Zargis Signs Exclusive Pact With Johns Hopkins University

PRINCETON, N.J., November 12, 2004 - Zargis Medical Corp., a majority-owned subsidiary of Speedus Corp. (NASDAQ: SPDE), announced today it has signed an exclusive agreement with Johns Hopkins University and its Applied Physics Laboratory.

The agreement will give Zargis exclusive commercial rights to JHU's signal processing algorithms, certain patents including "System and Method for Diagnosing Pathologic Heart Conditions", patent applications and other intellectual property, including an extensive cardiac research database of more than 6,500 recordings from over 1,200 individuals. This collaboration between Zargis and JHU will not only enable Zargis to expedite its product development pipeline in this field, but also accelerate any potential clinical adoption through association with one of the world's leading medical research centers.

The agreement will also provide access to JHU's outstanding clinical and scientific staff who will supplement Zargis' research and development capabilities to enhance and develop future products.

"This work is a natural follow-on to signal processing techniques and algorithms we have developed for detecting and classifying submarines and we are very excited to be working with the research and clinical teams at Zargis," commented Physicist Scott Hayek from the Applied Physics Lab of Johns Hopkins University.

According to John Kallassy, Managing Director of Zargis, "This agreement furthers Zargis' current leadership position in computer-assisted heart sound analysis which has the potential to both improve the quality of patient care and reduce the costs associated with unnecessary referrals."

About Johns Hopkins University and Applied Physics Laboratory

The Applied Physics Laboratory, a division of The Johns Hopkins University, meets critical national challenges through the innovative application of science and technology. For information, visit www.jhuapl.edu .

The Johns Hopkins University School of Medicine strives to provide international leadership in the education of physicians and medical scientists, in biomedical research, and in the application of medical knowledge to patient care. For information, visit www.hopkinsmedicine.org .

About Zargis Medical Corp.

Zargis Medical Corp. was formed in January 2001 when Siemens Corporate Research Inc., a subsidiary of Siemens AG (NYSE: SI), and Speedus Corp. (NASDAQ: SPDE) co-invested in Zargis to further develop and commercially market an advanced acoustic technology for detecting abnormalities identified through analysis of heart sounds. Based in Princeton, New Jersey, Zargis is developing advanced diagnostic decision support products and services for primary care physicians, pediatricians, cardiologists and other healthcare professionals.

Zargis has developed Cardioscan, the first and only FDA approved computer-assisted medical device to support physicians in analyzing heart sounds for the identification of suspected murmurs, a potential sign of heart disease. Cardioscan is easy to use, non-invasive, portable, and takes just minutes to perform. Developed by scientists from Siemens and Zargis over many years, Cardioscan implements voice-guided protocol and graphical user interface while maintaining an efficient physician workflow. The system provides a summary of findings in terms that are readily understood by physicians with more quantitative auscultatory information than is possible through listening alone. Thus, Cardioscan enhances auscultation which has been universally employed through a stethoscope for nearly two hundred years.

For additional information on Speedus Corp. or Zargis Medical, contact John Kallassy, 718.567.4358, jkallassy@speedus.com, or visit their websites at www.speedus.com and www.zargis.com.

For additional information on Siemens Corporate Research, visit their website at www.scr.siemens.com.

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