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ANGEION RELEASES SECOND QUARTER FIGURES

 MINNEAPOLIS, March 11 /PRNewswire/ -- Angeion Corporation (NASDAQ: ANGN) released its second quarter figures for the period ended Jan. 31, 1993.
 Angeion sales continued to be nominal as the company focuses its attention on developing its key products. Net sales grew to $39,511 for the second quarter ended Jan. 31, 1993 from zero sales in the second quarter ended Jan. 31, 1992.
 Angeion's research and development expenses for its AngeLase and AngeMed subsidiaries increased to $1,102,031 in the quarter ended Jan. 31, 1993 from $642,562 in the same quarter ended Jan. 31, 1992. The increase of $459,469 was due to continued acceleration of research and development activities. The second quarter 1993 operating loss from continuing operations increased to $1,398,467 from $904,328 in the prior year. During the second quarter, Angeion reported a gain of $173,899 on the sale of its Angeion Medical Products division. This gain reflects the quarterly performance-based payment net of expenses. Overall, the second quarter resulted in a net loss of $1,298,607, or $.13 per share for the quarter ended Jan. 31, 1993. This compares to a net loss of $1,048,751, or $.11 per share for the same quarter ended Jan. 31, 1992.
 "During the second quarter of Fiscal 1993, Angeion focused its activities on the development of our three products and the completion of a strategic alliance," said Wendell L. King, chairman and CEO. "We received an IDE (investigational device exemption) from the U.S. Food and Drug Administration (FDA) to begin human clinical trials of our laser catheter ablation system at the Carolinas Heart Institute in Charlotte, N.C. And we continued important work on the development of our fourth-generation implantable defibrillator."
 Angeion's third product, an external temporary pacemaker, is currently under FDA regulatory review.
 Since the close of the second quarter, two important events have occurred for the company. In February, Angeion entered into a licensing, marketing and manufacturing alliance for its defibrillator and laser catheter products with Siemens Pacesetter. The initial $5 million investment by Siemens included the purchase of 875,000 shares of convertible preferred Angeion stock at $4 per share and a $1,500,000 10-year convertible debenture. The agreement also provides for additional investment opportunities by Siemens of up to $3 million dependent on product development milestones.
 Angeion retained the rights to its patents and the right to manufacture and sell its devices under its own label.
 Earlier this week, Angeion announced the first successful nonsurgical use of its laser catheter ablation system in human clinical trials. The company will proceed with the FDA-approved trial and upon completion of the trial will apply to the FDA for approval to test the device at several centers around the country.
 Angeion continues to heavily invest in its patent portfolio for its products. At the end of the second quarter, the company had 12 patents allowed, 52 patent applications pending and an additional 18 applications in process.
 Angeion Corporation, through its subsidiaries AngeLase, Inc. and AngeMed, Inc., is exclusively focused on developing products to treat various types of arrhythmias (irregular heartbeats).
 ANGEION CORPORATION
 CONDENSED STATEMENTS OF OPERATIONS
 (Unaudited)
 Three Months Ended Six Months Ended
 1/31/93 1/31/92 1/31/93 1/31/92
 Net sales $39,511 -- $137,836 --
 Operating loss from
 continuing
 operations (1,398,467) (904,328) (2,698,960) (1,801,098)
 Net loss $(1,298,607)$(1,048,751) $(6,612) $(2,104,571)
 Net income (loss)
 per common
 share $(0.13) $(0.11) -- $(0.22)
 Weighted average
 number of shares
 outstanding 10,266,364 9,944,120 10,248,399 9,572,751
 CONDENSED BALANCE SHEETS
 (Unaudited)
 1/31/93 7/31/92
 Current assets $3,593,707 $4,414,118
 Patents, trademarks & other 662,879 556,683
 Property & equipment, net 1,025,745 934,345
 Total assets $5,282,331 $5,905,146
 Current liabilities $557,975 $1,424,692
 Long-term debt & capital
 lease obligations 21,072 76,045
 Shareholders' equity 4,703,284 4,404,409
 Total liabilities & equity $5,282,331 $5,905,146
 -0- 3/11/93
 /CONTACT: Brenda Roth of Angeion, 612-550-9388/
 (ANGN)


CO: Angeion Corporation ST: Minnesota IN: MTC SU: ERN

AL -- MN009 -- 5163 03/11/93 14:23 EST
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Date:Mar 11, 1993
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