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FOR IMMEDIATE RELEASE

CONTACT: CRAIG SMITH

949.951.3800 EXT. 288
csmith@trimedyne.com
 

TRIMEDYNE REPORTS REVENUES AND PROFIT FOR THE QUARTER AND NINE MONTHS ENDED JUNE 30, 2004

       August 12, 2004 – Irvine, CA: TRIMEDYNE, INC. (OTCBB “TMED”) today reported a net profit of $158,000 or $0.01 per share, fully diluted, on revenues of $1,696,000 for the quarter ended June 30, 2004, compared to a net profit of $331,000 or $0.02 per share, fully diluted, on revenues of $1,497,000 for the same quarter of the prior year.  This represents the Company’s seventh, consecutive, profitable quarter.

       Revenues in the current quarter were 13% higher than in the same period of the prior year, primarily due to an increase in laser sales.  With lasers selling for $40,000 to $100,000, an increase or decrease in the number of lasers sold in a quarter can have a significant impact on revenues and profits.  Sales of disposable and reusable fiber optic devices remained relatively stable in the quarter ended June 30, 2004, compared to the prior year quarter.

       As a percentage of sales, compared to the same quarter of the prior year, the Company’s cost of goods increased to 51% from 43%, SG&A increased to 34% from 32%, R&D expenses rose to 5% from 2%, and gross profit declined to 49% from 57%.  A $20,000 provision for income tax was made in the current quarter, while $17,000 of income tax was incurred in the prior year quarter.

       In the current quarter, the increase of cost of goods and decrease in gross profit was largely due to slightly lower selling prices for lasers, a higher proportion of new lasers being sold, versus older, partially amortized units, and the cost of expanding operations of the Company’s wholly-owned laser rental subsidiary, which is expected to result in increased revenues in the future.

       For the nine months ended June 30, 2004, the Company had a net profit of $472,000 or $0.03 per share on revenues of $4,350,000 compared to a net profit of $828,000 or $0.06 per share on revenues of $4,835,000 in the same period of the prior year.  As a percentage of sales, compared to the same period of the prior year, the cost of goods increased to 51% from 48%, SG&A increased to 39% from 32%, R & D expenses increased to 6% from 3% and gross profit decreased to 49% from 52%.  Provisions for income tax were $24,000 in the current nine month period, versus $43,000 in the prior year period.

       Trimedyne manufactures lasers and proprietary fiber optic devices for a variety of minimally invasive surgical procedures, many of which are performed on an outpatient basis at substantially less cost than conventional surgery.  For product, financial and other information, visit Trimedyne's website, http://www.trimedyne.com.

 "Safe Harbor" Statement Under the Private Securities Litigation Reform Act:

       Statements in this news release may contain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1993 and Section 21E of the Securities and Exchange Act of 1934.  Such statements may involve various risks and uncertainties, some of which may be discussed in the Company's most recent report on Form 10-KSB and subsequently filed SEC reports.  There is no assurance any new products can be cleared for sale by the FDA or successfully commercialized or any forward-looking statements will prove accurate, as actual results and future events could differ materially from those presently anticipated.

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