Cardiac Network Inc. Changes Board of Directors and Principal Officers

SAN FRANCISCO, CA--(Marketwire - May 16, 2011) -

Cardiac Network, Inc. (PINKSHEETS: CNWID) confirms the announcement made on May 9th, 2011 that a new Board of Directors had been voted in by a majority vote of the company’s stockholders. The new Board Members are: Chairman of the Board Malcolm Gulden, Secretary of the Board Brian Calhoun, and Director Richard Owens. Cardiac Network’s former CEO and President Michael Swartzburg has stepped down to pursue other interests, the Board of Directors designated new corporate executive officers. Malcolm Gulden has taken over the role of Chief Executive Officer, and Brian Calhoun has assumed the position of President, in order to focus the company’s expansion, revenues, and new strategic initiatives.

For 30 years, Malcolm Gulden has owned and operated Microsmart, Inc., a computer manufacturer/repair facility and distributor/installer of CCTV security camera systems. During this period, he also has manufactured computer-specific devices. Mr. Gulden brings with him numerous and significant computer and manufacturing industry-related contacts and expertise to enhance Cardiac Network operations and enable it to better execute on its business plan.

“Our focus is to create a new state-of-the-art cardiac monitor, that utilizes new technology and design features, and in connection with this, to become a leader in the field of cardiac monitoring,” said new CEO Malcolm Gulden.

For over 10 years Brian Calhoun has consulted and held various sales positions in the financial services industry. Brian brings a wealth of management, sales, and marketing experience to the company and will be focusing on increasing company revenues and top line performance. Brian’s demonstrated successes in previous management positions; including active participation in mergers and acquisitions as well as other management and strategic consulting roles, make him a valuable addition to the company’s new executive management team.

Richard Owens brings over 20 years of international law experience, and currently he also serves as Director of the Copyright Law Division at the World Intellectual Property Organization (WIPO) in Geneva, Switzerland. His responsibilities include WIPO’s activities regarding progressive development of international copyright and related right laws, and implementation of treaties administered by WIPO. In his prior work as a consultant and as a corporate director, he has worked closely with the European Union, the US Federal Communications Commission (FCC), and the US Patent and Trademark Office (USPTO) in Washington. Mr. Owens received a Bachelor of Arts degree (Phi Beta Kappa) from the University of North Carolina at Chapel Hill, and a Juris Doctor degree from the George Washington University’s National Law Center, Washington DC.

About Cardiac Network:

Cardiac Network, Inc. is a medical technology company that has participated in cardiac monitoring research projects with hospitals and has provided cardiac monitoring and diagnostic services to general practitioners and specialist physicians for the investigation of patients with abnormal cardiac rhythm and function. Past services provided by the company have utilized unique trans telephonic (by telephone) cardiac recorders that monitor and provide diagnostic information to physicians and their patients. Cardiac Network has focused its efforts toward developing new monitoring technologies that can be used by individuals outside of their physician’s offices to help them quickly and conveniently determine if they are having potential cardiac problems, and so that they can obtain needed medical treatment. Learn more about Cardiac Network, Inc. by visiting http://www.cardiacnetwork.net

Forward-Looking Statements

Except for historical information contained herein, the statements in this release are forward- looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently unreliable and actual results may differ materially. Examples of forward-looking statements in this news release include statements regarding Cardiac Network’s anticipated economically competitive products and services. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as fluctuations in demand for Cardiac Network’s products, Cardiac Network’s ability to maintain strategic business relationships, the impact of competitive products and pricing, growth in targeted markets and the adequacy of Cardiac Network’s liquidity and financial strength to support its growth. Cardiac Network undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.