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SPECTRAL DIAGNOSTICS INC. RAISES AN ADDITIONAL $1.2 MILLION

 SPECTRAL DIAGNOSTICS INC. RAISES AN ADDITIONAL $1.2 MILLION
 TORONTO, Oct. 6 /PRNewswire/ -- Spectral Diagnostics, Inc. (NASDAQ: DIAGF), the developer of a systems approach to cardiac diagnostics, reported today that it has received an additional $1.2 million in proceeds as a result of the exercise by Trinity Capital Securities Ltd., Toronto of its overallotment option of 97,500 units, totaling, U.S.$526,500, and the exercise by Interquest Technologies, Inc. (formerly "Interquest Resources Corporation"), Toronto, of warrants to purchase 772,499 shares, in the amount of Cdn.$700,000.
 With exercise of the overallotment and warrants, Spectral Diagnostics will have about 4.6 million shares outstanding,.
 Spectral Diagnostics, Inc., Toronto has developed a systems approach to cardiac diagnostics that includes its proprietary Cardiac Panel. The Cardiac Panel distinguishes, for the first time, heart from non-heart ailments and unstable angina from a myocardial infarction (heart attack) -- without the use or dependence on expensive laboratory equipment. Spectral's Cardiac Panel, slightly larger than a credit card, is easy to use, requires only a few drops of patient's blood and provides a differential diagnosis in approximately 8 minutes. Patent applications have been filed in 18 countries. The Cardiac Panel in combination with Spectral's library of cardiac proteins and antibodies will complete the systems approach to cardiac diagnostics.
 Spectral's common shares are listed on the NASDAQ Exchange in the United States, and The Canadian Dealing Network in Canada. Spectral's trading symbols are DIAGF (common shares) and DIAGWF (redeemable warrants) on the NASDAQ Exchange and SPTR (common shares) SPTR.WT (redeemable warrants) on the Canadian Dealing Network.
 -0- 10/6/92
 /CONTACT: Douglas C. Ball, chairman and CEO of Spectral Diagnostics, 416-626-3233, or Irving L. Straus, chairman of Straus Corporate Communications, 212-768-2477, for Spectral Diagnostics/
 (DIAGF) CO: Spectral Diagnostics Inc. ST: Ontario IN: MTC SU:


LR-TS -- NY008 -- 6906 10/06/92 08:15 EDT
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Publication:PR Newswire
Date:Oct 6, 1992
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