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DISEASE DETECTION INTERNATIONAL REPORTS RECORD REVENUES AND PROFITS FOR FISCAL 1992 AND SIGNIFICANT FORECASTS FOR 1993 AND BEYOND

 IRVINE, Calif., April 22 /PRNewswire/ -- Disease Detection International Inc. (NASDAQ: DDII) ("DDI") today announced audited results of operations for the fiscal year ended Dec. 31, 1992. The company reported record revenues of $1,871,000, an increase of 84 percent over 1991 revenues of $1,017,000. The company also reported net income for 1992 was $307,000 or $0.02 per share, compared to a net loss of ($1,291,000), or ($0.22) per share in 1991.
 DDI's President and Chief Executive Officer, H. Thad Morris, stated, "The company is very pleased that after years of significant investment in research and development, which produced a patented technology, resulting in seven FDA-approved products and a further submission of our rapid, whole blood, seven-minute AIDS test currently in FDA-approved clinical trials, we are able to announce preliminary details of certain sales, marketing and distribution contracts reached in 1992 and the first quarter of 1993, which are projected to produce revenues over $6,000,000 in 1993 and more than $18,000,000 in 1994.
 "DDI will manufacture over 2,000,000 of its SeroCard(R) HIV-1 seven-minute AIDS test from March 1993 to March 1994, for Trinity Biotech plc. to fulfill Trinity's first order received for distribution in Mexico and Guatemala. Our previously announced license agreements with Trinity Biotech plc. will be amended to provide DDI with the manufacturing and marketing rights for the SeroCard(R) HIV-1, seven-minute AIDS test in North and South America (excluding Mexico and Guatemala, where DDI will manufacture the blood-based test on behalf on Trinity).
 "DDI's first direct sales of the rapid AIDS test in South America are projected to equal those of Trinity in Mexico. Additionally, DDI will market Trinity's rapid HIV test which uses saliva as a test specimen. DDI will first market Trinity's saliva test in its South American markets and will be responsible for FDA submissions for approval to market the saliva HIV test in the United States and Canada."
 Morris further elaborated that, "FHC Corp. (`FHC'), its 50 percent-owned women's health care company, completed exclusive, contractual agreements in February 1993 with a pharmaceutical company for distribution of FHC's new, three-minute pregnancy test, through its established sales force in the United States, to the retail, over-the-counter markets. FHC expects to conclude similar agreements in other worldwide markets where it holds exclusive marketing rights. DDI previously announced that through the formation of FHC, that it holds certain worldwide rights to `Pro-Step hCG(TM),' pregnancy test for sale to the professional and hospital markets and has established distribution agreements with various U.S.A. and international partners employing over 1,000 sales representatives. DDI also expects significant revenues from sales of the ProStep hCG test through its various agreements with Trinity Biotech plc."
 Further commenting on the 1992 audited financials, Morris noted that 1992 marked the end of two years of a significant financial and strategic restructuring for the medical diagnostic manufacturer in which the company's working capital deficit of $1,245,000 at Dec. 31, 1991, was eliminated and the company had a positive working capital of $559,000 at 1992's year-end. Morris also noted significant improvements in the company's balance sheet from 1991 to 1992, in particular, assets rose from $1.15 million in 1991 to $2.25 million in 1992, liabilities decreased from $2.16 million in 1991 to $522,612 in 1992, and shareholders' equity increased to $1.67 million as of Dec. 31, 1992, compared to a deficit of ($1,011,000). "We are elated that DDI's five-year $9,000,000 R&D stage has produced contracts with substantial strategic partners in HIV diagnostics and more recently in pregnancy and ovulation rapid testing in over-the-counter markets," Morris stated.
 The company's chief executive officer reported details of the financial restructuring and operational strategies which provided the first-ever profitable year, recognizing the 1992 results compared to 1991 were attributable in large part to up-front licensing fees.
 In the financial restructuring, the company established HIV manufacturing in Mexico, moved to new facilities in the United States, offered equity to certain suppliers, licensed Meridian Diagnostics Inc. (NASDAQ: KITS) new technology, equipment and know- how, resulting in an extraordinary gain totaling $510,000. The company entered into a financing agreement with Saliva Research and certain exclusive and non-exclusive licenses with Trinity Biotech plc. of Dublin, Ireland which generated approximately $1,844,000 in cash proceeds. Under additional terms of those transactions with Saliva Research and Trinity, DDI became the second largest single shareholder in Trinity. While the over-the-counter market value of DDI's Trinity holdings is currently valued in excess of $2,000,000, the company's balance sheet reflects this asset conservatively at $600,000 until such time as those securities are registered. The company had cash in excess of $700,000 on Dec. 31, 1992, and expects to complete a private $2.5 million equity financing shortly, the proceeds of which will be used to support future growth and to fund the Food and Drug Administration (FDA) application seeking approval to maker the SeroCard HIV-1 test in the United States and Canada.
 Disease Detection International Inc. researches, develops, manufactures and markets a family of patented, rapid, diagnostic test kits used in the diagnosis and management of infectious and sexually transmitted diseases including HIV tests using whole blood and saliva as well as other unique diagnostic products for pregnancy and fertility.
 DISEASE DETECTION INTERNATIONAL INC.
 Financial Statements
 Year Ended Dec. 31,
 1992 1991
 Revenues $1,871,456 $1,016,687
 Costs and expenses 2,067,253 2,307,882
 Total (195,797) (1,291,195)
 Minority interest in
 subsidiary 55,000 ---
 Gain on debt extinguishments 343,116 ---
 Utilization of tax loss
 carryforwards 105,000 ---
 Net income (loss) $307,319 ($1,291,195)
 Per share:
 Primary
 Loss before extraordinary
 items ($.02) ($.22)
 Extraordinary items .04 ---
 Net income (loss) $.02 ($.22)
 Common and common equivalent
 shares 10,478,674 5,807,383
 Fully diluted:
 Loss before extraordinary items ($.01) ($.22)
 Extraordinary items .03 ---
 Net income (loss) $.02 ($.22)
 Common and common equivalent
 shares 15,001,437 5,807,383
 -0- 4/22/93
 /CONTACT: H. Thad Morris, president and CEO of Disease Detection International, 714-457-1787/
 (DDII KITS)


CO: Disease Detection International Inc. ST: California IN: MTC SU: ERN

MS -- LA025 -- 9511 04/22/93 13:30 EDT
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Date:Apr 22, 1993
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