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CHERNE ANNOUNCES FIRST CLOSING OF ITS EQUITY PLACEMENT

 CHERNE ANNOUNCES FIRST CLOSING OF ITS EQUITY PLACEMENT
 MINNEAPOLIS, Dec. 11 /PRNewswire/ -- Cherne Medical (NASDAQ: CHNE)


announced today the initial closing on $850,000 in gross proceeds of the $1,850,000 private offering of equity securities. Concurrently with the initial closing, an equal number of shares of the company's common stock owned by Lloyd and Joan Cherne were cancelled to avoid any dilution to public shareholders resulting from the sale of the shares in the initial closing.
 This equity placement is an integral part of the reorganization plan discussed with security analysts in the first quarter in 1991. It includes a new management team, extensive clinical validation of the important diagnostic technology of the company and strengthening the financial condition of the company to include a secured line of credit and a subordinate convertible debt issue, and this equity placement.
 "I am pleased that the original plan adopted by the board this time last year has been completed," said David L. Printy, chairman, president and CEO, "and we are poised to move to a true marketing and sales activity from the research and development program. Evidence of this is the recent placement of the Cherne System at UCLA Medical Plaza in Los Angeles, California, and a second contract signed with the prestigious London Clinic in London, England."
 This announcement follows the significant clinical validation of the Cherne System presented by internationally respected cardiologist, Dr. Prakash Deedwania at the 64th Scientific Session of the annual American Heart Association in Anaheim, Calif., in November 1991. Deedwania stated, "The analysis of electrical disorganization by the electrical heterogeneity index obtained by the 22-lead ECG system provides a new and reliable stress-free test for the detection of clinically important coronary artery disease."
 Cherne Medical manufactures and markets the Cherne Digital Cardiac Diagnostic System, a resting, non-invasive stress-free diagnostic instrument capable of identifying coronary artery disease even when no symptoms are present. The common stock of Cherne Medical, Inc., is traded on the national over-the-counter market under the NASDAQ symbol CHNE.
 -0- 12/11/91
 /CONTACT: David L. Printy of Cherne Medical, 612-933-2838/
 (CHNE) CO: Cherne Medical, Inc. ST: Minnesota IN: MTC SU:


DS -- MN004 -- 1335 12/11/91 09:40 EST
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Date:Dec 11, 1991
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