Newsletter

February 27, 2002

Volume V, Issue 13

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To OTC Journal Members:

Diomed (AMEX: DIO) Makes Major Announcement After the Close

Just after the market closed today and on the heels of a stabilizing day in the stock, Diomed came out with a surprise news release concerning a new product release.

The company announced the release of the first laser system on the market which jointly treats both large varicose veins and the small, unsightly spider veins.

This condition affects an estimated 25% of women world wide. The cosmetic market for this product is estimated in the $400 million to $1 billion range, and Todd Pitcher, analyst with Equity Securities, believes the company can eventually gain a minimum of 10% market penetration.

Today's announcement, which came out after the market closed, expands the companies product line, and makes Diomed the first company to market this dual purpose device.

Here is the complete text of the press release for your review:

Wednesday February 27, 5:19 pm Eastern Time
Press Release
SOURCE: Diomed, Inc.

Diomed Begins Marketing First Laser System to Treat Both Varicose Veins (EVLT(TM)) and Spider Veins

ANDOVER, Mass., Feb. 27 /PRNewswire-FirstCall/ -- Diomed, Inc. (Amex: DIO - news), a provider of clinical modalities used in minimal and micro-invasive medical procedures, announced today it has released the first FDA-cleared, combined laser system that treats vascular lesions (including ``spider veins'') and varicose veins.

Diomed announced earlier this year it had gained FDA clearance to market EVLT(TM) (EndoVenous Laser Treatment), the first minimally-invasive, laser- based varicose vein treatment available in the US that effectively and safely eliminates varicose veins without hospitalization, general anesthesia, or the risks associated with open surgical procedures. Having also gained FDA clearance for the D15plus and D30plus laser systems and handpieces, the company is now the first to offer one versatile laser system that can be used for multiple vascular applications - EVLT and the treatment of spider veins.

``This is important news for practitioners offering vascular treatments, and for their patients,'' commented Steven E. Zimmet, MD, Officer of the American College of Phlebology. ``A single laser system that can be used for both varicose and spider vein treatments should make the procedures more accessible to more patients.''

Wade Fox, Diomed Vice-President of Sales and Marketing said, ``With EVLT, we were the first to offer a laser-based minimally-invasive treatment to eliminate varicose veins. Now we're pleased to be the first to offer a laser system that can be used both for EVLT and for vascular lesions.''

The Diomed D15plus and D30plus laser systems are now available on the market. Please visit www.diomedinc.com for more information.

Diomed provides clinical modalities and specializes in the development and distribution of equipment and disposable items used in minimal and micro- invasive medical procedures. In developing and marketing its innovative clinical solutions, it uses proprietary technology and aims to secure strong commercial advantages over its competitors by gaining governmental approvals in advance of others and through exclusive commercial arrangements. To participate in the rapidly growing minimal and micro-invasive medical procedure industry, Diomed seeks to integrate disposables into its product lines. Diomed holds proprietary technology in certain methods of synchronizing diode light sources and in certain optical fibers. Diomed focuses on photodynamic therapy (PDT) for use in cancer treatments, EndoVenous Laser Treatment (EVLT(TM)) for use in varicose vein treatments, and on dental and general surgical applications.

For more information about Diomed, Inc., please visit www.diomedinc.com.

SOURCE: Diomed, Inc.

For a free due diligence package on Diomed Inc call Investor Relations toll free at 1-888-400-0643.

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