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BIOMAGNETIC TECHNOLOGIES INC. ANNOUNCES THAT IT HAS COMMENCED A SEARCH FOR A NEW PRESIDENT

 SAN DIEGO, June 15 /PRNewswire/ -- Biomagnetic Technologies Inc. (NASDAQ: BTIX) today announced that it has commenced a search for a new president to direct the magnetic source imaging (MSI) company's transition from an R&D organization to a marketing-driven company in an effort to expand commercial sales of its Magnes(R) biomagnetometer system.
 Stephen O. James, Biomagnetic Technologies Inc. (BTi) president and chief executive officer, made the announcement jointly with the BTi board of directors today in a prepared statement in response to a rumor that he was resigning:
 "I am not resigning as president and chief executive officer of Biomagnetic Technologies Inc. However, BTi is looking for a new president to assist the company to commercialize its Magnes system. This is a natural evolutionary step for BTi to take, and I fully support the board's decision to take this important step at this time," James said. James will remain president and chief executive officer of BTi until a new president is named. He will then serve the company as a consultant, and his new role will be defined taking into consideration the background and experience of the new president.
 The BTi board of directors is looking for a president with a strong marketing and sales background in the medical imaging business.
 Biomagnetic Technologies Inc. leads the world in the development and clinical applications of magnetic source imaging, a new mode of diagnostic imaging that localizes the source of bioelectrical activity in the brain and heart. Images generated by the biomagnetometer are being used today to precisely localize vital functional areas in the brain, such as the senses of touch and hearing, to assist neurosurgeons in non-invasive pre-operative planning, including pre-surgical functional mapping, localization of epileptic regions of the brain for surgical removal, early detection of stroke and transient ischemic attack (TIA), head trauma and vision and memory disturbances. BTi developed the first medical device utilizing MSI, and currently manufactures the third generation of this breakthrough device, the Magnes(R) biomagnetometer.
 -0- 6/15/93 R
 /CONTACT: Stephen James, president and CEO of Biomagnetic Technologies, 619-453-6300; or Lorraine Ruff of Stoorza, Ziegaus & Metzger, 619-236-1332, or (home) 619-755-5610, for Biomagnetic Technologies/
 (BTIX)


CO: Biomagnetic Technologies Inc. ST: California IN: MTC SU: PER

BP-JL -- SD001 -- 2450 06/16/93 07:58 EDT
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Publication:PR Newswire
Date:Jun 16, 1993
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