Longport, Inc. Announces Financial Results for Second Quarter and Six Months Ended June 30, 2005

Longport, Inc. (OTC BB: LPTI), a medical technology
specialist in high resolution ultrasound imaging, announced its
financial results for the second quarter and six months ended June 30,
2005.
   Revenues for the second quarter 2005 were $194,541 compared to
$394,750 for the second quarter in 2004. The decline was attributed to
the absence of used Scanner sales as well as revenue from the sale of
distribution rights that were accounted for one year ago. Total
operating expenses for the quarter rose to $685,721 compared to
$429,773 for the same period a year ago. The increase was due to the
rise in General and Administrative expenses which have accompanied the
Company's move from its product development stage to the active
distribution of its Scanner products. The company reported a net loss
of ($448,551) or ($0.02) per share for the second quarter 2005. This
compares to a loss of ($134,616) or ($0.01) per share for the second
quarter 2004.
   Michael Boyd, CEO of Longport, said, "In the second quarter of
2005, Longport continued to implement its operational plan. As
discussed in the last few months, the plan includes continued
expansion of our product into additional market sectors and geographic
territories via the execution of additional sales and distribution
agreements as well as the further development of Longport's technology
resulting in additional marketable products and services. This quarter
we have made progress along these lines including the distribution
agreements we signed with Maximum Medical, Inc. and Traveling Medical
Services. We also sold scanners directly to Christie Hospital in
Manchester, England, as well as a nursing home in North Carolina.
Further, Longport attended a number of national clinical congresses as
an exhibitor."
   Boyd added, "Maximum Medical has placed and received an order for
six demonstration EPISCAN systems and are expected to require an
additional two demonstration units in the third quarter of 2005 as
they roll out their EPISCAN sales and marketing program. Their 35
sales people have established relationships with many clinics,
hospitals, and nursing homes."
   Boyd also said, "The sale of the scanner to Christie Hospital in
the UK is also a significant milestone as it opens an entirely new
application for the EPISCAN. Our focus has been on the assessment and
prevention of pressure ulcers thus far. Christie is using the scanner
in conjunction with photodynamic therapy (PDT) for the treatment of
basal cell carcinoma, a type of skin cancer, and Bowen's Disease, a
very common pre-malignant condition of the skin. This new use also
provides us with an opportunity to branch out into the assessment of
these conditions."
   He remarked, "The Traveling Medical Services agreement offers a
very flexible model for future contracts. Traveling Medical will be
offering the scanner to nursing homes through either direct sales
arrangements and/or as an enhancement to the services they already
provide.
   Boyd concluded, "We are still building momentum in the
implementation of our operating plan, with the progress in the second
quarter giving us grounds for optimism about the remainder of the
year. We believe that the technology behind our product remains
unrivalled, and our sales and marketing efforts are beginning to
establish a much broader range of distribution channels through
established medical device sales and marketing companies."
   For the first six months ending June 30, 2005, the company
announced revenues of $576,881 compared to $501,104 for the first six
months of 2004. The increase in six month revenue was due to the sale
of distribution rights of $304,540. However, this was offset by a
decrease in revenue from scanner sales of $246,463. Total operating
expenses in the first half of 2005 increased to $1,174,044 compared to
$837,595 for the six months ended June 30, 2004. The increase is due
primarily to the rise in general and administrative costs of $336,449,
due to the expansion of the company's activities.
   For the six months ended June 30, 2005, the company reported a
decline in net loss of ($554,534) or ($0.02) per share compared to a
net loss of ($681,580) or ($0.03) per share for the same period ended
June 30, 2004. The decrease in loss is primarily attributed to the
presence in 2004 of a $164,707 write down of an investment originally
made in 2000.

   About Longport, Inc.

   Longport, Inc. of Glen Mills, Pennsylvania, is a medical
technology company that specializes in high resolution ultrasound
imaging. After several years and a multi-million dollar investment in
the technology, Longport has secured patents, copyrights, and FDA
permission to market. The Company's technology has been used to
engineer a unique high resolution ultrasound imaging system. For
further information please contact Longport, Inc. at 1-800-289-6863 or
visit our website at www.longportinc.com.

   Forward-looking Information and the Private Securities Litigation
Reform Act of 1995

   Certain statements in this press release, including statements
concerning product development milestones and anticipated events, are
"forward-looking statements" within the Private Litigation Reform Act
of 1995. Forward Looking Statements are based on the opinions and
estimates of management at the time the statements are made and are
subject to certain risks and uncertainties that could cause actual
results to differ materially from those anticipated in the
forward-looking statements. The words "believe," "expect," "intend,"
"anticipate," variations of such words, and similar expressions
identify forward-looking statements, but their absence does not mean
that the statement is not forward-looking. These statements are not
guarantees of future performance and are subject to certain risks,
uncertainties and assumptions that are difficult to predict. Factors
that could affect Longport's actual results include, among others,
uncertainties as to the Company's ability to manage potential
problems, delays or anticipated expenses, including problems, delays
or expenses involving manufacturing. Readers are cautioned not to
place undue reliance upon these forward-looking statements that speak
only to the date of this release. Reference is made to Longport's 2004
annual report on Form 10-K filed with the Securities and Exchange
Commission for a more definitive description of such factors.
Longport, Inc. undertakes no obligation to update publicly any
forward-looking statements to reflect new information, events or
circumstances after the date of this release or to reflect the
occurrence of unanticipated events.
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                    Longport, Inc. and Subsidiaries
       Unaudited Condensed Consolidated Statements of Operations
       For the three and six months ended June 30, 2005 and 2004

                      Three Months Ended         Six Months Ended
                           June 30,                  June 30,
                   ------------------------- -------------------------
                       2005         2004         2005         2004
                    -----------  -----------  -----------  -----------
Net Revenues:
 Scanner sales -
  new units        $   179,017  $   209,000  $   179,017  $   285,480
 Scanner sales -
  used units                 -      140,000            -      140,000
 Scanner rentals        10,300        2,000       20,700        3,000
 Other,
  principally sale
  of distribution
  rights                 5,224       43,750      377,164       72,624
                    -----------  -----------  -----------  -----------

  Total Revenues       194,541      394,750      576,881      501,104
                    -----------  -----------  -----------  -----------

Operating
 Expenses:
 Cost of sales -
  new units            101,963       64,421      101,963      166,924
 Cost of sales -
  used units                 -            -            -            -
 General and
  administrative       537,316      330,266    1,000,668      595,479
 Stock
  compensation
  expense                    -        2,250            -        4,500
 Research and
  development
  expense               46,442       32,836       71,413       70,692
                    -----------  -----------  -----------  -----------

  Total Operating
   Expenses            685,721      429,773    1,174,044      837,595
                    -----------  -----------  -----------  -----------

Operating Income
 (Loss)               (491,180)     (35,023)    (597,163)    (336,491)
                    -----------  -----------  -----------  -----------

Other Income
 (Expense):
 Interest
  income                   149                      149          884
 Gain on sale of
  marketable
  securities            26,379                   26,379
 Bad debt
  recovery              20,000                   20,000
 Interest
  expense               (3,899)     (98,456)      (3,899)    (141,375)
 Impairment loss             -            -            -     (164,707)
 Other expense               -         (809)           -      (34,853)
                    -----------  -----------  -----------  -----------

  Total Other
   Income
   (Expense)            42,629      (99,265)      42,629     (340,051)
                    -----------  -----------  -----------  -----------

Income (Loss)
 Before Provision
 for Income Taxes     (448,551)    (134,288)    (554,534)    (676,542)
Provision for
 income taxes                -          328            -        5,038
                    -----------  -----------  -----------  -----------
Net Income
 (Loss)            $  (448,551) $  (134,616) $  (554,534) $  (681,580)
                    ===========  ===========  ===========  ===========
Net Income (Loss)
 Per Basic and
 Diluted Share 
 of Common Stock   $     (0.02) $     (0.01) $     (0.02) $     (0.03)
Weighted Average
 Number of Basic
 and Diluted 
 Common Shares
 Outstanding        23,083,368   20,865,670   23,083,368   20,865,670

The accompanying notes are an integral part of these unaudited
condensed consolidated financial statements.

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