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Former Patricof and Bank of New York Executive to Lead Board

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Mahwah, NJ, February 10, 2004 – DOBI Medical International, Inc. (“DBMI.OB”) announced today that Robert B. Machinist was recently elected by the Board of Directors as its non-executive Chairman of the Board of the Company. Mr. Machinist has extensive experience as a principle investor/operator as well as an owner-operator of diversified investment banking operations.

Since January 2002, he has been serving as a managing partner of M Capital, LLC, a private equity investment firm based in Rye, New York. His career includes over 12 years as president and one of the principle founders of Patricof and Company Capital Corp. and its successor companies, prior to its acquisition by the Bank of New York. From November 1998, until December 2001, he served as managing director and head of investment banking for the Bank of New York and its Capital Markets division. He also served as co-CEO at Midland Capital. His educational background includes a BA from Vassar College and graduate work at the Weizmann Institute in Rehovot, Israel. He is also Chairman of the American Committee for the Weizmann Institute of Science and a member of its International Board of Governors. Mr. Machinist is also a trustee of Vassar College and a member of its executive committee.

Phillip C. Thomas, Chief Executive Officer and a Director of DOBI Medical International, and acting Chairman prior to Mr. Machinist’s appointment, said “I am very pleased that Bob has agreed to take on this important leadership role. His significant experience and resources will be valuable to us as we implement the next phases of our business growth. Additionally, in today’s environment of heightened corporate governance, it is noteworthy that the Board has appointed a non-executive, independent director to serve as Chairman and as a member of our Audit Committee. I look forward to working with Bob and our other directors as we continue to build shareholder value”.

DOBI Medical International is an advanced development stage medical imaging company working to create a new means for the improved diagnosis of cancer through the detection of vascular changes (“tumor angiogenesis”) associated specifically with malignant tumors.
DOBI Medical’s first application of the technology is the ComfortScan™ system, a non-invasive, non-ionizing optical imaging system designed to assist physicians in the improved detection of breast cancer. The ComfortScan system is intended to achieve this by providing new, physiology-based imagery of vascular changes in the breast which are not readily available today.

Cautionary Statement Regarding Forward Looking Statements
This release may contain information that includes or is based upon certain “forward-looking statements” within the meaning of the Securities Litigation Reform Act 1995, relating to the business of DOBI Medical. These forward looking statements represent management’s current judgment and assumptions and can be identified by the fact that they do not relate strictly to historical or current facts. Forward looking statements are frequently accompanied by the use of such words as “anticipate”, “plans”, “believes”, “expects”, “project”, “intends”, or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including uncertainties relating to our ability to secure additional financing; success of product development efforts; our ability to timely meet government and industry regulations and standards; delays in the manufacturing process caused by our inabilities or the inability of our subcontractors to timely meet our specifications; our ability to establish international and domestic distribution networks, our ability to timely export our products to international markets; acceptance of the ComfortScan system as a adjunct to mammography by physicians, imaging clinics, and patients; our ability to obtain third party payer reimbursement; and our ability to compete on price and quality. Any one of these or other risks and uncertainties may cause actual results to be materially different from those described herein or elsewhere by us. Certain of these risks and uncertainties are or will be described in greater detail in our filings from time to time with the Securities and Exchange Commission, which we strongly urge you to read. Subsequent written and oral forward looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by the cautionary statements and risk factors set forth above and elsewhere and in our reports filed with the Securities and Exchange Commission. We expressly disclaim any intent or obligation to update any forward looking statements.

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For further information:
Please contact: Phillip C. Thomas, Chief Executive Officer

DOBI Medical International
1200 MacArthur Blvd.
Mahwah, New Jersey 07430
Voice: (201) 760 6464
Fax: (201) 760 8860


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