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SUNPORT MEDICAL CORP. REPORTS SIX MONTHS RESULTS

 VANCOUVER, British Columbia, April 29 /PRNewswire/ -- Allan Ferguson, president of Sunport Medical Corp. (NASDAQ: SMQCF; Vancouver: SMQ) ("Sunport"), reports the consolidated financial results for Sunport for the six-month period ended March 31, 1993.
 SUNPORT MEDICAL CORP.
 Consolidated Statements of Operations
 Six Months Ended Fiscal Year Ended
 March 31, 1993 Sept. 30, 1992
 (Unaudited) (Audited)
 Stated in US$ Stated in US$
 Operating revenue $4,549,113 $3,192,623
 Depreciation expense 294,864 267,784
 Gross profit 4,254,249 2,924,839
 General & administrative
 expenses 2,738,276 1,747,574
 Interest expense 229,536 227,138
 Income before income taxes 1,286,437 950,127
 Provision for income taxes 449,866 386,041
 Net income $836,571 $564,086
 Earnings per share $.055 $.040
 Weighted average shares
 outstanding 15,568,009 13,925,992
 Ferguson commented that "Sunport Medical Corp. not only continued its strong revenue and earnings growth during the second quarter of fiscal 1993 but also surpassed its financial results recorded during the first quarter of fiscal 1993. The viability of management's growth strategy for Sunport has again been affirmed by the quarter's financial results. Sunport's goals are to efficiently provide the highest quality health care services and to continue the pursuit of strategic acquisitions in the medical field which will further augment revenues and earnings per share."
 Revenues for the second quarter (three months ended March 31, 1993) were $2,358,057, while net after-tax income was $435,741. This compares with $2,191,056 and $400,830, respectively, for the first quarter. Earnings per share were 2.8 cents, compared with 2.7 cents for the first quarter. These results are in excess of the first quarter's results on both an absolute and a weighted average per share basis and are greater than management's forecast of not less than $1.5 to $1.6 million in earnings for the current fiscal year from existing facilities alone.
 Ferguson further commented that "management is extremely pleased to announce that Sunport Medical Corp. has received approval from the National Association of Securities Dealers to be traded on NASDAQ. Sunport Medical Corp. stock commenced trading on the NASDAQ market under the symbol of SMQCF on Tuesday, April 27, 1993."
 Sunport Medical Corp. has a number of potential acquisitions under negotiation, and management expects to be able to close one or more during the third quarter. Sunport's cash position ($3.1 million) remains robust and was augmented during the quarter by the placement by Deacon Barclays de Zoete Wedd Ltd. of Toronto of 3,045,000 restricted common shares.
 During the second quarter Sunport Medical announced the acquisition of one diagnostic imaging center and one immunology/ diagnostic laboratory. With these additions, Sunport now owns and operates four diagnostic imaging centers, four physical therapy rehabilitation centers, a diagnostic laboratory and a management company which oversees the operations of all of the centers. Sunport now boasts a total staff of 91 dedicated professional and management and support personnel in its operations in the greater San Antonio area.
 Looking ahead, management is confident that Sunport Medical Corp. will be able to continue to convert the opportunities it perceives for growth in the health care services field to acquisitions at favorable prices and, in so doing, to enhance earnings per share. The company's strategy is to broaden its geographic base by seeking acquisitions in select markets elsewhere in Texas and other areas.
 -0- 4/29/93
 /CONTACT: Allan Ferguson, president of Sunport Medical, 604-682-4488/
 (SMQCF)


CO: Sunport Medical Corp. ST: British Columbia IN: MTC HEA SU: ERN

LS-JL -- LA019 -- 2471 04/29/93 09:04 EDT
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Date:Apr 29, 1993
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