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CryoCath Reports First Commercial Use of Freezor(R) System in U.S. - World Renowned Texas Heart Institute Kick Starts U.S. Product Launch with 1st Successful AVNRT Case -.

CryoCath Technologies Inc. (TSX: CYT) today announced that Texas Heart Institute (THI) became the first U.S. center to commercially acquire the Company's recently approved Freezor CryoAblation System. On May 2, 2003, THI's Dr. John Seger successfully performed the first US transcatheter cryoablation procedure in a 32 year old female with AVNRT, after FDA approval for commercial release was granted the previous week.

"CryoCath is honoured to have shared this milestone with THI, a cardiovascular centre of excellence with a history of pioneering innovations, such as open heart surgery," said Steven G. Arless, President and CEO of CryoCath. "THI reflects the type of thought leading institution that will anchor our early clinical efforts. Drawing patients from across the entire Southwest, THI is a high volume, regional reference center."

Approved by the FDA on April 22, 2003, the Freezor CryoAblation System is indicated to treat Atrioventricular Node Reentry Tachycardia (AVNRT), the most prevalently ablated arrhythmia in the U.S., accounting for more than 50,000 procedures a year. The Company has successfully prepared itself for this anticipated commercial launch by growing its manufacturing capacity as well as building a significant sales and marketing infrastructure throughout the U.S.

"The ability to cryomap before creating a permanent lesion in the heart adds another important tool to the cardiac electrophysiologist's ability to treat AVNRT. We were able to confirm the correct ablation site after one cryomap, and then proceeded to successfully eliminate the slow pathway with one cryomap-cryoablation cycle. Procedure time for our first case was in line with what we traditionally see with RF energy, and this first clinical experience was very 'cool' indeed," said Dr. John Seger of St. Luke's Episcopal Hospital at the Texas Heart Institute.

"Our priority right now is to embed Freezor, by year end, into over 50 centres that perform no less than 250 transcatheter ablations annually," said Robert Mattioli, CryoCath's Vice President North American Sales and Global EP Marketing. "We will comprehensively support these early cryoablation adopters with sufficient clinical, field service and technical sales teams during the course of each centre's first 15 Freezor AVNRT cases, to ensure physicians become fully accustomed to and proficient with the technology."

To further support the U.S launch, the Company plans to make Freezor a centerpiece at the upcoming North American Society of Pacing and Electrophysiology's (NASPE) 24th Annual Scientific Sessions. On May 15, CryoCath will be hosting a major symposium co-chaired by Dr. Douglas Packer from the Mayo Clinic in Rochester, Minnesota and Dr. Marc Dubuc from the Montreal Heart Institute. In addition to these speakers, Dr. Warren Jackman from the University of Oklahoma Health Sciences Center, Dr. Jose Nazari from Advocate Illinois Masonic Medical Center in Chicago, Illinois, and Dr. David Keane from Massachusetts General Hospital will each make presentations.

About the Texas Heart Institute

World-renowned cardiovascular surgeon Denton A. Cooley, MD, founded the Texas Heart Institute in 1962 for the study and treatment of diseases of the heart and blood vessels. Together with the Institute's clinical partner, St. Luke's Episcopal Hospital, it has been ranked among the nation's top ten heart centers in an annual survey published by U.S. News & World Report for the past twelve years.

About the Freezor CryoAblation System

Freezor is a flexible, single use, minimally invasive CryoAblation catheter that can reach tip temperatures as low as -80 degrees C inside a beating heart. It is specifically designed to create focal lesions to treat AVNRT. The System is currently used in more than 60 leading centres around the world outside of the U.S.

About CryoCath

CryoCath -http://www.cryocath.com-/ is a medical technology company that leads the world with cryotherapy products to treat cardiovascular disease. With a priority focus on providing physicians with a complete solution of catheter and surgical products to treat cardiac arrhythmias, CryoCath has multiple products approved in the U.S. and across Europe. The Company is developing additional products to expand its pipeline of products to treat cardiac arrhythmias and has research projects in ischemia and peripheral restenosis.

This news release contains certain forward-looking statements that reflect the current views and/or expectations of CryoCath Technologies Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.

CONTACT: Steven G. Arless, Phone: (514) 694-1212, E-mail: sarless@cryocath.com; Mike Polonsky, Phone: (416) 815-0700 ext. 231, E-mail: mpolonsky@equicomgroup.com
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Date:May 5, 2003
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