HealthGrades Announces Approval of Listing on NASDAQ SmallCap Market; Trading on NASDAQ SmallCap Market to be Effective June 16, 2005

Business Wire, June 15, 2005

GOLDEN, Colo. -- Health Grades, Inc. (OTCBB: HGRD) today announced that NASDAQ has approved the company's application for listing its common stock on the NASDAQ SmallCap Market. HealthGrades' common stock will be traded on the NASDAQ SmallCap Market under the symbol "HGRD", which is the same symbol that HealthGrades is currently quoted under on the Over-the-Counter Bulletin Board. NASDAQ has advised HealthGrades that trading will begin on the NASDAQ SmallCap Market at the opening of the market on Thursday, June 16, 2005.

Kerry Hicks, President and Chief Executive Officer of Health Grades, Inc., stated, "This is a seminal event for Health Grades and would not have transpired without the tremendous effort and contribution of all of our employees. Our listing represents a significant step in our continued growth and will provide us with greater visibility in the investment community."

About Health Grades, Inc.

Health Grades, Inc. (OTCBB: HGRD) evaluates the quality of hospitals, physicians and nursing homes for millions of consumers and hundreds of the nation's largest hospitals, health plans, insurance companies and employers. Through its consumer Web site, HealthGrades provides its award-winning ratings and profiles of hospitals, physicians and nursing homes to more than 2.3 million individuals each month. More information about the company can be found at www.healthgrades.com.