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ISG TECHNOLOGIES INC. ISSUES UPDATE, A NEWSLETTER FOR ISG INVESTORS

 MISSISSAUGA, Ont., July 15 /PRNewswire/ -- ISG Technologies today released highlights from their quarterly newsletter UPDATE.
 ISG AND IAP (IMAGING APPLICATIONS PLATFORM): IAP is a software operating system for medical image processing. Using IAP, software developers can bring medical imaging products to market faster and with reduced development costs. Since December, 1992, ISG has conducted 15 courses in IAP for universities planning to use IAP in their advanced research, and for corporations who are approaching a decision on whether to license IAP.
 ISG AND ADVANCED NMR SYSTEMS: ISG has signed an agreement with ADVANCED NMR SYSTEMS of Wilmington, Mass. ADVANCED NMR is an industry leader in ultra high-speed MRI scanning applications. ADVANCED NMR has agreed to license ISG's IAP to build advanced applications for its INSTASCAN product.
 ISG AND ITS EXPANSION OF ALLIANCES WITH OEMs (ORIGINAL EQUIPMENT MANUFACTURERS): Working towards the company's objective of establishing IAP as an industry standard, to date ISG has alliance relationships with PHILIPS MEDICAL SYSTEMS, GE MEDICAL SYSTEMS, NORAN SCIENTIFIC INSTRUMENTS, and ADVANCED NMR SYSTEMS. ISG is vigorously pursuing such alliances with other OEM companies, and expects to make further announcements by the second quarter of fiscal 1994.
 ISG AND THE U.S. FOOD AND DRUG ADMINISTRATION (FDA): The 70 clinical trial cases requested by the FDA have now been completed. ISG's clinical development staff, in concert with statisticians and regulatory affairs consultants, have been analyzing and compiling the data and are reviewing the documentation to ensure compliance with FDA requirements. ISG will submit the documentation early in August, and expects the FDA's response in November. (The FDA still attempts to review and respond to submissions within 90 days, but it is not legally bound by this timeframe.)
 ISG AND DOXBOX: DoxBox, an ISG works-in-progress, is a desktop physician's review station. In June, it was installed at three test sites in North America. These sites will closely co-operate with ISG's product management staff to further refine the clinical value of the product.
 IN KEEPING WITH ISG'S PLANS TO STRENGTHEN ITS ACTIVITIES OUTSIDE NORTH AMERICA:
 ISG IN JAPAN: ISG and MITSUI AND COMPANY LIMITED announce the signing of an agreement for distribution of the Allegro and the Viewing Wand in Japan. The agreement provides for escalating sales volumes over a three-year term. In collaboration with ISG, MITSUI is working with the Japanese Ministry of Health to obtain clearance for the sale of the Viewing Wand there. Clearance is expected within six months.
 ISG IN EUROPE: In Europe, where there are less stringent regulatory requirements, ISG began distribution of the Viewing Wand early in fiscal 1993.
 ISG IN CHINA: ISG recently signed an agreement with BEIJING HST FANXING for the distribution of the Allegro product in China. As with the MITSUI agreement, the agreement with BEIJING HST FANXING provides for escalating sales volumes.
 PROFIT MAGAZINE in June listed ISG as third in the top 100 growth companies in Canada, based on growth in sales over the past five years.
 STOCK PRICES: On July 9 ISG's shares closed at $14.50 Canadian, and $11.50 U.S.
 UPDATE is issued quarterly.
 -0- 7/15/93
 /CONTACT: Theresa Arts, manager - Corporate Communications of ISG, 416-672-2100, ext. 297, or fax, 416-672-2307/
 (ISOT.)


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

WB-MG -- NY041 -- 1952 07/15/93 12:23 EDT
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Date:Jul 15, 1993
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