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News CryoCath Announces Filing and Mailing of Directors’ Circular Unanimously Recommending Acceptance of Offer from MedtronicMontreal, October 6, 2008 - CryoCath® Technologies Inc. (“CryoCath” or the “Company”) (TSX: CYT),
today announced the filing and mailing of the Directors’ Circular with respect
to the previously announced offer from Medtronic, Inc. (“Medtronic”) (NYSE:
MDT), through a wholly owned subsidiary, to acquire all of the outstanding
common shares of the Company. The Directors’ Circular is being mailed together
with the take-over bid circular of Medtronic. About Medtronic CryoCathCryoCath - www.cryocath.com - is a medical technology company that leads the world in cryotherapy products to treat cardiac arrhythmias. With annual revenue of approximately $40 million Cdn, its products are routinely used in more than 500 centers around the world. The Company’s flagship product, Arctic Front, is a minimally invasive cryo-balloon catheter designed specifically to treat Atrial Fibrillation, an emerging $2 billion market opportunity. Marketed in Europe and the subject of a pivotal study in the United States, Arctic Front has been used to treat approximately 3,100 patients. This press release includes "forward-looking statements" that are subject to risks and uncertainties, including with respect to the timing of regulatory trials and their outcome. For information identifying legislative or regulatory, economic, climatic, currency, technological, competitive and other important factors that could cause actual results to differ materially from those anticipated in the forward looking statements, see CryoCath's annual report available at www.sedar.com under the heading Risks and Uncertainties in the Management's Discussion and Analysis section. For further information, please contact:
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