CARDIOTECH AND GISH SHAREHOLDERS APPROVE MERGER

FOR IMMEDIATE RELEASE

Woburn,  Massachusetts,  and Rancho Santa Margarita,  California, March 6, 2003.
CardioTech   International   Inc.,   (AMEX:CTE)   and  Gish   Biomedical,  Inc.,
(NASDAQ:GISH),   announced  that  at  special   meetings  held  yesterday  their
respective  shareholders  approved  proposals  necessary to effect the merger of
CardioTech  and Gish.  CardioTech and Gish reported that more than 97 percent of
the votes cast were cast in favor of the merger.

"We are gratified that CardioTech and Gish  shareholders  have expressed  strong
support  for the  Merger.  The  management  Gish put in place  two years ago has
proved itself very effective,  as is evidenced by the fact that last quarter the
company was cash flow positive.  This merger is a major event for CardioTech.  I
strongly  believe  that this  acquisition  will be  accretive to earnings in the
first  year," said Dr. Mike  Szycher,  chairman and chief  executive  officer of
CardioTech.

Gish has mailed  out the notice of  dissenter's  rights to its  shareholders  as
required by California law. CardioTech has the option to elect out of the merger
if more than 5% of the Gish shares elect to dissent.  CardioTech and Gish expect
that the closing will take place on or about March 31, 2003.

CardioTech  may  issue up to 4.8  million  shares  of its  common  stock to Gish
shareholders in the merger.  Immediately  following the completion of the merger
it is expected that there will be  approximately 14 million shares of CardioTech
common  stock  outstanding.  The  shares  of  common  stock to be issued to Gish
shareholders in the merger will represent  approximately  35% of the outstanding
CardioTech  common  stock after the  merger.  This  information  is based on the
number of CardioTech and Gish shares outstanding on January 20, 2003.

This  acquisition   provides  CardioTech  with  a  leadership  presence  in  the
high-visibility  open-heart surgery field and advances its strategy of expanding
the breadth of FDA- cleared products it provides to hospitals. Gish's clean-room
facility is forty times as large as CardioTech's and will provide CardioTech the
resources  necessary  to expand  their  manufacturing  of new  medical  devices.
CardioTech  recently  received FDA clearance for an advanced  wound dressing for
which there is an estimated annual $300 million market.

Gish  Biomedical  is  located  in  Rancho  Santa  Margarita,   California,   and
specializes in the manufacture and sale of products used in open-heart  surgery,
vascular access and orthopedic  surgery.  Gish is registered as a medical device
manufacturer  with the FDA, the European Union and state  agencies,  such as the
California Department of Health Services ("CDHS").

CardioTech International, Inc. maintains operations in Woburn, Massachusetts and
Plymouth, Minnesota.  CardioTech (i) is developing a polyurethane-based vascular
graft  (artificial  arteries) for the treatment of heart disease,  (ii) produces
medical  grade  polyurethanes  for use in  implantable  medical  devices,  wound
dressings, and (iii) manufactures medical devices on an OEM basis.

The Companies believe that this release contains forward-looking statements that
are subject to risks and uncertainties. These forward-looking statements include
expected results. Such statements are based on management's current expectations
and are subject to a number of facts that could cause  future  results to differ
materially from the forward- looking statements. For further information you are
encouraged to review the  companies'  filings with the  Securities  and Exchange
Commission.

For more information contact:

Michael Szycher, Ph.D.
Chief Executive Officer
(781) 933 4772

or

Dave Gentry
Aurelius Consulting Group, Inc.
(407) 644-4256
Aurelius@cfl.rr.com