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HAILEY ENERGY STOCKHOLDERS APPROVE NAME CHANGE TO CYTOPROBE CORP.

HAILEY ENERGY STOCKHOLDERS APPROVE NAME CHANGE TO CYTOPROBE CORP.
 SAN DIEGO, Nov. 13 /PRNewswire/ -- CytoProbe Corp. (NASDAQ: HECC) announced that at its annual shareholders meeting held yesterday the shareholders ratified a name change for the company from Hailey Energy Corp. to CytoProbe Corp. in order to reflect its new direction. Hailey has recently acquired the worldwide marketing rights to an endoscopic brush and cell recovery system which essentially automates endoscopic brushing and recovery of brushed cells for the purpose of diagnosing the presence of cancerous cells. The system is used in conjunction with currently existing endoscopes. During the procedure, the brush is extended beyond the end of the scope and rotated, dislodging cells which are then collected in the sample receptacle. Test results have shown a remarkable increase in the number of cells obtained and in diagnostic quality when compared to other cell collection methods. On Oct. 30, the company announced the awarding of a contract to S.G. Hauser Associates of Calabasas, Calif., for design and production of an advanced working prototype cell recovery and fluid management system. S.G. Hauser is ranked as one of the top 10 medical industrial design firms in the United States and has significant experience in endoscopy and instrumentation for minimally invasive surgery.
 This prototype cell recovery system will represent the company's first product introduction in the biomedical field and is an important milestone in CytoProbe's diversification program. The cell recovery system, used in conjunction with standard endoscopes, has been shown to permit minimally invasive diagnosis of certain types of cancer and precancerous conditions.
 CytoProbe operates two primary businesses: the exploration and development of oil and gas reserves and the manufacturing and marketing of specialty medical products. For further information, call 800-833-1322 or 619-455-0095.
 -0- 11/13/92
 /CONTACT: James Ross of CytoProbe, 619-689-9400/
 (HECC) CO: CytoProbe; Hailey Energy Corp. ST: California IN: OIL MTC SU:


KJ-JL -- SD001 -- 0551 11/13/92 09:15 EST
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Publication:PR Newswire
Date:Nov 13, 1992
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