Highlights
    -- Six-month revenues rise 25% to $4.0 million vs. $3.2 million last year
    -- 2Q net loss improves, reaching $947,531, or $0.14 per share, vs.
       $1.3 million, or $0.20 per share last year
    -- Six-month net loss narrows 42% to $1.4 million, or $0.21 per share, vs.
       $2.4 million, or $0.37 per share last year
    -- TAS(TM) analyzer and test card sales up 151% in the six months of 1997
       vs. last year

                           Financial Summary Table

                          Six Months Ended            Three Months Ended
                     6/30/97         6/30/96        6/30/97        6/30/96
    Net revenue  $ 4,043,152     $ 3,223,778     $1,758,914     $1,720,583
    Net loss     ($1,425,164)   ($ 2,437,997)     ($947,531)   ($1,325,157)
    Net loss/share    ($0.21)         ($0.37)        ($0.14)        ($0.20)
    Weighted average
      common shares
      outstanding  6,722,151        6,548,779      6,655,757     6,560,002

    RALEIGH, N.C., July 29 /PRNewswire/ -- Cardiovascular Diagnostics, Inc.
(Nasdaq: CVDI) announced today that net revenues for the six month period
ended June 30, 1997 rose approximately 25% to $4.0 million, compared to
approximately $3.2 million last year.
    Contributing to these results was a 151% increase in sales of the
Company's Thrombolytic Assessment System (TAS(TM)) and test cards -- reaching
$2.0 million for the six-month period, compared to $800,000 in the same period
last year. These results were offset by a 17% decline in revenues from the
Company's Coeur Labs subsidiary, which was caused chiefly by increased
competition in manifolds and syringe sales in Europe.
    Net revenues for the second quarter ended June 30, 1997 rose approximately
2%, to $1.8 million, compared to $1.7 million in the same period of 1996. The
increased revenue for the quarter was the result of a 79% increase in analyzer
and card sales of $328,000, which offset a 22% decrease in manifold and
syringe sales for Coeur Labs.
    The increase in TAS analyzer and card sales for both the quarter and six
months of 1997 as compared to the same periods of 1996 is primarily a result
of continued initial stocking orders by CVDI's principal North American
distributor for routine coagulation tests, DADE International, and CVDI's
newest distributor, AVECOR Cardiovascular, Inc. (Nasdaq: AVEC). AVECOR is
distributing certain of CVDI's critical care test cards, including the Heparin
Management Test ("HMT"), throughout the U.S. and Canada. It is anticipated
that AVECOR will also distribute CVDI's Heparin Management Panel, which is
presently under development. AVECOR is a leading supplier to the
cardiosurgical market of specialty products, including oxygenators, heart
pumps, blood reservoirs and other devices used in heart/lung bypass
procedures.
    Operating expenses for the six-month period of 1997 were essentially flat
compared to last year's six-month period, totaling $3.4 million.  Operating
expenses for the second quarter ended June 30, 1997 decreased 3%, or $58,000,
from the same quarter in 1996.
    CVDI recorded extraordinary expenses of $122,000 in both the six months
and second quarter ended June 30, 1997, related to the litigation filed by the
Company on March 20, 1997 against Boehringer Mannheim Corporation (BMC). On
April 9, 1997, BMC answered the claims made by CVDI and submitted a
counterclaim against CVDI. The Company believes that the counterclaim
allegations are without merit and intends to defend itself against these
allegations vigorously.
    Net other income for the 1997 second quarter increased to $715,000 from
$193,000 in the same quarter of 1996, as CVDI received $475,000 in product
development collaboration pay-outs from pharmaceutical companies.  CVDI's
ability to attract development collaboration partners, such as Knoll, Bayer
and Lilly, has allowed the Company to fund further expansion of the TAS test
menu, which has offset the increased operating costs associated with
additional staffing and administrative expense.
    Attaining development funding and National Institutes of Heath grants for
CVDI's pipeline of new products remains a top priority, particularly as it
relates to collaborations with pharmaceutical companies, which allow CVDI to
monitor certain promising, next-generation cardiovascular therapeutics.
Possessing a unique rapid coagulation technology potentially makes CVDI the
"company of choice" for developing tests to monitor new therapeutics.  CVDI
could offer pharmaceutical companies tremendous value by improving a drug's
efficacy and safety. As a result, such specialty tests are anticipated to
command a higher market price than routine coagulation tests, thus providing a
potentially important growth vehicle for CVDI going forward.
    As a result of increased sales and development funding, the net loss for
the six-month period of 1997 improved by 47%, reaching $1.4 million, or $0.21
per share based on 6.7 million weighted average shares outstanding, compared
to a net loss of $2.4 million, or $0.37 per share based on 6.5 million
weighted average shares outstanding in the same period of 1996. For the second
quarter ended June 30, 1997, the Company reported a net loss of $947,000, or
$0.14 per share based on 6.7 million weighted average shares outstanding,
compared to a net loss of $1.3 million, or $0.20 per share based on 6.6
million weighted average shares outstanding last year.
    Commenting on the Company's results, John Funkhouser, President of CVDI
said, "The second quarter marked the completion of several important
scientific and technical milestones which have allowed CVDI to launch three
high-volume routine coagulation tests-- two PT (prothrombin time) tests and
one aPTT (activated partial thromboplastin time) test--through DADE's
extensive distribution system.  As previously discussed, our sales strategy
includes the calibration of our test results at the point-of-care to DADE's
test results in the central laboratory in order to standardize results
throughout the hospital system.  As a consequence, DADE now has the unique
ability to offer both near-patient, time sensitive testing, as well as high-
volume, less time-sensitive testing in the central lab.  By standardizing test
results and offering a total solution to hospital hemostasis testing, DADE and
CVDI, together, are positioned to meet the needs of today's integrated
healthcare networks ("IHNs") by improving patient turnover and outcome, and
reducing U.S. healthcare costs."
    Further commenting on the Company's efforts with DADE, Mr. Funkhouser
said, "While we are pleased to have completed the calibration phase and are
now building inventory for DADE's sales force, targeted IHNs such as Columbia
and Premier have not yet had calibrated test cards to evaluate. As such,
DADE's sales efforts have been somewhat delayed.  Therefore, it is important
to move DADE inventories, supply calibrated cards to DADE in a timely manner,
and gain IHN market acceptance to improve CVDI's revenues going forward.
    "From a total company perspective, CVDI continues to make great progress
in developing its technology. In the first six months of 1997, CVDI completed
35 clinical trials, launched three new products for DADE and now has nine
tests under development or in clinical trials. Moreover, our pharmaceutical
collaborations continue to demonstrate technical progress and the potential to
further expand our test menu through value-added specialty testing.
Strategically, CVDI wants to become the gold standard in coagulation point-of-
care testing.
    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 -- please dial 1-800-PRO-INFO.  Use company's ticker, CVDI.

    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.

                       CARDIOVASCULAR DIAGNOSTICS, INC.
                          Selected Financial Summary

                        Consolidated Income Statements

                            Three Months Ended            Six Months Ended
                       June 30,        June 30,      June 30,        June 30,
                          1997           1996           1997            1996

    Net sales       $1,758,914     $1,720,583     $4,043,152      $3,223,778
    Cost of goods
      sold           1,426,979      1,302,695      2,950,095       2,490,548
    Gross profit       331,935        417,888      1,093,057         733,230
                         18.87%         24.29%         27.03%          22.74%

    Operating
       expenses      1,858,286      1,916,827      3,437,470       3,518,540

    Operating loss  (1,526,351)    (1,498,939)    (2,344,413)     (2,785,310)

    Other income
      (expense)        715,162        192,963      1,069,865         385,675

    Net loss before
      extraordinary
      expenses and
      income taxes    (811,189)   (1,305,976)    (1,274,548)     (2,399,635)

    Extraordinary
      expenses         122,070             0        122,070               0

    Net loss before
      income taxes    (933,259)   (1,305,976)    (1,396,618)     (2,399,635)


    Provision for
      income taxes     (14,274)      (19,181)       (28,546)        (38,362)

    Net loss         ($947,531)  ($1,325,157)   ($1,425,164)    ($2,437,997)


    Net loss per share  ($0.14)       ($0.20)        ($0.21)         ($0.37)
    Average weighted
      shares         6,655,757     6,560,002      6,722,151       6,548,779

                       CARDIOVASCULAR DIAGNOSTICS, INC.
                         Consolidated Balance Sheets

                                   June 30, 1997       December 31, 1996

    Cash and investments            $  5,848,745         $  8,689,647
    Current assets                  $ 10,642,167         $ 12,198,120

    Total assets                    $ 16,850,462         $ 18,351,355

    Current liabilities             $    553,853         $    616,030

    Total liabilities               $    614,526         $    683,017

    Total shareholders'
      equity                        $ 16,235,936         $ 17,668,338

    Total liabilities
      and equity                    $ 16,850,462         $ 18,351,355

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