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DOBI Medical International, Inc. Inaugurates Business Advisory Committee
Barbara W. Hearst, John J. McAtee, Jr. And Others To Serve

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Mahwah, NJ, July 7, 2004 – DOBI Medical International, Inc. (OTCBB-DBMI) announced today that it has created a Business Advisory Committee to assist the Company and Management as the Company continues to grow. The Business Advisory Committee will serve as a business corollary to the Company’s existing Scientific and Medical Advisory Committee. Recently appointed members of the new Business Advisory Committee include John J. McAtee, Jr., former Vice Chairman, and Head of Investment Banking at Smith Barney, and Barbara Willis Hearst, formerly a Board and Executive Committee member of the Institute for Cancer Prevention. Mrs. Hearst is the spouse of John Randolph Hearst, grandson of the publisher William Randolph Hearst. The Company is also in discussions with other business leaders regarding service on the Business Advisory Committee.

The Business Advisory Committee will provide input regarding the implementation of the Company's strategic plan, as disclosed to the public, as well as providing input to senior management regarding the Company’s sales, marketing, investor and public relations programs.

Barbara Hearst commented on her new role on the Business Advisory Committee by stating, “I am very impressed with the technology and management of DOBI Medical and pleased to be invited to contribute my perspective as we strive to see the ComfortScan system become a widely utilized tool in the efforts to deal more effectively with breast cancer. I believe more can be done in this area, and DOBI Medical is pioneering important new thinking for improved breast care for women.”

Phillip C. Thomas, DOBI Medical’s Chief Executive Officer commented, “The Business Advisory Committee will be an invaluable resource group to aid in our efforts to grow and improve the Company. Jack McAtee is a well known and respected veteran of Wall Street and a senior partner at the international law firm Davis, Polk, and Wardwell, and we are particularly pleased to have Barbara Hearst involved due to her long standing devotion to cancer related activities at the Institute for Cancer Prevention.”

About DOBI Medical International, Inc.
DOBI Medical International is a development stage medical imaging company working to create a new means for the improved diagnosis of cancer through the detection of abnormal vascularization ("angiogenesis") associated with tumors. DOBI Medical International’s first application of the technology is the ComfortScan system, a gentle, non-invasive, and non-ionizing, optical imaging system designed to assist physicians in the detection and management of breast cancer. The ComfortScan system is intended to achieve this by providing new, physiology-based imagery of abnormal vascularization in the breast that is not readily available today.

CAUTIONARY STATEMENT FOR FORWARD LOOKING STATEMENTS
Statements contained in this press release may contain information that includes or is based upon certain “forward-looking statements” 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 federal, local and foreign government and industry regulations and standards; timely and successful completion of our patient clinical trials and submission of our premarket approval application to the FDA; final approval of our ComfortScan system by the FDA; delays in the manufacturing process caused by our inabilities or the inabilities 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 and use of our ComfortScan system 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, including our 2003 Annual Report on Form 10-KSB filed on February 18, 2004. 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 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
201-760-6464
pct@igaot.pt

DOBI Medical International
1200 MacArthur Blvd.
Mahwah, New Jersey 07430
Voice: (201) 760 6464
Fax: (201) 760 8860
e-mail: information@igaot.pt

 
 


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