SANTA CLARA, Calif., Dec. 15 /PRNewswire/ -- Applied Imaging Corp.
(Nasdaq: AICX) announced today that it has completed a private placement of
1.3 million shares and warrants to purchase 422,700 shares of its Common Stock
to institutional investors.  Upon the exercise of all warrants, total proceeds
from the placement would be $5.1 million.  The proceeds from the private
placement will be used for expanded market development and support of the
company's MDS(TM) program, working capital and general corporate purposes.
H.C. Wainwright assisted the company in the placement of the shares.
    "We are very pleased by the success of this private placement in a
difficult stock market environment," commented Jack Goldstein, PhD, Chairman
and CEO.  "The investors include both new and existing institutional
shareholders of Applied Imaging.  The expanded investment of the existing
institutional shareholders reflects their continued confidence in the company.
The funds received will strengthen our financial position and allow
accelerated market development of our MDS(TM) system for detecting
micrometastatic cells associated with the spread of cancer."
    Applied Imaging Corp., based in Santa Clara, California, is the leading
supplier of automated imaging systems utilized in genetics and pathology
laboratories for the analysis of chromosomes in cancer and prenatal disorders.
The Company is expanding its efforts in scanning and imaging applications in
the cancer pathology field.  Applied Imaging has installed over 2000 systems
in 1000 laboratories in more than 35 countries.
    This press release contains forward looking statements as defined in the
Private Securities Litigation Reform Act of 1995, regarding, among other
matters, the Company's future financial performance as well as its research
and development and product development efforts.  Forward looking statements
address matters that are subject to a number of risks and uncertainties,
including the uncertainty of clinical studies and regulatory approvals.
Actual results could differ materially from those projected in the
forward-looking statement as a result of a number of factors including the
failure of the Company to successfully develop and commercialize its
micrometastasis or genetic instrument business, and other such factors as set
forth in the Company's form 10-K for the year ended December 31, 1999 as filed
with the Securities and Exchange Commission.
    For additional information on Applied Imaging via fax, please dial
1-800-PRO-INFO, (732-544-2850 outside of the U.S.), code AICX.

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