<SUBMISSION>
<ACCESSION-NUMBER>0001193125-06-195025
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20060921
<ITEMS>8.01
<ITEMS>9.01
<FILING-DATE>20060922
<DATE-OF-FILING-DATE-CHANGE>20060921
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>DIAMETRICS MEDICAL INC
<CIK>0000895380
<ASSIGNED-SIC>3845
<IRS-NUMBER>411663185
<STATE-OF-INCORPORATION>MN
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-21982
<FILM-NUMBER>061103121
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<BUSINESS-ADDRESS>
<STREET1>2658 PATTON RD
<CITY>ROSEVILLE
<STATE>MN
<ZIP>55113
<PHONE>6516398035
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>2658 PATTON ROAD
<CITY>ROSEVILLE
<STATE>MN
<ZIP>55113
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<TYPE>8-K
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<FILENAME>d8k.htm
<DESCRIPTION>FORM 8-K
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<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
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<HR SIZE="3" NOSHADE COLOR="#000000" ALIGN="left"> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="4"><B>UNITED STATES </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="4"><B>SECURITIES AND EXCHANGE </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="4"><B>COMMISSION
</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="3"><B>Washington, D.C. 20549 </B></FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><HR WIDTH="17%" SIZE="1"
NOSHADE COLOR="#000000"> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="5"><B>FORM 8-K </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman"
SIZE="3"><B>Current Report </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="3"><B>Pursuant to Section&nbsp;13 or 15(d) of </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"
ALIGN="center"><FONT FACE="Times New Roman" SIZE="3"><B>The Securities Exchange Act of 1934 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">Date of Report (Date of earliest event
reported): September&nbsp;22, 2006 </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="6"><B>DIAMETRICS MEDICAL, INC. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"
ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(Exact name of registrant as specified in its charter) </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Minnesota</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>0-21982</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>41-1663185</B></FONT></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(State or other jurisdiction of</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="1"><B>incorporation)</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(Commission File Number)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(IRS Employer</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT FACE="Times New Roman"
SIZE="1"><B>Identification No.)</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>6245 Bristol Parkway #263, Culver City, California 90230 </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(Address of principal executive offices) </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman"
SIZE="2">Registrant&#146;s telephone number, including area code: (310)&nbsp;670-2595 </FONT></P> <P STYLE="margin-top:10px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Not applicable </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(Former name or former address, if changed since last report) </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.below): </FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"></FONT><FONT FACE="WINGDINGS" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="2"></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"></FONT><FONT FACE="WINGDINGS" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="2"></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </FONT></TD></TR></TABLE> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"></FONT><FONT FACE="WINGDINGS" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="2"></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </FONT></TD></TR></TABLE> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"></FONT><FONT FACE="WINGDINGS" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="2"></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </FONT></TD></TR></TABLE> <P
STYLE="font-size:24px;margin-top:0px;margin-bottom:0px">&nbsp;</P><HR SIZE="3" NOSHADE COLOR="#000000" ALIGN="left">

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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>Item&nbsp;8.01.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>Other Events </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">On September&nbsp;21, 2006, the
Registrant issued the Press Release attached hereto as Exhibit&nbsp;99.1 reporting the acquisition by the Registrant of Vanguard Synfuels, L.L.C., an owner and operator of a biodiesel production facility in Pollack, Louisiana. The Registrant will be
filing a further Form&nbsp;8-K on or before September&nbsp;26, 2006, which will more fully describe the acquisition, the financing of the acquisition, and related matters. </FONT></P> <P
STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>Item&nbsp;9.01.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>Financial Statements and Exhibits. </B></FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>(d)</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>Exhibits. </B></FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2">99.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Press Release of the Registrant dated September&nbsp;21, 2006.</FONT></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this Report to be signed on its behalf by the undersigned hereunder duly authorized. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Date: September 22, 2006 </FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3"><FONT FACE="Times New Roman" SIZE="2"><B>DIAMETRICS MEDICAL, INC.</B></FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2"><I>By:</I></FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2"><I>/s/ Heng Chuk</I></FONT></P></TD></TR>
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<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2"><I>Heng Chuk</I></FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2"><I>Chief Financial Officer</I></FONT></TD></TR>
</TABLE></DIV>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>dex991.htm
<DESCRIPTION>PRESS RELEASE OF THE REGISTRANT DATED SEPTEMBER 21, 2006.
<TEXT>
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<TITLE>Press Release of the Registrant dated September 21, 2006.</TITLE>
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>Exhibit 99.1 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2"><B>Diametrics Acquires Vanguard Synfuels, L.L.C. </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B><I>Company to Focus on Biodiesel Plant Development
</I></B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Los Angeles, September&nbsp;21, 2006 &#151; Diametrics Medical, Inc. (OTC:DMMC.OB) today announced that it has acquired Vanguard Synfuels, L.L.C.,
which owns and operates a 12-million gallon per year biodiesel production facility in Pollock, Louisiana. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Diametrics acquired Vanguard for $17.7 million
in cash and 4,300 shares of its Series K Convertible Preferred Stock that will be convertible into approximately 20% of the Company&#146;s equity (excluding warrants and stock options). In connection with the acquisition, Diametrics is also repaying
$0.8 million of Vanguard&#146;s shareholder loans, and providing a corporate guaranty for Vanguard&#146;s $3.5 million of outstanding debt. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">To finance the
acquisition, Diametrics completed a $28.5 million private placement of its Series J Convertible Preferred Stock. The Series J Convertible Preferred Stock will be convertible into common stock at a conversion price of $0.76 per common share. M.A.G.
Capital, LLC, a Los Angeles-based private investment firm, was the lead investor in the Series J financing, which included other institutions and accredited investors. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2">&#147;Yesterday&#146;s acquisition marks the first step in our long-term strategy to build and acquire biodiesel production facilities,&#148; said Diametrics Chief Executive Officer, Bruce Comer. &#147;We are excited
about the prospects of biodiesel playing a larger role in the overall diesel market. In 2005, biodiesel represented only 75&nbsp;million gallons of the 60 billion gallon United States diesel market,&#148; said Comer. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Mr.&nbsp;Comer cited a favorable regulatory environment for biodiesel that currently includes federal and state tax incentives and state usage mandates (including
Louisiana, Minnesota, Washington and Illinois), as well as certain environmental benefits from the use of biodiesel when compared with petrodiesel. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2">&#147;Our goal is to become a significant force in this rapidly growing market for biodiesel, where we can help reduce our nation&#146;s reliance on foreign oil imports while creating long-term value for our shareholders,&#148; Comer said.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Vanguard&#146;s Chief Executive Officer, Darrell Dubroc, will become President and Chief Operating Officer and a Director of Diametrics. A long-time
energy industry executive, Dubroc is among the pioneers of the biodiesel industry in the United States and a voting board member of the National Biodiesel Board. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2">&#147;We started production of biodiesel in April 2006 and our facility is capable of producing up to 12&nbsp;million gallons per year,&#148; said Dubroc. &#147;We plan to expand the Pollock facility&#146;s annual capacity to
20&nbsp;million gallons.&#148; Dubroc noted, &#147;our company&#146;s focus is exclusively on biodiesel fuel made from renewable, agricultural-based feedstocks, primarily soybean oil, but potentially from other vegetables oils and animal fats.&#148;
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">1 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Transaction Financing and Recapitalization </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2">Diametrics will be making an 8-K filing with the U.S. Securities and Exchange Commission within four business days that will fully describe the Vanguard acquisition, the financing of the transaction and related
matters. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Diametrics used $18.5 million of the $28.5 million proceeds from the Series J private placement to purchase 80% of Vanguard&#146;s equity and to
repay existing shareholder loans, and used an additional $1.6 million of the proceeds to pay fees and expenses in connection with the transaction. Diametrics expects to use the remaining proceeds for working capital and general corporate purposes,
including the planned capacity expansion of the Pollock facility. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">As part of this transaction, Diametrics is making significant changes to its
capitalization. The holders of its $750,000 Senior Secured Convertible Notes converted the notes into approximately 1.6&nbsp;million common shares. Ocean Park Advisors, LLC, of which Mr.&nbsp;Comer and Mr.&nbsp;Heng Chuk are the principals,
converted its Diametrics&#146; Series I Convertible Preferred Stock into approximately 1.4&nbsp;million common shares. In exchange for waiving certain anti-dilution provisions of its Series I Convertible Preferred Stock, the Company issued warrants
to Ocean Park Advisors to purchase approximately 4.8&nbsp;million common shares at $0.76 per share. In connection with the closing of the transaction, certain funds managed by M.A.G. Capital, LLC acquired 81,000 common shares of the company upon the
cashless exercise of warrants for 417,000 shares. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Diametrics plans to submit a proposal for approval by its shareholders providing for the
re-incorporation of the Company in Delaware, and an increase in authorized capital stock. Upon shareholder approval, the $28.5 million of newly-issued Series J Convertible Preferred Stock will be convertible into approximately 37.6&nbsp;million
shares of common stock (a conversion price of $0.76 per common share). The Series J Convertible Preferred Stock has an 8% preferred dividend, payable in cash or stock at the option of Diametrics. To acquire the 20% of Vanguard held by its
executives, Diametrics issued Series K Convertible Preferred Stock that upon the increase in the authorized capital stock will be automatically converted into approximately 11.1&nbsp;million shares of common stock. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">In connection with the assignment to Diametrics of certain rights to acquire Vanguard, Diametrics issued to M.A.G. Capital warrants to purchase 6.5&nbsp;million shares
of common stock, half of which are exercisable at $1.1381 per share, and the other half of which are exercisable at $1.3278 per share. As part of a professional services agreement, which contemplates Mr.&nbsp;Comer and Mr.&nbsp;Chuk continuing as
CEO and CFO, respectively, Diametrics issued stock options to Ocean Park Advisors to purchase approximately 2.1&nbsp;million shares at $0.76 per share. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2">Diametrics currently has approximately 3.5&nbsp;million shares of common stock outstanding, and after giving effect to the acquisition of Vanguard, related financing transactions and the increase in authorized capital stock, the Company
will have approximately 70&nbsp;million shares of common stock on a fully-diluted, fully-converted basis, assuming the cash exercise of all outstanding options and warrants. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">2 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>About Diametrics </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2">Prior to the acquisition of Vanguard, Diametrics had limited assets and liabilities and no operations, and was treated as a &#147;shell company&#148; by the Securities and Exchange Commission. It had previously been a maker of medical
devices. Its business activities were discontinued by the second quarter of 2005, and substantially all remaining assets were sold. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">The company plans to
submit a shareholder proposal to reincorporate in the State of Delaware. In connection with such reincorporation, Diametrics will change its corporate name to reflect its focus on the construction and acquisition of biodiesel production facilities.
</FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>About M.A.G. Capital </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">M.A.G. Capital, LLC, through its
managed funds, provides growth equity capital to small-cap and micro-cap public companies across a wide range of industries. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman"
SIZE="2">#&nbsp;&nbsp;&nbsp;&nbsp; #&nbsp;&nbsp;&nbsp;&nbsp; # </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">The information included in this press release contains forward-looking statements. All
statements that do not concern historical facts are forward-looking statements. These statements involve substantial known and unknown risks and uncertainties that could cause the actual results to differ materially from those described herein.
Diametrics&#146; forward-looking statements are based on information currently available to it, and Diametrics undertakes no obligation to update or revise these statements, whether as a result of changes in underlying factors, new information,
future events or otherwise. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Press Contacts:&nbsp;&nbsp;Nick Ragone (646)&nbsp;935-4046 or David Allan (646)&nbsp;935-4070 </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:13%"><FONT FACE="Times New Roman" SIZE="2">Ketchum, New York, for Diametrics Medical, Inc. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:13%"><FONT FACE="Times New Roman"
SIZE="2"><U>nick.ragone@ketchum.com</U> or <U>david.allan@ketchum.com</U> </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">3 </FONT></P>

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