Exhibit 99.1

                PHASE III MEDICAL, INC. (formerly CORNICHE GROUP)
                           ANNOUNCES NEW STOCK SYMBOLS

Melville,  NY, July 29, 2003. Phase III Medical,  Inc.  (formerly Corniche Group
Incorporated (OTCBB: CNGI)) today announced its new stock symbols reflecting its
new corporate name. The new ticker symbol for the Common Stock will be PHSM. The
name change and new symbol will become effective on the OTC BB at the opening of
business tomorrow,  July 30. In addition, the new ticker symbol for the Series A
preferred stock will be PHSMP.

Last week, the Company  announced the change of its corporate name to "Phase III
Medical,  Inc." following  approval at its Annual Meeting of  Shareholders.  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.

                                    * * * * *

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