EXHIBIT 99

FOR IMMEDIATE RELEASE
---------------------

Contact:  J. Randall Nelson, Chairman & CEO  Jeffrey Lamberson or Jason Chautin
          Equidyne Corporation               Monde Consulting
          (858) 451-7001                     (415) 479-7997

               EQUIDYNE CORPORATION ADOPTS STOCKHOLDER RIGHTS PLAN

     Westford, Mass. February 13, 2001: Equidyne Corporation (AMEX: IJX)
announced today that its Board of Directors has adopted a Stockholder Rights
Plan to deter unfair takeover tactics.

          The Rights Plan is designed to deter and to prevent an acquirer from
gaining control of the Company by accumulating shares in the open market or
through private transactions without offering a fair price to all stockholders.
The distribution of the rights is not intended to prevent a takeover of the
Company and should not deter any prospective bidder willing to negotiate with
the Board of Directors and pay a full and fair price for the Company's shares.
Management has not received any third-party offers regarding a takeover of the
Company.

          The rights will be distributed to stockholders as a dividend at the
rate of one right for each share of Common Stock at the close of business of
February 14, 2001. No separate certificates will be issued. The rights will be
evidenced by the existing stock ownership and will expire on January 21, 2011,
subject to redemption or earlier termination. The distribution is not taxable to
stockholders.

          Initially, the rights cannot be exercised and will automatically trade
with the Common Stock. Upon any person commencing a tender offer for or
otherwise acquiring 15% or more of the Company's outstanding Common Stock, the
rights would trade separately and become exercisable, entitling the holder of
each right (other than the person commencing the tender offer or making the
acquisition) to purchase one one-hundredth of a share of the Company's to be
created Series C Preferred Stock at an exercise price of $40.00 per right,
subject to adjustment.

          Upon any acquisition transaction to which the Rights Plan applies,
each unexercised right would entitle the holder to purchase a number of shares
of the Company's Common Stock having a market value equal to two times the
$40.00 per right exercise price. If Equidyne Corporation is not the surviving
entity in the transaction, each unexercised right would entitle its holder to
purchase a number of the acquiring entity's common shares having a market value
of two times the exercise price.

          The Company may redeem the rights at $0.001 per right at any time
until ten business days after any person or its affiliate has acquired 15% or
more of the outstanding shares of Common Stock.

               The Company is filing a Form 8-K with the Securities and Exchange
Commission with respect to the Rights Plan. The filing contains a copy of the
Rights Plan and the exhibits thereto.





          Equidyne Corporation (www.equidyne.com), through Equidyne Systems,
Inc., a wholly-owned subsidiary based in San Diego, California, is focused on
becoming the worldwide leader in needle-free drug delivery systems for
subcutaneous and intramuscular injections. The INJEX(TM) needle-free injector is
a compact, uncomplicated device that delivers a virtually painless injection
through the skin in a fraction of a second, and eliminates needle stick and
disposal problems. For medications requiring injection, we believe the INJEX(TM)
System is by far the most comfortable and economical product on the market.

THE STATEMENTS CONTAINED IN THIS NEWS RELEASE THAT ARE NOT PURELY HISTORICAL ARE
FORWARD-LOOKING STATEMENTS THAT MAY INVOLVE RISKS AND UNCERTAINTIES. THE
COMPANY'S ACTUAL RESULTS MAY DIFFER SIGNIFICANTLY FROM THE RESULTS CONTAINED IN
THE FORWARD-LOOKING STATEMENTS. FACTORS THAT MIGHT CAUSE SUCH DIFFERENCES
INCLUDE, BUT ARE NOT LIMITED TO, THE EFFECT OF LOSSES AND OTHER FACTORS ON THE
COMPANY'S CREDIT FACILITIES, BUSINESS AND RESULTS OF OPERATIONS; THE COMPANY'S
CAPITAL RESOURCES AND ITS ABILITY TO FULFILL ITS EXISTING OBLIGATIONS AND
ONGOING CAPITAL NEEDS; RISKS ASSOCIATED WITH EXCESS OR OBSOLETE INVENTORY; THE
POTENTIAL IMPAIRMENT OF ASSETS; DELAYS IN PRODUCT INTRODUCTIONS; CHANGES IN
HEALTHCARE REGULATIONS AND THE ABILITY TO OBTAIN FAVORABLE INSURANCE
REIMBURSEMENT COVERAGE FOR THE COMPANY'S PRODUCTS; PRODUCT ACCEPTANCE OR CHANGES
IN GOVERNMENT REGULATION OF THE COMPANY'S PRODUCTS, THE COMPANY'S ABILITY TO
MANUFACTURE ITS PRODUCTS IN SUFFICIENT QUANTITIES TO MEET THE DEMANDS OF THE
MARKETPLACE; THE COMPANY'S DEPENDENCE ON KEY CUSTOMERS AND SUPPLIERS AND THEIR
FINANCIAL VIABILITY; THE IMPACT OF COMPETITION; AND THE COMPANY'S ABILITY TO
EFFECTIVELY MANAGE GROWTH. THESE AND OTHER RISK FACTORS ARE DISCUSSED IN THE
COMPANY'S FILINGS ON FORMS 8-K, 10-QSB AND 10-KSB.