Miracor Diagnostics Announces Opening of 10th Diagnostic Imaging Center; Also: Directors and Officers Elect to Convert Notes Payable

Business Wire, Nov 6, 2002

Business Editors & Health/Medical Writers

SAN DIEGO--(BUSINESS WIRE)--Nov. 6, 2002

Miracor Diagnostics, Inc. (OTCBB: MRDG) announced today that it has opened its 10th diagnostic imaging center in Kissimmee, Florida. The center has opened with a General Electric Profile Open MRI scanner and is located approximately 30 miles south of Miracor's Orlando center.

"Miracor has grown from four to ten centers over the past two years," said M. Lee Hulsebus, Chairman and CEO of Miracor Diagnostics, Inc. "We will continually look for opportunities to expand in the areas in which we currently serve while keeping an eye on new markets. Adding these six centers while actually reducing our corporate overhead over the same period has provided Miracor with increased profitability each year."

The Kissimmee and Orlando centers will operate as one provider allowing the use of current managed care and network contracts. Additionally, this second center in the Orlando area will give both patients and referring physicians a choice of facilities to have their scans completed.

Notes Payable Conversion

Four directors and officers elected to convert their $25,000 loans to the Company pursuant to the terms of the notes. Each note converted at the stipulated $0.30 conversion price into 83,333 shares. "That these individuals converted at a price 25% higher than the then market price of 24 cents demonstrates the confidence held in the future of Miracor," stated Bob Muehlberg, President and COO of Miracor and one of the noteholders.

About the Company

Miracor Diagnostics, Inc. is an independent provider of diagnostic imaging services focused on the acquisition, development and operation of MRI centers. The company operates ten diagnostic imaging centers in California, Florida, Illinois and Ohio. For more information, visit the website at www.miracor.net.

The forward-looking statements contained in this release are based upon various assumptions, and certain risks and uncertainties could cause actual results to differ materially from those stated. Factors that could cause such differences include those matters disclosed in the company's filings with the Securities Exchange Commission (SEC). Miracor Diagnostics Inc. assumes no obligation to update its forward-looking statements.