said Keith D. Ignotz, SpectRx, Inc. senior executive vice president, who is responsible for the company's Guided Therapeutics cancer business subsidiary. "We believe that when this product is available it will be a practice builder for physicians, improve the efficiency and reduce the cost to the health care system by eliminating unnecessary biopsies and provide a more compassionate method of cervical disease diagnosis for women."

The study was conducted at the Medical College of Georgia Gynecologic Cancer Prevention Center by principal investigator Daron G. Ferris, MD. A group of 176 women who completed the non-invasive test and a colposcopic examination completed a 24-item questionnaire, which included a series of questions regarding their willingness to use or recommend the test. Guided Therapeutics provided the device for the trial, but did not provide any financial assistance for the independent study.

Guided Therapeutics, Inc., which is focused on commercializing non-invasive cancer detection technology, is a wholly owned subsidiary company of SpectRx, Inc. As part of its strategy to separate its diabetes and cancer opportunities, SpectRx intends to separately privately finance Guided Therapeutics.

The Guided Therapeutics non-invasive cervical cancer detection device uses proprietary technology to identify cancers and precancers painlessly and non-invasively by analyzing light reflected from the cervix. The device creates an image of the cervix that highlights the location and severity of disease. The technology distinguishes between normal and diseased tissue by detecting biochemical and morphological changes at the cellular level. Unlike Pap or HPV tests, the Guided Therapeutics test does not require a tissue sample or laboratory analysis, and results are available immediately. To date, more than 1,000 women have been tested with prototypes of the Guided Therapeutics non-invasive cervical cancer detection devices, with results indicating improved results over conventional tests.

According to published reports, cervical cancer is the third most common cancer among women worldwide. Globally, there are approximately 471,000 cases of cervical cancer diagnosed annually and approximately 233,000 deaths per year. Approximately 60 million Pap tests are performed annually in the United States. The company estimates the annual global market potential for a non-invasive cervical cancer test to be over $1.0 billion.

SpectRx, Inc. (OTCBB: SPRX) is a diabetes management company developing and providing innovative solutions for insulin delivery and glucose monitoring. SpectRx markets the SimpleChoice(R) line of innovative diabetes management products, which include insulin pump disposable supplies. These FDA-cleared products complement its developmental consumer device for continuous glucose monitoring. SpectRx also plans to commercialize its non-invasive cancer detection technology through direct funding of its Guided Therapeutics subsidiary. For more information, visit SpectRx's web sites at www.spectrx.com and www.mysimplechoice.com.

The Guided Therapeutics test is an investigational device and limited by federal law to investigational use.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. A number of the matters and subject areas discussed in this report that are not historical or current facts deal with potential future circumstances and developments. The discussion of such matters and subject areas is qualified by the inherent risks and uncertainties surrounding future expectations generally and also may materially differ from SpectRx's actual future experience involving any of or more of such matters and subject areas. SpectRx has attempted to identify, in context, certain of the factors that it currently believes may cause actual future experience and results to differ from SpectRx's current expectations regarding the relevant matter or subject area. Such risks and uncertainties include: the ability of SpectRx to continue as a going concern, the early stage of products in development, the uncertainty of market acceptance of products, the uncertainty of development or effectiveness of distribution channels, the intense competition in the medical device industry, the uncertainty of capital to develop products, the uncertainty of regulatory approval of products, dependence on licensed intellectual property, as well as those that are more fully described from time to time in SpectRx's reports under the heading "Risk Factors" filed with the SEC, including SpectRx's Annual Report on Form 10-K for the fiscal year ended December 31, 2002 and subsequent quarterly reports.