Spectral Diagnostics Announces Board Changes

TORONTO, March 30 /PRNewswire-FirstCall/ - Spectral Diagnostics Inc. , a developer of rapid diagnostic technologies, today announced the resignation of Dr. C.R. Stiller and Mr. R.L. Lockie from its Board of Directors and the appointment to the Board of Mr. R.I. Lennox and Mr. G.E. Peterson effective immediately. Mr. Lennox was also appointed Chairman of the Board.

Mr. Lennox is currently a partner with Impax Capital Partners and is an experienced board member and business executive in the life sciences industry. He has held the position of President and CEO of MDS Pharmaceutical & Biotechnology Markets, Phoenix International Life Sciences and Drug Royalty. He also held various leadership positions at Monsanto over a period of almost twenty years. Mr. Lennox serves on several public, private and non-profit boards.

Mr. Peterson is a partner with the law firm of Carlyle - Peterson LLP. He practises corporate law with an emphasis on development stage biotechnology companies. Mr. Peterson has served as a director and secretary of a number of public companies, a lecturer at the University of Western Ontario Law School and is a director of the Canadian Olympic Committee.

"We are extremely pleased to have two such accomplished individuals join our Board as the Company positions itself to commercialize new products and pursue appropriate growth opportunities", stated Dr. Paul Walker, President and C.E.O.

"I would like to thank Dr. Stiller for his significant contribution and leadership of Spectral over many years. In addition, I would like to recognize the contribution of Mr. Lockie over this past year" added Dr. Walker.

Spectral is a developer of innovative technologies for comprehensive disease management. Spectral provides accurate and timely information to clinicians enabling the early initiation of appropriate and targeted therapy. Current products include Spectral's FDA approved rapid diagnostic for sepsis (the Endotoxin Activity Assay). New products include Spectral's rapid West Nile Virus (WNV) assay. Spectral manufactures the EAA(TM) and WNV assays. Spectral earns royalties associated with its proprietary reagents. Spectral's common shares are listed on The Toronto Stock Exchange: SDI.

Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Implicit in this information, particularly in respect of the future outlook of Spectral and anticipated events or results, are assumptions based on beliefs of Spectral's senior management as well as information currently available to it. While these assumptions were considered reasonable by Spectral at the time of preparation, they may prove to be incorrect. Readers are cautioned that actual results are subject to a number of risks and uncertainties, including the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of Spectral to take advantage of business opportunities in the biomedical industry, the granting of necessary approvals by regulatory authorities as well as general economic, market and business conditions, and could differ materially from what is currently expected.

CONTACT: Spectral Diagnostics Inc. - Dr. Paul Walker, Chief ExecutiveOfficer, (416) 626-3233