Longport, Inc. Completes $1.2 Million Preferred Issue

Longport, Inc., (OTC BB: LPTI), a medical technology
specialist in high resolution ultrasound imaging announced today that
it has closed an issue of convertible preferred stock worth
approximately $1.2 million at an issuance price $2.30 per share. The
terms of the preferred shares shall entitle the Company to call for
the conversion of the Preferred Shares into Common on a one-to-ten
basis once the underlying common shares have been registered with the
SEC.
   Investors included a select group of accredited investors who have
previously indicated their interest in acquiring common stock in
Longport as well as A, B, and C warrant holders.
   Paul Wilson, President of Longport, said, "The funds raised will
allow Longport to continue the implementation of our operating plan
including the expansion of sales activities and application studies.
We are expanding our distribution channels through established medical
device sales and marketing companies as well as direct activities.
Initial application studies will concentrate on generating data for
the wound and dermatology markets.
   Barry Kurokawa, Partner at ProMed Management, said, "After due
diligence and looking carefully at the Company's technology, we are
extremely excited at the business prospects for Longport. We look
forward to the Company's successes."
   Peter Siris, President of Guerrilla Capital Management, said, "I
believe the EPISCAN I-200 has tremendous potential to solve the
critical problem of pressure wounds for long-term nursing home
patients regardless of their skin color."

   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.