Proposed Equity Issue

RNS Number:5240U
Zi Medical PLC
22 January 2004


Zi Medical plc (the "Company")

Proposed equity issue

Zi Medical plc, the specialist developer of innovative medical device
technologies with an emphasis on drug infusion therapy, announced today that the
Board is considering a further equity issue to strengthen the Company's balance
sheet, provide additional working capital to support the increase in turnover
expected following the launch of the Company's RedEye infusion device and to
support the Company's development of new products.

Whilst the Board is encouraged by the support for the Company's shares shown by
the Stock Market in recent days it is anticipated that if the proposed equity
issue proceeds it will be at a price lower than the current price quoted in the
market.

Executive Chairman, Michael Fort said:

"We are encouraged to see that the achievements of the Company have been
received with such great enthusiasm by investors. With the commercial launch of
the RedEye product, in partnership with Baxter Healthcare, we believe that the
Company has reached a stage in its commercial development where it would be
appropriate to seek further funding to facilitate the Company's future growth."

For further information:

Michael Fort, Executive Chairman Tel: [phone]

ENDS



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