Vasomedical-Sponsored Researcher Named Finalist in American Heart Association's 2002 Young Investigator Award Competition.

Business Editors

WESTBURY, N.Y.--(BUSINESS WIRE)--Nov. 20, 2002

Andrew D. Michaels, MD, Cited for Groundbreaking Work Explaining

Mechanism of Action of Enhanced External Counterpulsation Therapy

Vasomedical (Nasdaq Small Cap: VASO) today announced that Andrew D. Michaels, MD, Co-Director of the Adult Cardiac Catheterization Laboratory at the University of California at San Francisco (UCSF) Medical Center, was named a finalist in the American Heart Association's 2002 Samuel A. Levine Young Investigator Award Competition.

The award was presented on Tuesday, November 19, 2002 at the 75th Scientific Sessions of the American Heart Association (AHA) in Chicago.

Dr. Michaels was cited for his groundbreaking research into the hemodynamics of Vasomedical's EECP(R) external counterpulsation therapy. This research entitled, Left Ventricular Systolic Unloading and Augmentation of Intracoronary Pressure and Doppler Flow During Enhanced External Counterpulsation, published in the September 3rd issue of Circulation, the official journal of the AHA, and presented in a special session at the Scientific Sessions, verified the beneficial effects of enhanced external counterpulsation on coronary blood flow produced by the Company's EECP system. The researchers noted that the benefits achieved with EECP therapy were comparable to those achieved with intra-aortic balloon pumping, an invasive means of circulatory support commonly used by interventional cardiologists in the acute setting. The authors concluded that EECP might also serve as a potential mechanical assist device in the acute setting.

"Dr. Michaels' work was a rigorous study representing a scientific milestone for EECP, providing unequivocal evidence supporting the hemodynamic benefits of the therapy," said Photios T. Paulson, Chief Executive Officer of Vasomedical. "His research has greatly improved physician understanding of how and why EECP therapy works, and we are gratified that the American Heart Association has recognized the importance of his work by naming him a Young Investigator Award finalist."

The AHA's Young Investigator Awards were created to recognize outstanding endeavors by new investigators in research activities, and to encourage continued biomedical research careers broadly related to cardiovascular function and diseases, including basic science, integrated physiology and clinical problems.

About EECP - Enhanced External Counterpulsation

External counterpulsation has been studied for more than 40 years as a non-invasive method for the treatment of ischemic heart disease. Vasomedical's advanced, state-of-the-art EECP external counterpulsation system is comprised of an air compressor, a computer console, a set of cuffs and a treatment table. To receive treatment, patients lie down on the table and have their calves and lower and upper thighs wrapped in the cuffs. The system, which is synchronized to the individual patient's cardiac cycle, inflates the cuffs with air to create external pressure when the heart is resting (diastole) and deflates the cuffs just before the heart beats (systole). The system's action, which pulses counter to the heart's beating, increases blood flow to the heart muscle, decreases the heart's workload and creates a greater oxygen supply for the heart muscle while lowering the heart's need for oxygen.

Treatment is typically given in 35 one-hour-sessions over seven weeks and the benefits have been shown to persist for years. Researchers hypothesize that EECP may work by promoting the release of beneficial growth factors, improving the neurohormonal milieu within blood vessels and by encouraging the proliferation of collateral blood vessels. Vasomedical's EECP systems are the only counterpulsation devices shown in clinical studies published in major peer-reviewed journals to provide improvements in exercise capacity, peak oxygen consumption and quality of life.

EECP is currently reimbursed by Medicare and numerous private payers for the treatment of refractory angina. The reimbursement rate for a full course of 35 one-hour treatments ranges from $5,500 to $7,000. The Company estimates that one-third of the patients treated with EECP for refractory angina also have congestive heart failure.

About Vasomedical

Vasomedical, Inc. is primarily engaged in designing, manufacturing, marketing and supporting EECP external counterpulsation systems based on the Company's proprietary technology. EECP is a non-invasive, outpatient therapy for the treatment of diseases of the cardiovascular system, currently indicated for use in cases of angina, cardiogenic shock, acute myocardial infarction and most recently, congestive heart failure. The therapy serves to increase circulation in areas of the heart with less than adequate blood supply and may restore systemic vascular function. The Company is actively engaged in research to determine potential benefits of EECP therapy in the management of other major vascular disease states and diabetes. The Company provides hospitals, clinics and private practices with EECP equipment, treatment guidance and a staff training and maintenance program designed to provide optimal patient outcomes. EECP is a registered trademark for Vasomedical's enhanced external counterpulsation system. Additional information is available on the Company's website at www.vasomedical.com.

Except for historical information contained in this release, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this release, words such as "anticipate," "believe," "estimate," "expect" and "intend" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the impact of competitive products and pricing; capacity and supply constraints or difficulties; product development, commercialization or technological difficulties; the regulatory and trade environment; and the risk factors reported from time to time in the Company's SEC reports. The Company undertakes no obligation to revise any forward-looking statements as a result of future events or developments.