With the Mutually Agreed to Terms Sheet Completed, WayPoint and Global Expect to Finalize and Sign the Definitive Documents Within the Next Two Weeks HUNTINGTON BEACH, Calif., (GVIPT), March 7 /PRNewswire-FirstCall/ -- WayPoint Biomedical Holdings, Inc. (OTC:WYPH) and Laguna Hills, CA based Global Informatics Technology, Inc. have signed a Letter of Intent to facilitate the formation of a 50/50 Joint Venture. The yet-to-be-named JV will be responsible for forming and implementing the worldwide commercialization of Global Informatics' patented, Smart Card based, Electronic Medical Records (EMR) System. Global Informatics Chairman and CEO, Mr. John Vanelli, states, "We are extremely excited about the opportunity to join forces with WayPoint Biomedical. There is a groundswell of enthusiasm surrounding the need to make available to every American his or her records in medical form." Vanelli adds, "In addition to President Bush, Republicans and Democrats on both sides of the aisle are embracing further legislation ensuring that this takes place. There are many companies that are focusing on just medical records onto a computer system within an organization and other companies that are targeting electronic prescriptions or insurance claims, our company has a unique system that offers our government, insurance companies and doctors one total medical healthcare package that will address their health care and HIPPA (Health Insurance Portability and Accountability Act) related requirements." WayPoint Biomedical CEO, Dennis Shepherd, comments, "We are absolutely thrilled about the opportunity to form a JV with Global Informatics. With the incidence of medical fraud and errors exploding to an estimated $120 billion annually, this patented system will directly address fraud on multiple levels. The small pocket portable system is doctor friendly; it can easily generate a prescription or insurance claim, and reduce office overhead costs by an estimated 30%, and it gives physicians more time to see new patients." Mr. Shepherd also adds, "We are at right place at the right time with the right product. This smart card based system is just what the public and government are looking for, and this technology is supported by the following excerpt from President Bush's January 31, 2006 State of the Union Address, the President states: 'We will make wider use of electronic records and other health information technology, to help control costs and reduce dangerous medical errors. We will strengthen health savings accounts -- making sure individuals and small business employees can buy insurance with the same advantages that people working for big businesses now get. We will do more to make this coverage portable, so workers can switch jobs without having to worry about losing their health insurance. And because lawsuits are driving many good doctors out of practice -- leaving women in nearly 1,500 American counties without a single OB/GYN -- I ask the Congress to pass medical liability reform this year.'" About WayPoint Biomedical WayPoint Biomedical, Inc., a wholly owned subsidiary of WayPoint Biomedical Holdings, Inc. (OTC:WYPH), is an innovative biomedical technology firm, specializing in diagnostic tests and devices for screening and monitoring human health, fitness and environment. The Company develops and markets cutting-edge disposable rapid tests that offer both a preliminary diagnostic screen to specific conditions, along with a future path for consumers, medical providers, and first responders to follow regarding their health status or environmental condition. WayPoint's unique and affordable home-based and on-site tests are focused on detecting the cause of a disease or pathogen, as opposed to determining the symptom; becoming a part of the solution to help reverse the escalating cost of Healthcare. The Company's primary target sectors are the Over the Counter (OTC) Self-Testing Market, the Diagnostic Point of Care (POC) Testing Market, and the Homeland Security & Defense Market; three of the fastest growing areas in all of diagnostic medicine and science. For more information on WayPoint Biomedical, visit http://www.waypointbiomedical.com/, http://www.drinkdetectiveusa.com/. Included in this release are certain "forward-looking" statements, involving risks and uncertainties, which are covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding WayPoint's performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, the success of enhancements to WayPoint's brand image, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. WayPoint Biomedical does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law. DATASOURCE: WayPoint Biomedical, Inc. CONTACT: Dennis Shepherd, +1-714-848-3200, , or IR, David Kugelman, +1-866-692-6847, both WayPoint Biomedical, Inc. Web site: http://www.waypointbiomedical.com/ http://www.drinkdetectiveusa.com/

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