NIR DIAGNOSTICS RELEASES ADDITIONAL HemoNIRT DATA

Campbellville, ON, November 5, 2004 - NIR Diagnostics Inc., (TSX Venture: NID), a leading-edge developer of near-infrared medical diagnostic instruments, today released additional data from internal testing of HemoNIR(tm), its hand-held diagnostic device that uses light to measure functional and non-functional hemoglobin. The new results demonstrate that the HemoNIR(tm) device provides the same level of accuracy as industry standard reference laboratory CO-oximetry devices and were obtained using the same analyte-specific calibration algorithms on two separate handheld prototypes.

"Our laboratory testing continues to produce results that highlight the accuracy and viability of the HemoNIR(tm) device and of our NIR technology platform," said Duncan MacIntyre President and CEO. "These successful results give confidence to NIR Diagnostics meeting the internal target date for an FDA filing."

The HemoNIR(tm) device and NIR Diagnostics are featured in the "Leading Edge Report" by MD Buyline, an independent healthcare intelligence firm based in Texas. The article outlines the market position of HemoNIR(tm) for hospital professionals. The article and the new HemoNIR(tm) results are both posted on the NIR Diagnostics website. (www.nirdiagnostics.com)

About HemoNIR(tm)
HemoNIR(tm) is a portable reagentless device that measures the ability of a person's blood to carry oxygen by monitoring non functional vs. functional hemoglobin from a drop of blood. HemoNIR(tm) specifically measures Carboxy-hemoglobin, Met-hemoglobin, and Total Hemoglobin in whole blood without requiring direct interaction with the sample or the use of chemical reagents. This device will allow medical personnel to determine whether factors such as drugs or smoke inhalation (carbon monoxide poisoning) have affected a patient's blood prior to measuring blood oxygen levels using pulse-oximetry. Existing technology with an equivalent function is expensive and limited to bench top laboratory use. HemoNIR(tm) will operate in combination with pulse-oximetry equipment in point-of-care applications.

About NIR Diagnostics
NIR Diagnostics is a leading developer of near infrared, spectroscopy based, medical diagnostic technology. The Company has an extensive portfolio of optical, electronic and algorithm related patents in the field of in vitro and in vivo blood analysis.

For more information, please contact:

Duncan MacIntyre
President & CEO
NIR Diagnostics Inc.
905-854-5727
905-854-5729 Fax
E-mail: info@nirdiagnostics.com
Internet: www.nirdiagnostics.com

Jason Hogan
Investor Relations
The Equicom Group Inc.
416-815-0700 ext. 222
416-815-0080 Fax
E-mail: jhogan@equicomgroup.com
Internet: www.equicomgroup.com

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