RALEIGH, N.C., Dec. 30 /PRNewswire/ -- Cardiovascular Diagnostics, Inc.
(Nasdaq: CVDI) announced today that it has completed a $3.0 million equipment
loan financing with Transamerica Business Credit.  The asset-based loan has a
maturity of approximately 3-1/2 years and is secured by certain equipment
previously purchased by CVDI for its manufacturing facility.
    John Funkhouser, CVDI's Chief Executive Officer, stated, "We are pleased
to have concluded this financing on terms favorable to the Company and its
shareholders.  The additional liquidity, together with projected revenues from
product sales and other sources, will meet our cash and capital needs through
1998, including an expansion of our test development activities.  In 1998,
several of the promising drugs for which CVDI has developed unique diagnostic
tests will be progressing through clinical trials.  In addition to providing a
source of demand for CVDI's analyzers and test cards, if successful, these
trials will determine the efficacy of these drugs and their ability to
positively effect certain disease states."
    CVDI develops and manufactures novel diagnostic tests developed in tandem
with new pharmaceuticals which target conditions previously difficult to
recognize and treat.  CVDI's tests screen for patients who will benefit from
therapy as well as provide information related to drug utilization and patient
progress.  Major test initiatives are currently underway in the fields of
stroke, cardiac infarction and sepsis.  It is thought that the rapid
turnaround of such test results with the use of CVDI's Thrombolytic Assessment
System(TM) ("TAS") and test cards will promote a new paradigm between
diagnostic and pharmaceutical companies as rapid monitoring of certain
therapeutics helps to improve patient treatment and outcome.
    Presently, CVDI has seven FDA-cleared coagulation tests on the market
which primarily monitor routine coagulation parameters.  These "routine tests"
in conjunction with the TAS analyzer and TRAQS software, represent a
hospital-based system expected to provide a continuum of anticoagulant patient
monitoring throughout the patients' hospital stay.  The uniqueness of the
system is that CVDI is capable of standardizing certain test results at the
point-of-care to reagents used in the central laboratory and thus, offer the
hospital a uniformity of test results throughout the hospital.  This gains
increased importance as hospitals consolidate and physicians cover numerous
affiliated hospitals.
    Cardiovascular Diagnostics, Inc. develops, manufactures and markets
systems designed to deliver rapidly and accurately, blood test results at the
point-of-care ("POC").  CVDI's novel technology platform has allowed the
Company to develop a menu of diagnostic tests, including new specialty tests.
The Company believes that its Thrombolytic Assessment System ("TAS")
technology is the only POC system capable of monitoring both the formation and
dissolution of blood clots -- a critical factor in treating heart attacks,
strokes and a variety of other medical conditions.

    To receive CVDI's latest news release and other corporate documents via
FAX -- no cost -- dial 1-800-PRO-INFO.  Use company's ticker, CVDI.  Or visit
The Financial Relations Board's web site at http://www.frbinc.com.

    This press release contains forward-looking statements regarding future
events and the future performance of Cardiovascular Diagnostics that involve
risks and uncertainties that could cause actual results to differ materially
from those projected in the forward-looking statements.  Information
concerning factors that could cause actual results to materially differ from
those in the forward-looking statements is contained in the Company's SEC
filings, including Form 10-K, Form 10-Q and Form 8-K reports.

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