Urodynamix Technologies Ltd. Closes $2.5 Million Private Placement

Urodynamix Technologies Ltd. (TSX VENTURE:URO) is pleased to announce that it
has closed the first tranche of its private placement previously reported on
October 15, 2008. Under the first tranche BC Advantage Funds (VCC) Ltd. has
purchased 25,000,000 shares of the Company at a price of $0.10 per share for
total proceeds of $2.5 million.


The Company will offer an additional 10,000,000 shares to third parties at a
price of $0.10 until December 1, 2008. The Company will pay a commission to
Lions Capital Corp. ranging from 2.5% up to 7.5% on sales of the overallotment
shares to third parties. No commission was payable on the 25,000,000 shares
issued to BC Advantage Funds under the first tranche of the private placement.
All of the shares issued under the private placement are subject to a four month
resale restriction.


Barry Allen, President and Chief Executive Officer, said, "We view the
additional investment made by BC Advantage Funds as a strong vote of confidence
in Urodynamix and the NIRS technology. We are excited about the continued
validation of the NIRS technology value proposition and with this funding we
will continue to execute on our business strategy of leveraging our technology
to commercialize multiple products targeted at multiple sales channels."


Assuming the additional 10,000,000 shares are issued in connection with the
overallotment of the private placement, Lions Capital Corp. and BC Advantage
Funds will have control or direction of 36.8% and 35.5%, respectively, of the
voting shares of the Company while Lions Capital Corp. and BC Advantage Funds
will have control or direction of 40.2% and 38.9% of the voting shares of the
Company, respectively, if the overallotment does not close. The TSX Venture
Exchange requires that shareholders of the Corporation approve BC Advantage
Funds becoming a control person of the Corporation. Under the terms of the
financing, $500,000 of the subscription proceeds have been deposited in escrow
and will be released to the Corporation upon the approval by the Company's
shareholders of BC Advantage Funds being a control person. The Company has
covenanted to submit the matter to shareholders for approval. The Company has
also granted BC Advantage Funds the ongoing right to invest up to 20% on all
future financings, so long as BC Advantage Funds holds 10% or more of the issued
and outstanding shares of the Company.


About Urodynamix Technologies Ltd.

Urodynamix Technologies is a Canadian medical device company developing and
commercializing non-invasive medical technology based on proprietary
applications of near-infrared spectroscopy (NIRS). The Company is currently
focused on products that aid in the diagnosis and treatment of urinary
incontinence, lower urinary tract symptoms, erectile dysfunction, prostate
cancer, benign prostatic hyperplasia, and traumatic increases in intra-abdominal
pressure that cause abdominal compartment syndrome. Urodynamix's breakthrough
medical technology has the potential to beneficially affect more than 200
million people worldwide.


About BC Advantage Funds

BC Advantage Funds, www.bcadvantagefunds.com , is a venture capital corporation
that invests in early-stage life science, technology and clean tech companies
located in British Columbia. Its investors receive a 30% refundable tax credit
from the BC Government on investments of up to $200,000 per year and the ability
to redeem their shares at the net asset value five years after BC Advantage
Funds invests their funds into eligible small businesses.


Certain information contained in this press release may be forward-looking and
is subject to unknown risks, which could cause actual results to differ
materially from those set forth or implied herein. Although the Company believes
that the expectations reflected in such forward-looking statements are
reasonable, it can give no assurance that such expectations will prove correct.

Urodynamix Technologies Ltd. (TSXV:URO)
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