Accelr8 Announces Fiscal 2010 Positive Earnings and Gain in Shareholders’ Equity

Accelr8 Technology Corporation (NYSE Amex: AXK) announced its financial results for the fiscal year ended July 31, 2010. For the fiscal year, net sales revenues totaled $2,245,628; net income from operations was $611,793 with total net income of $641,747. For the previous year, net sales were $1,269,886 with a loss from operations of $(679,119) and a total net loss of $(714,197). Shareholders’ equity totaled $4,909,778 for 2010, up from $3,894,494 at the end of the previous fiscal year.

Based upon these results, the company believes it complies with the applicable Amex listing requirement of $4 million in shareholders’ equity. The company’s 10-K annual report to the SEC is available through the SEC’s Edgar website, or the Edgar link through the company’s website at www.accelr8.com/investor_information.php.

Accelr8’s president, David Howson said, “we are very pleased not only with the profitable revenues but with the primary source being a medical diagnostics company that has an exciting product line. Nanosphere’s acceptance of OptiChem® coatings for use in new high-performance diagnostic products helps to build our visibility within the medical community and the diagnostics industry.”

“Our outside academic collaborations for the BACcelTM rapid diagnostic platform also continue to make significant progress. We now have three pre-clinical or clinical pilot studies running at Denver Health and the Barnes-Jewish Hospital in St. Louis using clinical specimens from ICU patients,” Howson concluded.

About Accelr8

Accelr8 Technology Corporation (www.accelr8.com) is a developer of innovative materials and instrumentation for advanced applications in medical instrumentation, basic research, drug discovery, and bio-detection. Accelr8 is developing a rapid analytical platform for infectious pathogens, the BACcelTM system, based on its innovative surface coatings, assay processing, and detection technologies. In addition, Accelr8 licenses certain of its proprietary technology for use in applications outside of Accelr8’s own products.

Certain statements in this news release may be “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding future prospects and developments are based upon current expectations and involve certain risks and uncertainties that could cause actual results and developments to differ materially from the forward-looking statement, including those detailed in the company's filings with the Securities and Exchange Commission. Accelr8 does not undertake an obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events.