CNWI Cardiac Network Inc (CE)

Cardiac Network, Inc. (PINKSHEETS: CNWI) announced today that it will retire 51 million shares of common stock as part of a capital restructuring in which founders and early stage investors agreed to make voluntary downward adjustments in their respective holdings.

The restructuring plan was undertaken in anticipation of, and to facilitate, capital structure requirements from funding partners. Michael C. Swartzburg, President and CEO, stated, "This is just one of many positive steps we are taking towards executing on our short and long-term financial strategies that we believe will benefit all of Cardiac Network's shareholders."

Cardiac Network has only one class of common and no preferred stock in issue. Prior to the restructuring, the Company had issued and outstanding 105,179,006 shares. In the voluntary restructuring, the founders and early investor groups agreed to surrender a total of 51,331,669 shares. These actions will reduce the shares outstanding number to 53,847,337 shares of common stock. All other shares, including free trading shares currently traded on the Pink Sheets, will remain unaffected.

About Cardiac Network, Inc.

Cardiac Network, Inc. is a medical technology company providing cardiac monitoring and diagnostic services to general practitioners and specialist physicians, for the investigation of patients with abnormal cardiac rhythm and function. The service uses unique transtelephonic (by telephone) cardiac recorders that monitor and provide diagnostic information to physicians and their patients. Cardiac Network also offers detection services to individuals which helps them quickly determine if they are having severe heart rhythm abnormalities so they can obtain immediately needed medical treatment. Learn more about Cardiac Network, Inc. by visiting, www.cardiacnetwork.net.

Forward-Looking Statements

Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently unreliable and actual results may differ materially. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as fluctuations in demand for Cardiac Network's products, Cardiac Network's ability to maintain strategic business relationships, the impact of competitive products and pricing, growth in targeted markets and the adequacy of Cardiac Network's liquidity and financial strength to support its growth. Cardiac Network undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact: Cardiac Network, Inc. Michael Swartzburg 415-362-2020 Email Contact