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ISG TECHNOLOGIES ANNOUNCES FOURTH QUARTER RESULTS

 MISSISSAUGA, Ontario, Aug. 24 /PRNewswire/ -- ISG Technologies, Inc. (ISG) (NASDAQ: ISGTF) today announced preliminary, unaudited financial results for the fourth quarter and year ended June 30, 1993:
 ISG TECHNOLOGIES, INC.
 (Dollars in thousands)
 1993 1992 1993 1992
 Q-4 Q-4 12 months 12 Months
 Revenue $4,847,535 $4,402,285 $18,141,018 $15,804,966
 (Loss) ($644,113) ($21,431) ($1,673,072) ($916,534)
 (Loss)/Share ($0.05) ($0.002) ($0.14) ($0.11)
 Dr. Michael M. Greenberg, president and CEO, ISG, stated the level of losses for the past fiscal year were as anticipated and he said the reasons for these losses would continue to result in losses during the first two quarters of the next fiscal year. These reasons include:
 -- the delay in regulatory clearance in the U.S. of the VIEWING WAND, a navigation and localization device used in image-guided surgery;
 -- the slowdown by U.S. hospitals in their purchases of radiology equipment;
 -- the increase in research and development spending to build products under contract for ISG's OEM (Original Equipment Manufacturer) partners; and
 -- the time-lag between the signing of OEM contracts and the realization of revenue as the OEMs' products come to market.
 Dr. Greenberg explained that currently, the company's revenues essentially come from two products: the ALLEGRO workstation (which provides two- and three-dimensional images to assist in surgical planning and communication), and GYROVIEW (a workstation produced under an OEM contract for the scanners of Philips Medical Systems of The Netherlands, which distributes its scanners worldwide).
 Dr. Greenberg said: "By vigorously pursuing other opportunities, especially with OEM companies, ISG expects significant increases in revenue beginning in mid-fiscal 1994." He explained that, in this past year, ISG has concluded the development cycle of four new products which will produce revenue in the immediate future:
 -- The VIEWING WAND: Dr. Greenberg announced that on Aug. 30, ISG will file the additional clinical trial information requested by the U.S. Food and Drug Administration (FDA) on the use of the company's Viewing Wand. He said: "This is one of the most rigorous 510(k) submissions I have seen. We have every hope that by the end of November or early December, the FDA will clear the Viewing Wand for sale in the U.S." ISG will realize revenues immediately upon FDA clearance of the product.
 -- The DOXBOX: A new family of desk-top physicians' review stations (extentions of the ALLEGRO workstation), now undergoing clinical trials.
 -- The IMAGING APPLICATIONS PLATFORM (IAP): This OEM product is a medical imaging operating system which, in this first year since product launch, has already penetrated companies representing 40 percent of the scanner market, worldwide.
 (When scanners and other imaging products are based on this software, a stable, repeatable programming environment is provided. Therefore, when using IAP, developers working on new applications and across a range of products, don't need to re-invent the basics.) ISG will realize revenues as OEMs bring their IAP-based products to market.
 -- PULSUS: Known previously as G2, PULSUS is a supercomputing hardware accelerator (another OEM product) for medical and scientific imaging workstations. PULSUS enables ISG's OEM partners to bring product to market more quickly and more economically. ISG will realize revenues as OEMs bring their PULSUS-based products to market.
 "We are confident these products, and others now being developed, will move ISG Technologies to profitability," said Dr. Greenberg.
 ISG Technologies, Inc., a Canadian company, designs, manufactures, markets, and supports visual data processing technology for the medical and scientific imaging markets. The technology consists of proprietary software and parallel-processing accelerator hardware. Radiologists and surgeons use these systems to display, manipulate, and analyze two- and three-dimensional images of actual patient anatomy. ISG's common shares are listed on the Toronto Stock Exchange (symbol: ISOT), and New York's NASDAQ (symbol: ISGTF).
 -0- 8/24/93
 /CONTACT: Gerry McDonald, vice-president, finance and administration of ISG Technologies, Inc., 416-672-2100/
 (ISGTF)


CO: ISG Technologies, Inc. ST: Ontario IN: CPR SU: ERN

WB -- NY068 -- 5613 08/24/93 17:32 EDT
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Date:Aug 24, 1993
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