CHICAGO--(BUSINESS WIRE)--May 17, 2006--CytoCore, Inc. (OTCBB:MCDG - News) today announced that a large European institutional investor in CytoCore, Monsun AS, has chosen to convert its note into equity in the Company. CytoCore’s CFO Robert McCullough Jr. stated, “We are very pleased with the decision by Monsun to convert. They have been a long term note holder in the Company, and their conversion helps us on a number of fronts. Their conversion eliminates a substantial amount of debt in our restructuring and cleanup work which helps strengthen the balance sheet. Also, its a strong statement of their support in the progress we’ve made. We look forward to their continued proactive support for CytoCore as we move forward.”
