NIR Diagnostics announces notice from secured creditor

    TSX Venture: NID

    CAMPBELLVILLE, ON, Oct. 2 /CNW/ - NIR Diagnostics Inc. (the "Company")
(TSX Venture: NID), today announced that the Company has received notice from
Ventabren Holdings Limited of its intention to enforce security under the
terms of two convertible debentures in the principal amount of $2,750,000. The
Company has consented to the immediate enforcement of the security and the
appointment of a Receiver.
    The Company understands that a Receiver will be appointed within days,
and until that time, no changes are anticipated to business operations or the
roles and responsibilities of the officers and directors of the Company.

    Forward-looking Statements

    This press release contains forward-looking information. Forward-looking
statements are not guarantees of future performance, and actual results may
differ materially from those expressed or implied in such forward-looking

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

For further information:

For further information: Duncan MacIntyre, President, CEO and Executive
Vice Chairman, NIR Diagnostics Inc., (905) 854-5727, (905) 854-5729 Fax,
E-mail:, Internet:; Ross
Marshall, Investor Relations, (416) 815-0700 ext. 238, (416) 815-0080 Fax,
E-mail:, Internet:

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