VMTIC Vista Medical Technologies (MM)

Vista Medical Maintains Nasdaq Listing Trading Symbol to Change Back to 'VMTI' CARLSBAD, Calif., June 8 /PRNewswire-FirstCall/ -- Vista Medical Technologies, Inc., (NASDAQ:VMTIC), announced today that, following its recently completed common stock and warrant financing, it has satisfied Nasdaq's minimum $2.5 million shareholders' equity requirement for continued listing set forth in Marketplace Rule 4310(c)(2)(B). As a result, Vista Medical continues to meet the requirements of Nasdaq for continued listing in the Nasdaq SmallCap Market. Effective at the opening of business on Wednesday, June 9, 2004, the Company's Common Stock will trade once again under the symbol "VMTI" instead of under the current conditional listing symbol "VMTIC." On May 26, 2004, Vista Medical completed a common stock and warrant financing, providing the Company with $4.1 million in net proceeds from accredited individual investors and institutions. On May 7, 2004, the Nasdaq Listing Qualifications Panel granted the Company a conditional listing exception from such shareholders' equity requirement, subject to certain conditions. The Company was required to file with the Securities and Exchange Commission and Nasdaq, on or before May 31, 2004, a disclosure that the Company raised a minimum of $3.6 million in additional equity, net of expenses, as well as a description of the completed transaction that enabled the Company to satisfy the $2.5 million shareholders' equity requirement. The Company made this filing on Form 8-K. The Panel will continue to monitor the Company's ongoing compliance with the minimum shareholders' equity threshold until the Company shall have evidenced compliance with that requirement via a publicly filed balance sheet and demonstrated an ability to sustain compliance with the minimum shareholders' equity requirement over the long term. To demonstrate compliance, the Company must file forms 10Q for the quarters ending June 30, 2004 and September 30, 2004 with the SEC and Nasdaq evidencing continued compliance with the $2.5 million shareholders' equity requirement. Vista Medical Technologies, Inc. Our business is focused exclusively on the disease state management of morbid obesity, through our wholly-owned subsidiary, VOW Solutions, Inc. We provide program management, operational consulting and clinical training services to physicians and hospitals involved in the medical and surgical treatment of morbidly obese patients. We also provide specialized vitamins to patients who have undergone obesity surgery. Our corporate website is http://www.vistamt.com/; our morbid obesity disease state management website is http://www.vowsolutionsinc.com/; information on our nutritional supplements for post- surgical gastric bypass patients may be found on http://www.vistavitamins.com/. Vista Medical Technologies is traded on the Nasdaq SmallCap Market under the stock symbol VMTIC and beginning on June 9, 2004 under the stock symbol VMTI. Forward Looking Statements This news release may contain forward-looking statements concerning the business and products of Vista Medical. Actual results may differ materially depending on a number of risk factors, including, but not limited to the following: the Company's efforts to maintain the continued listing requirements of the Nasdaq SmallCap Market Listing; the Company's ability to raise additional capital to fund our operations and execute our business plan; the Company's ability to penetrate the market for obesity surgery management services; customer acceptance of our products and services. Other risks inherent in our business are described in our Securities and Exchange Commission filings, including our Annual Report on Form 10-K for the year ended December 31, 2003 and our most recent quarterly report on form 10-Q. We undertake no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this release. For further information, please contact: Investors and Media, Tony Rossi of Financial Relations Board, +1-310-407-6563, , for Vista Medical Technologies; or John R. Lyon, President of Vista Medical Technologies, +1-760-603-9120, . DATASOURCE: Vista Medical Technologies, Inc. CONTACT: Investors and Media, Tony Rossi of Financial Relations Board, +1-310-407-6563, , for Vista Medical Technologies; or John R. Lyon, President of Vista Medical Technologies, +1-760-603-9120, Web site: http://www.vistamt.com/

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