iCAD, Inc. To Release Third Quarter Results On Monday, October 30, 2006, Conference Call Set For 10:00 a.m. EST

NASHUA, N.H., Oct. 23 /PRNewswire-FirstCall/ -- iCAD(R), Inc. , an industry-leading provider of Computer-Aided Detection (CAD) solutions for the early identification of cancer, will release financial results for the third quarter ended September 30, 2006 before the market opens on Monday, October 30, 2006. iCAD’s management will host a conference call that day at 10:00 a.m. EST to discuss the results and answer investor questions.

Shareholders and other interested parties may participate by dialing +1 800 573 4752 (domestic) or +1 617 224 4324 (international) and entering passcode 46492920, a few minutes before the start of the conference call. The call will also be broadcast live on the Internet at http://www.streetevents.com, http://www.fulldisclosure.com or http://www.icadmed.com. A replay of the conference call will be accessible two hours after its completion through November 6, 2006 by dialing +1 888 286 8010 (domestic) or +1 617 801 6888 (international) and entering passcode 50290999. The call will also be archived for 90 days at http://www.streetevents.com, http://www.fulldisclosure.com and http://www.icadmed.com.

About iCAD, Inc.

iCAD, Inc. is an industry-leading provider of Computer-Aided Detection (CAD) solutions that enable healthcare professionals to identify cancer and other life-threatening conditions earlier by making medical services more effective, more accessible and more affordable for patients worldwide. Recipient of Frost & Sullivan’s Growth Strategy Leadership award, iCAD offers a comprehensive range of high-performance, upgradeable CAD systems for the high, mid and low volume mammography markets. As the most frequently selected CAD solution for film-based and digital breast screening, iCAD is entrusted with the task of early cancer detection by over eleven hundred women’s healthcare centers worldwide. For more information, call +1 877 iCADnow or visit http://www.icadmed.com.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995:

Certain statements contained in this News Release constitute “forward- looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the risks of uncertainty of patent protection, the impact of supply and manufacturing constraints or difficulties, product market acceptance, possible technological obsolescence, increased competition, customer concentration and other risks detailed in the Company’s filings with the Securities and Exchange Commission. The words “believe”, “demonstrate”, “intend”, “expect”, “estimate”, “anticipate”, “likely”, and similar expressions identify

forward-looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements, which speak only as of the date the statement was made. The Company is under no obligation to provide any updates to any information contained in this release.

For iCAD Investor Relations, contact Kevin McGrath of Cameron Associates at 212-245-4577 or via email at kevin@cameronassoc.com

For iCAD Public Relations, contact Wendy Ryan of Schwartz Communications at 781-684-0770 or via email at icad@schwartz-pr.com

Company Contact: Darlene M. Deptula-Hicks Executive VP of Finance and CFO 937-431-7944 ddeptula@icadmed.com

iCAD, Inc.

CONTACT: Darlene M. Deptula-Hicks, Executive VP of Finance and CFO ofiCAD, +1-937-431-7944, ddeptula@icadmed.com; or Kevin McGrath, InvestorRelations, of Cameron Associates for iCAD, +1- 212-245-4577,kevin@cameronassoc.com; or Wendy Ryan, Public Relations, of SchwartzCommunications for iCAD, +1-781-684-0770, icad@schwartz-pr.com

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