Nuno Brandolini, Kevin R. McCarthy and Rani Aliahmad Join Miravant Board of Directors

Miravant Medical Technologies (OTCBB:MRVT), a
pharmaceutical development company specializing in PhotoPoint(R)
photodynamic therapy (PDT), announced today the elections of Nuno
Brandolini, Kevin R. McCarthy and Rani Aliahmad, to its board of
directors.
   Mr. Brandolini has been an investment banker with Lazard Freres &
Co. and a principal with the Baltheus Group and Logic Capital, two
venture capital firms. He was Vice President, Investment Banking at
Salomon Brothers, Inc. and co-founded Rosecliff, Inc., a middle-market
private equity fund, where he served as Managing Director until 1995.
He also co-founded Independence Holdings, a $100 million private
equity fund-of-funds, and Scorpion Holdings, a private equity firm.
Mr. Brandolini currently serves as the General Partner of Scorpion
Capital Partners, L.P., a $120 million Small Business Investment
Company (SBIC) that he co-founded in 2004. He was awarded a law degree
by the University of Paris, and received an M.B.A. from the Wharton
School of Business. He currently serves as a director on the Boards of
Cheniere Energy, Inc., WalkAbout Computers, Inc., and Wellpartner,
Inc.
   Mr. McCarthy served with Ernst & Young (and the predecessor firm
Arthur Young & Co), beginning in the audit department and
entrepreneurial services group, and most recently as a Partner in its
M&A Due Diligence Group. He was the Corporate Controller of Vac-Hyd
Corporation, a jet engine repair company and Chief Financial Officer
at Rosecliff, Inc., a middle-market private equity fund. Mr. McCarthy
also co-founded Independence Holdings and Scorpion Holdings and
currently serves as the General Partner of Scorpion Capital Partners,
L.P., which he co-founded in 2004. He received a B.S. in Accounting
from Babson College and is a director on the Boards of WalkAbout
Computers, Inc., and Wellpartner, Inc.
   Mr. Aliahmad is President of USA Call, a provider of end-to-end
mobile solutions. Previously he co-founded Cardionomics and led the
effort to develop Embryonix, an embryonic stem cell research center.
From 1998-2001, Mr. Aliahmad was co-founder and Chief Strategic
Officer of eCandy, a B2B platform for the US confectionery industry
and was Managing Director of CIC, a telecom investment and consulting
company based in Paris, France. He received his BA in Economics from
Yale University (1992) and MBA in Information Technology and
Entrepreneurship from MIT (1996).
   Gary S. Kledzik, PhD, chairman and chief executive officer,
stated, "We are pleased to welcome these accomplished businessmen to
Miravant's board of directors. They expand the experience and
expertise of our Company."

   About Miravant

   Miravant Medical Technologies specializes in PhotoPoint(R)
photodynamic therapy (PDT), developing photoreactive (light-activated)
drugs to selectively target diseased cells and blood vessels.
Miravant's primary areas of focus are ophthalmology and cardiovascular
disease with new drugs in clinical and preclinical development.
PHOTREX(TM) (rostaporfin), the Company's most advanced program, has
received an FDA Approvable Letter as a treatment for wet age-related
macular degeneration and a Special Protocol Assessment for a Phase III
confirmatory clinical trial. Miravant's cardiovascular development
program, supported by an investment from Guidant Corporation, focuses
on life-threatening coronary artery diseases, with PhotoPoint MV0633
in advanced preclinical testing for atherosclerosis, vulnerable plaque
and restenosis.
   For more information, please visit our web site at:
www.miravant.com