Exhibit 99.1

FOR IMMEDIATE RELEASE

                            Corniche Group Announces
                     Name Change to PHASE III MEDICAL, INC.

Melville,  NY, June 24, 2003.  Corniche Group Incorporated  (OTCBB:  CNGI) today
announced the results of its Annual Meeting of  Shareholders.  The  shareholders
approved its change of the Corporation's  name to "Phase III Medical,  Inc." The
Company believes that Phase III Medical, Inc. is an appropriate name in light of
the new nature of its  business.  The Company has been  focusing on entering the
medical  sector by acquiring  or  participating  in one or more  biotech  and/or
medical companies or technologies,  owning one or more drugs or medical devices,
or  acquiring  rights to one or more of such  drugs or  medical  devices  or the
royalties  therefrom.  It would not be necessary for  stockholders  to surrender
their present Corniche Group stock  certificates as a result of the name change.
The Company has applied to NASDAQ for a new stock symbol.

In addition, the Company's shareholders elected two directors: Mark Weinreb, the
current  President and Chief  Executive  Officer of the Company and Dr. Wayne A.
Marasco,  an Associate  Professor in the Department of Cancer and Immunology and
Aids at the Dana-Farber Cancer Institute and Associate  Professor of Medicine in
the  Department of Medicine,  Harvard  Medical  School.  The  shareholders  also
approved an increase in the number of authorized  shares of the Company's common
stock and adoption of the Company's 2003 Equity Participation Plan.

                                    * * * * *

This  Release  contains  forward-looking  statements  made  pursuant to the safe
harbor provisions of the Private Securities  Litigation Reform Act of 1995, such
as the Company's ability to enter the medical sector or acquire any companies or
technologies.   Forward-looking   statements  represent   management's  judgment
regarding  future events.  Although  management  believes that the  expectations
reflected in such  statements  are  reasonable,  it gives no assurance that such
expectations  will  prove to be  correct  and you  should be aware  that  actual
results  could differ  materially  from those  contained in the  forward-looking
statements due to a number of factors.  These factors include the risks detailed
in the Company's Annual Report on Form 10-K for the year ended December 31, 2002
and other reports filed with the Securities and Exchange Commission.

For further information please contact:

Mark Weinreb, CEO at 631.574.4955