Biomagnetics Enters Acquisition-Related Quiet Period

Biomagnetics Diagnostics Corp., (PINK SHEETS:BMGP - News) a developer of revolutionary diagnostic systems and technology for HIV, hepatitis, tuberculosis and malaria detection, and other innovative technologies, today informed its investors that the Company has significant news pending that it intents to announce over the coming weeks relative to its planned Chinese technology and product acquisitions. In the interest of treating all shareholders fairly and in an effort to ensure full compliance with State and Federal securities regulations, the Company has decided to institute a self-imposed quiet period until full public disclosure can be disseminated.

“Our recent extended trip to China was very fruitful and the opportunities for our Company are very exciting. Many of our investors have been asking for an update on our pending acquisitions and other contract negotiations,” commented Clayton Hardman, CEO of Biomagnetics. “As we have previously announced, we are working to enter both the biodegradable PVA plastic film and bio-fuel markets. Both of these markets are growing rapidly in China and we believe the companies we plan to acquire will become major players. Additionally, other important opportunities relating to these acquisitions have been made available to the Company. We are in final negotiations relative to these opportunities and plan to inform our investors on specific details, as they unfold over the coming weeks. We are confident our upcoming actions will maximize the value of our shares for all shareholders.”

About Biomagnetics Diagnostics Corp.

Biomagnetics Diagnostics Corporation is an advanced medical device, biotechnology company and other innovative technologies. The Company is currently developing a waveguide-based advanced integrated optical biosensor through its cooperative research and development agreement with Los Alamos National Security, LLC, which will initially be used for cholera, tuberculosis and malaria diagnosis. More information on Biomagnetics Diagnostics Corp. can be seen at www.biomagneticsbmpg.com.