Medamicus, Inc. File no. 0-19467
                                                                    Exhibit 99.2



Medamicus intends to file a registration statement on Form S-4 in connection
with the transaction with BIOMEC, Inc. discussed below. Investors and
security-holders of Medamicus and BIOMEC are urged to read the registration
statement and the joint proxy statement/prospectus that will be disseminated to
the respective security-holders when they become available because these
documents will contain important information. When available, investors and
security-holders may obtain a free copy of the joint proxy statement/prospectus
at the SEC's web site at www.sec.gov. A free copy of the joint proxy
statement/prospectus may also be obtained from either of the companies.



                            STATEMENT OF JIM HARTMAN
                      PRESIDENT AND CEO OF MEDAMICUS, INC.
                                  JULY 22, 2003


Good day. My name is Jim Hartman and I'm the President and Chief Executive
Officer of Medamicus. My comments today will contain forward-looking statements
that involve risks and uncertainties. Any number of factors could cause our
results to vary from those that may be anticipated by some statements made
today. You should read our press release issued this morning and our SEC filings
for a listing of some of the factors that could cause results to differ
materially.

During my remarks today I will discuss the pertinent points related to our
second quarter results, provide some revenue guidance for the upcoming quarters,
discuss in more detail our announcement regarding the acquisition of the
operating assets of Biomec Cardiovascular Inc. and then, as in the past, I will
attempt to answer any questions you may have. I'm joined today by Mark Kraus,
our chief operating officer, who will assist me during our Q & A session in
dealing with questions regarding our operations and the Biomec acquisition.

Before beginning the substance of my remarks however, I want to read the
following. IN CONNECTION WITH OUR PROPOSED ACQUISITION OF THE OPERATING ASSETS
OF BIOMEC CARDIOVASCULAR INC., MEDAMICUS INTENDS TO FILE A REGISTRATION
STATEMENT ON FORM S-4 IN CONNECTION WITH THE




TRANSACTION, AND MEDAMICUS AND BIOMEC WILL MAIL A JOINT PROXY
STATEMENT/PROSPECTUS TO THEIR RESPECTIVE SHAREHOLDERS. INVESTORS AND SECURITY
HOLDERS OF MEDAMICUS AND BIOMEC ARE URGED TO READ THE JOINT PROXY
STATEMENT/PROSPECTUS WHEN IT BECOMES AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT
INFORMATION ABOUT THE COMPANIES, THE TRANSACTION, THE PERSONS SOLICITING PROXIES
RELATING TO THE TRANSACTION, THEIR INTERESTS IN THE TRANSACTION, AND RELATED
MATTERS. WHEN AVAILABLE, INVESTORS AND SECURITY-HOLDERS MAY OBTAIN A FREE COPY
OF THE JOINT PROXY STATEMENT/PROSPECTUS AT THE SEC'S WEB SITE AT WWW.SEC.GOV. A
FREE COPY OF THE JOINT PROXY STATEMENT/PROSPECTUS MAY ALSO BE OBTAINED FROM
EITHER OF THE COMPANIES. Having said that, let me turn to our second quarter
results.

Our second quarter results reflected a decline in sales to $4,338,000, compared
to $4,382,000 in the second quarter of 2002. This decline is only one percent,
even though sales of left ventricle lead delivery systems to Medtronic were
nearly $1,000,000 less than in the same quarter a year ago. Our net income of
$474,000, or $.10 per diluted share, was a twenty-four percent decline over net
income of $628,000, or $.13 per diluted share, in the comparable period of last
year. Year-to-date, our sales increased by 4 percent to $9,006,000, compared to
$8,681,000 in the first six months of last year. Sales of left ventricle lead
delivery systems to Medtronic in the first six months of 2003 were $1,940,000
less than during the same period last year. Net income declined 10 percent for
the six months ended June 30, 2003 to $1,106,000, or $.22 per diluted share,
from $1,225,000, or $.25 per diluted share a year earlier.

In the second quarter, our core product line of bulk and kit-assembled venous
introducers grew 32 percent over the second quarter of last year. This category
includes standard introducer kits sold to Medtronic and bulk non-sterile
introducers sold to a number of other companies. The increase came from a
combination of growth in introducer sales to Bard Access Systems, as well as a
broad based growth in introducer sales to other customers. Over the past two
years, we have been




successful in gaining the introducer business of a number of other significant
players in the non-pacing venous access market, and sales to these companies
continue to grow at double-digit rates. During the second quarter we
manufactured introducers at a run rate of over 1,600,000 units on an annualized
basis, over 40 percent of the estimated market.

Unfortunately, we found it necessary to suspend shipments of our FlowGuard
valved introducer during the quarter, because of concerns over the integrity of
the sheath handle. We had no incidences of field failure but our internal tests
indicated that the handle had the potential to be an issue and we made the
decision to reformulate the handle resin and assure ourselves and our customers
that products shipped from Medamicus are of the highest quality. This action had
a modest impact on our sales but a more significant impact on our net income. We
reversed sales of product already shipped of slightly less than $100,000 within
the quarter and cancelled customer orders for amounts greater than that. We also
took the write-offs necessary to account for the cost of stopping production and
scrapping inventory. In total those costs reduced our after tax income in the
quarter by approximately $.03 per share.

The current timeline to return to the market would indicate that we could be
selling FlowGuard introducers either late in the fourth quarter or early next
year. The high level of enthusiasm for the FlowGuard at the physician level
provides us with optimism that the re-launch of the product will be a successful
one and give the year 2004 a boost from the start.

We sold $61,000 of safety needles during the quarter compared to $34,000 a year
ago. The majority of these sales came from the inclusion of our needle in
procedural kits that we package for Medtronic. The initial release of the safety
needle product is well underway, and at least anecdotally, the needle has been
well received. Contrary to the first quarter when we had to assemble a large
quantity of needles by hand, our automated safety needle assembly system is





functioning, although we continue to work on our yields, and we are now
producing safety needles to fulfill the initial orders from Cook Incorporated
and continue supplying safety needles in Medtronic kits. We signed a supply
agreement with Cook in April of 2003 to distribute single packaged needles to
the hospital market in the US and we expect Cook will launch the product late in
the third quarter.

As stated earlier, we were able to replace nearly $1,000,000 in sales of
advanced delivery products during the quarter and nearly $2,000,000
year-to-date. Those sales, totaling $1,562,000 in the second quarter last year
and $564,000 in this year's second quarter, were primarily left ventricle lead
delivery system kits (LVLDS) and related components, to Medtronic. As we
announced last year, packaging of the next generation of LVLDS kits has
transitioned to a Medtronic facility. We expect a reduction in LVLDS sales in
the third and fourth quarters of this year similar to what we experienced in the
first two quarters. While we hope to continue to play a role in the component
portion of future LVLDS kit designs, there is no assurance that the components
we now sell Medtronic for its next generation kit will be a part of any future
designs Medtronic brings to market.

Our gross margins were 42.0 percent for the quarter compared to 46.1 percent a
year ago. This reduced level of gross margin was almost exclusively associated
with the FlowGuard write-offs that reduced our gross margins by over four
percentage points. We believe we have recognized all the costs of suspending
production of the FlowGuard in the second quarter. The next two quarters will be
influenced by the loss of the anticipated FlowGuard sales and minor research and
development expenditures related to qualifying a new resin.

Our research and development costs actually declined $59,000 during the quarter
when compared to one year ago, and as a percent of sales they dropped from 10.1
percent to 8.8




percent. This decline is not indicative of a much lower level of activities
taking place, but related in part to the amount of expenditures during the
period that were billable to customers who have committed to pay some or all of
the development costs related to their projects. Additionally, a portion of this
reduction in expenditures relates to the timing of certain project costs that
will now likely occur later in the year.

Our sales and marketing expenses increased 64 percent to $237,000 when compared
to the second quarter of 2002 and now approximate 5.5 percent of sales. This is
the result of hiring the full complement of sales/product managers we deemed
necessary to execute our business strategy of highly attentive customer service
plus cultivation of key physician relationships. We now have a five person sales
force consisting of a director, two product managers, a new product development
manager and a marketing coordinator.

General and administrative expenses increased 6 percent for the quarter compared
to a year ago, and as a percentage of sales equaled 10.5 percent, compared to
9.8 percent in the same quarter of 2002. The primary cost increases were
depreciation of our new software system, plus auditing, investor relations and
insurance costs associated with our compliance to the Sarbanes-Oxley Act.

As I stated earlier, in total we earned $474,000 after income taxes, or $.10 per
fully diluted share compared to $628,000 or $.13 per diluted share one year ago,
a decline of 25 percent. Had we not experienced the disappointing setback
related to FlowGuard, we would have at least equaled or exceeded last year's
income total. For the first six months of the year our net income of $1,106,000,
or $.22 per diluted share is 10 percent below last years total.



Our cash situation remains strong with nearly $6,500,000 in the bank. We have no
bank debt and over $16,000,000 of net worth. Our assets are over $18 million
compared to $1.75 million of liabilities.

Over the next six months we will be focused on the following:

         1.       To resolve the FlowGuard design issue and continue work on the
                  smaller sizes of the FlowGuard so that we will be able to
                  re-launch into the dialysis market as well as commence the
                  initial launch into the pacing and implantable port market.

         2.       To validate and ship the various needle configurations to
                  fulfill the safety needle orders for Cook, and continue work
                  on the next generation of safety devices.

         3.       To accelerate our efforts on advanced delivery system
                  projects. Since exhibiting our capabilities in this area at a
                  number of shows earlier this year, the response for requests
                  to do product development has been overwhelming. Today we are
                  working on eleven new products for specific customers related
                  to fixed curve and articulating delivery systems. While not
                  all of these projects may become commercial successes, the
                  broad base of activity would indicate to us a significant
                  level of potential future revenue. We are also developing for
                  regulatory approval our own line of articulating guide
                  catheters which should significantly reduce the time to market
                  for our customers.

Now let me provide some guidance for the two upcoming quarters.

         *        With the loss of the FlowGuard revenue until late in the
                  fourth quarter or early 2004, combined with the expected loss
                  of LVLDS revenue in the third quarter, we anticipate that
                  sales for the third quarter of 2003 will be approximately 10%
                  less than the sales during last year's third quarter. Last
                  year's third quarter equaled $4,542,000 aided by a one time
                  shipment of specialty introducers to Medtronic totaling
                  $380,000. We will commence




                  shipments of safety needles to Cook during the third quarter
                  as well as continue to include needles in Medtronic kits.

         *        As regards to our fourth quarter, obviously, if we can be back
                  in the market with FlowGuard earlier in the quarter, our
                  anticipated sales would be favorably impacted. And while these
                  comments have not reflected our pending acquisition of Biomec
                  Cardiovascular, it is likely those sales will be combined with
                  ours for some or all of the fourth quarter.

         *        We expect our gross margin percent to show improvement in the
                  third quarter when compared to quarter one since we have now
                  resolved the issues associated with the automated safety
                  needle assembly equipment and as compared to quarter two when
                  we wrote off the scrapped inventory related to FlowGuard. We
                  anticipate that our operating expenses will remain relatively
                  the same when compared to the second quarter.

Now I'd like to expand upon our announcement today regarding the acquisition of
the operating assets of Biomec Cardiovascular Inc. ("BCI"), a private company
located in the Twin Cities. We have been open about our interest in pursuing an
acquisition that would be complementary to our product offering, broaden our
customer base, add to our intellectual property portfolio and bring additional
management talent into our organization. It was also important to us that the
business philosophy of a potential acquisition be consistent with our strategy
of developing proprietary products and marketing those products to other medical
device companies. The acquisition of Biomec Cardiovascular Inc. meets all of
these criteria.

BCI's proprietary product line consists of specialty pacing leads used primarily
for cardiac resynchronization therapy in the treatment of congestive heart
failure, an implant tool for placing those leads, and finally, pacing lead
adaptors which allow one generation of pacing lead wires to be attached to
another generation of pulse generators. Those different generations are created
by the adoption of new international standards. It is expected that a new lead
connector standard




(currently called IS-4) will be adopted sometime in the next two years requiring
an entirely new set of adaptors. All of BCI's proprietary products are sold
primarily to the big three pacing companies. BCI has laser welding capabilities
and also does a significant amount of packaging for a variety of companies.

BCI's sales have doubled in the first half of 2003 to over $4.5 million compared
to 2002 and BCI's management believes they have an excellent opportunity to
continue that pace of growth well into 2004. BCI is profitable having earned
$495,000 on a pretax basis through the first half of 2003.

There are a number of synergies between our two companies. The joint marketing
of our combined product offering to pacing companies should allow us to bring
one stop shopping and attractive pricing to those customers. Our development
effort can focus on these specialty leads but now with a complementary delivery
system. There are of course a number of cost savings that we will realize by
conducting our business in the most efficient manner.

We will pay $18,000,000 at closing less the assumed liabilities. Payment will be
a combination of cash and stock. It is our current intention to secure a
$5,000,000 term loan that would allow us to pay the maximum amount of cash at
closing, approximately $11,000,000, and the minimum amount in stock which would
be equal to $7,000,000 or approximately 933,000 shares. We will also have a
contingent payment to make in early 2004 which is based on total annual 2003
sales achieved times two minus the $18,000,000 closing payment; and another
contingent payment in 2005 equal to the increase in proprietary sales in 2004
over 2003. This payment could double if BCI has contracts in place that evidence
long-term revenue potential. The transaction will require approval by both
companies' shareholders and we expect to close the transaction around September
30, 2003.




This is a transforming opportunity for our company. We will have revenues 50
percent higher than we have today. We will have more customers but much less
dependence on any one customer. Our product offering will be one of the
strongest in the pacing accessory field. We will again be participating in one
of the highest growth areas in cardiac rhythm management, the treatment of
congestive heart failure through resynchronization therapy. By virtue of being
50 percent larger, more profitable, having more shares in the public float, and
by applying for listing on the Nasdaq National Market System, a condition of the
transaction, Medamicus should be a far more attractive company for institutional
investors, and that should prove beneficial for all shareholders.

Thanks for listening today. Mark Kraus and I will be happy to entertain any
questions you may have.






                                                Medamicus, Inc. File no. 0-19467
                                                                    Exhibit 99.3



FOR IMMEDIATE RELEASE                                   CONTACT: JIM HARTMAN
                                                                 MEDAMICUS, INC.
                                                                 (763) 577-2212


JULY 22, 2003

    MEDAMICUS, INC. TO ACQUIRE OPERATING ASSETS OF BIOMEC CARDIOVASCULAR INC.


Medamicus, Inc. today announced that it has entered into a definitive agreement
to acquire the operating assets of BIOMEC Cardiovascular Inc. ("BCI"), a
Minneapolis based developer and manufacturer of implantable stimulation leads,
lead delivery systems and accessories for cardiac rhythm management and
neuromodulation. BCI is a subsidiary of BIOMEC Inc., a privately held medical
technology company headquartered in Cleveland, Ohio.

The definitive agreement provides for the acquisition by Medamicus of
substantially all of the assets of BCI through a newly formed, wholly owned
subsidiary of Medamicus. Medamicus has agreed to pay $18.0 million at closing,
plus or minus specified adjustments. In addition, under the agreement, Medamicus
has agreed to make a contingent payment based on total 2003 sales of BCI prior
to the acquisition and Medamicus's BCI unit after the acquisition and a second
contingent payment based upon sales of the Medamicus BCI unit's proprietary
products in 2004 in excess of 2003 proprietary sales.

Under the agreement, Medamicus is obligated to pay at closing not less than $7.0
million in cash and not less than $7.0 million through issuance of newly issued
Medamicus, Inc. common stock valued at $7.50 per share. The remaining $4.0
million, subject to the adjustments, is payable by Medamicus at its option
either in cash or by an additional issuance of Medamicus common stock valued at
$7.50 per share or a combination of cash and stock. If Medamicus paid the
minimum amount of the closing price in stock, it would issue 933,333 shares, and
if Medamicus paid the estimated maximum amount of the closing price in stock, it
would issue 1,466,667 shares. As of July 18, 2003, Medamicus had 4,739,293
shares of common stock outstanding.

Each of the 2003 and the 2004 Contingent Payment is to be made in a combination
of cash and of stock valued at the then-current market price.

Jim Hartman, President and CEO of Medamicus, said, "I am pleased to announce
this business combination with BCI. We expect this transaction to significantly
expand our product line into complementary high growth markets, broaden our
intellectual property portfolio, diversify our OEM customer base and add to our
team of skilled and experienced managers and employees. BCI's business model of
OEM sales coupled with proprietary product development is similar to that of
Medamicus. The combination with BCI will materially enhance our ability to
continue to provide world-class, value-added design and manufacturing services
to OEM customers such as Bard, Cook, Guidant, Medtronic and St. Jude Medical.
BCI's sales more than doubled to $4.5 million in the first half of 2003 compared
to the same period in 2002 and we expect that its sales for all of 2003 will be
in excess of $9 million."

Trevor O. Jones, BIOMEC's Chairman and CEO, who will be elected to the Medamicus
board and become its new Vice Chairman, stated that "BIOMEC's board
enthusiastically endorses this opportunity and considers it a sound investment
in a dynamic company with outstanding growth potential. The combination is an
excellent synergistic fit of the two companies to the benefit of all
shareholders." Mr. Jones added "this combination does not impact BIOMEC's
Cleveland operations, which will continue in their current form."

Vince Owens, President and CEO of BCI, said "Biomec Cardiovascular's sales have
grown significantly over the last nine months due to our focused strategy on
proprietary permanent implantable leads and delivery systems targeted for the
cardiac rhythm




management and neuromodulation markets. This business combination will allow us
to accelerate the development of new specialized implantable leads with delivery
systems that enable less invasive and more efficient placement in and on the
heart, brain and spinal cord."

The board of directors of Medamicus, Inc. as well as the boards of directors of
BCI and BIOMEC Inc., have approved the acquisition and unanimously recommended
approval by its respective shareholders. Besides requiring approval by the
shareholders of Medamicus and BIOMEC Inc., the transaction is subject to SEC
review, the absence of material adverse events and other customary closing
conditions. The transaction is expected to close on or about September 30, 2003.
Franklin Capital Partners, Inc. initiated this transaction on behalf of
Medamicus and served as exclusive acquisition adviser to Medamicus. Goldsmith,
Agio, Helms & Lynner, LLC reviewed the transaction for fairness from a financial
point of view to the Medamicus shareholders and provided an opinion to that
effect to the Medamicus board of directors. The issuance of the Medamicus common
stock requires the approval of the Medamicus shareholders under applicable
Nasdaq listing standards. As a condition of the agreement, Medamicus will apply
for listing of its common stock on the Nasdaq National Market System.

Medamicus, Inc., based in Plymouth, Minnesota, is a medical products company
engaged in the design, development, manufacture and marketing of percutaneous
delivery systems. Its products include venous vessel introducers, safety needles
and other disposable delivery products for use in the implantation of
pacemakers, defibrillators, catheters and infusion ports sold through OEM
relationships with other medical device companies.

Headquartered in Minneapolis, Minnesota, BIOMEC Cardiovascular Inc. is a
developer and manufacturer of implantable stimulation leads, lead delivery
systems, and lead accessories for cardiac rhythm management, neuromodulation,
and hearing -restoration markets. Headquartered in Cleveland, Ohio, BIOMEC Inc.
is a leading researcher, developer and manufacturer of advanced medical
technologies.

This news release contains forward-looking statements as defined by the Private
Securities Litigation Reform Act of 1995. Certain important factors could cause
results to differ materially from those anticipated by some statements made
herein. All forward-looking statements involve risks and uncertainties. A number
of factors that could cause results to differ materially are discussed in our
Annual Report on Form 10-KSB for the year ended December 31, 2002. Among the
factors that could cause results to differ materially are the following: the
ability of Medamicus to obtain approval of the transaction by Medamicus and
BIOMEC shareholders; the ability of Medamicus to successfully integrate the
acquired business; Medamicus's dependence upon a limited number of key customers
for its revenue; Medamicus's dependence upon licensing agreements with third
parties for the technology underlying some of its products, especially the
safety needle; the ability of Medamicus to negotiate and enter into safety
needle supply agreements with major medical device companies, and the ability of
Medamicus and these customers to achieve market acceptance of the safety needle;
Medamicus's ability to effectively manufacture its safety needle using its
automated safety needle assembly equipment in anticipated required quantities;
Medamicus's ability to successfully manufacture and introduce its FlowGuard
valved peelable introducer; Medamicus's ability to develop or acquire new
products to increase its revenues; Medamicus's ability to attract and retain key
personnel; introduction of competitive products; patent and government
regulatory matters; economic conditions; and Medamicus's ability to raise
capital. All forward-looking statements of Medamicus, whether written or oral,
and whether made by or on behalf of Medamicus, are expressly qualified by these
cautionary statements. In addition, Medamicus disclaims any obligation to update
forward-looking statements to reflect events or circumstances after the date
hereof.

Medamicus intends to file a registration statement on Form S-4 in connection
with the transaction, and Medamicus and BIOMEC Inc. intend to mail a joint proxy
statement/prospectus to their respective shareholders in connection with the
transaction. Investors and security-holders of Medamicus and BIOMEC are urged to
read the joint proxy statement/prospectus when it becomes available because it
will contain important information about the companies, the transaction, the
persons soliciting proxies relating to the transaction, their interests in the
transaction, and related matters. When available, investors and security-holders
may obtain a free copy of the joint proxy statement/prospectus at the SEC's web
site at www.sec.gov. A free copy of the joint proxy statement/prospectus may
also be obtained from either of the companies.










                                                Medamicus, Inc. File no. 0-19467
                                                                    Exhibit 99.4



[BIOMEC LOGO]                   NEWS RELEASE

July 22, 2003 [DRAFT -- NOT FOR DISTRIBUTION]

[Contact: Trevor O. Jones, 216-937-2800, ext. 222, BIOMEC Inc., Cleveland, OH or
Vincent P. Owens, 952-653-2410, BCI Minneapolis, MN]



     BIOMEC AGREES TO COMBINE ITS MINNEAPOLIS OPERATION WITH MEDAMICUS, INC.


Cleveland, Ohio (July 22, 2003) - Trevor O. Jones, Chairman and CEO, announced
today the combination of BIOMEC's Minneapolis operation, Biomec Cardiovascular
Inc. (BCI), with Medamicus, Inc.

BCI develops and manufactures implantable stimulation leads, lead delivery
systems, and lead accessories for cardiac rhythm management, neuromodulation,
and hearing-restoration markets.

Medamicus, Inc., a publicly traded company (Nasdaq - MEDM) based in Plymouth,
Minnesota, is a biomedical products company engaged in the design, development,
manufacture and marketing of percutaneous delivery systems. Its products include
venous vessel introducers, safety needles and other disposable delivery products
for use in the implantation of pacemakers, defibrillators, catheters and
infusion ports sold through OEM relationships with other medical device
companies.




The definitive agreement provides for the acquisition by Medamicus of
substantially all of the assets of BCI through a newly formed, wholly owned
subsidiary of Medamicus. Medamicus has agreed to pay $18.0 million at closing,
plus or minus specified adjustments. Medamicus has agreed to make a contingent
payment based on total 2003 sales of BCI prior to the acquisition and
Medamicus's BCI unit after the acquisition and a second contingent payment based
upon sales of the Medamicus BCI unit's proprietary products in 2004 in excess of
2003 proprietary sales.

Under the agreement, Medamicus is obligated to pay at closing not less than $7.0
million in cash and not less than $7.0 million through issuance of newly issued
Medamicus, Inc. common stock valued at $7.50 per share. The remaining $4.0
million, subject to the adjustments, will be paid either in cash or by common
stock valued at $7.50 per share or a combination of cash and stock, at
Medamicus's option.

If Medamicus paid the minimum amount ($7.0 million) of the closing price in
stock, it would issue 933,333 to shares to BIOMEC, and if Medamicus paid the
estimated maximum amount ($11.0 million) of the closing price in stock, it would
issue 1,466,667 shares to BIOMEC. As of July 18, 2003, Medamicus had 4,739,293
shares of common stock outstanding. If Medamicus elects to pay the maximum
amount in stock, BIOMEC would own at closing approximately 24% of Medamicus, and
the minimum amount would result in a BIOMEC ownership at closing of
approximately 16%. In either case, BIOMEC will become Medamicus's largest single
shareholder, and Trevor O. Jones will be elected to its board and be its new
Vice Chairman.


Trevor Jones stated that "BIOMEC's board enthusiastically endorses this
opportunity and considers it a sound investment in a dynamic company with
outstanding growth potential. The combination is an excellent synergistic fit of
the two companies to the benefit of all shareholders." Mr. Jones added "this
combination does not impact BIOMEC's Cleveland operations, which will continue
in their current form."

Vince Owens, President and CEO of BCI, said "Biomec Cardiovascular's sales have
grown significantly over the last nine months due to our focused strategy on
proprietary permanent implantable leads and delivery systems targeted for the
cardiac rhythm management and neuromodulation markets. This business combination
will allow us to accelerate the development of new specialized implantable leads
with delivery systems that enable less invasive and more efficient placement in
and on the heart, brain and spinal cord."

Jim Hartman, President and CEO of Medamicus, said "I am pleased to announce this
business combination with BCI. We expect this transaction to significantly
expand our product line into complementary high growth markets, broaden our
intellectual property portfolio, diversify our OEM customer base and add to our
team of skilled and experienced managers and employees. BCI's business model of
OEM sales coupled with proprietary product development is similar to that of
Medamicus. The combination with BCI will materially enhance our ability to
continue to provide world-class, value-added design and manufacturing services
to OEM customers such as Bard, Cook, Guidant,




Medtronic and St. Jude Medical. BCI's sales more than doubled to $4.5 million in
the first half of 2003 compared to the same period in 2002 and we expect that
its sales for all of 2003 will be in excess of $9 million."

BIOMEC Inc. is a biomedical device company established in 1998 with the specific
objective of accelerating promising technology from major medical and academic
institutions, national laboratories, and from internal proprietary developments
to successful commercial products. BIOMEC operates facilities in Cleveland and
in Minneapolis. BIOMEC has more than 25 customers, which include both major
medical device OEMs and start-up companies, primarily in the fields of cardiac
rhythm management and neuromodulation. Additionally, BIOMEC has product
development and investment coalitions with NeuroControl Corp. in Cleveland, and
the newly formed Cleveland company, Imalux Inc.

For further information, please contact Trevor O. Jones at 216-937-2800, ext.
222 (Fax: 216-937-2813 or e-mail to jones@biomec.com), 1771 East 30th Street,
Cleveland, OH 44114 or Vincent P. Owens at 952-653-2410 (Fax: 952-943-1087 or
e-mail to vowens@biomec.com), 9452 West 78th Street, Minneapolis, MN 55439.

This news release contains forward-looking statements as defined by the Private
Securities Litigation Reform Act of 1995. Certain important factors could cause
results to differ materially from those anticipated by some statements made
herein. All forward-looking statements involve risks and uncertainties. A number
of factors that could cause results to differ materially are discussed in
Medamicus's Annual Report on Form 10-KSB for the year ended December 31, 2002.
Among the factors that could cause results to differ materially are the
following: the ability of Medamicus to obtain approval of the transaction by
Medamicus and BIOMEC shareholders; the ability of Medamicus to successfully
integrate the acquired business; Medamicus's dependence upon a limited number of
key customers




for its revenue; Medamicus's dependence upon licensing agreements with third
parties for the technology underlying some of its products, especially the
safety needle; the ability of Medamicus to negotiate and enter into safety
needle supply agreements with major medical device companies, and the ability of
Medamicus and these customers to achieve market acceptance of the safety needle;
Medamicus's ability to effectively manufacture its safety needle using its
automated safety needle assembly equipment in anticipated required quantities;
Medamicus's ability to successfully manufacture and introduce its FlowGuard
valved peelable introducer; Medamicus's ability to develop or acquire new
products to increase its revenues; Medamicus's ability to attract and retain key
personnel; introduction of competitive products; patent and government
regulatory matters; economic conditions; and Medamicus's ability to raise
capital. All forward-looking statements of Medamicus, whether written or oral,
and whether made by or on behalf of Medamicus, are expressly qualified by these
cautionary statements. In addition, Medamicus disclaims any obligation to update
forward-looking statements to reflect events or circumstances after the date
hereof.

Medamicus intends to file a registration statement on Form S-4 in connection
with the transaction, and Medamicus and BIOMEC Inc. intend to mail a joint proxy
statement/prospectus to their respective shareholders in connection with the
transaction. Investors and security-holders of Medamicus and BIOMEC are urged to
read the joint proxy statement/prospectus when it becomes available because it
will contain important information about the companies, the transaction, the
persons soliciting proxies relating to the transaction, their interests in the
transaction, and related matters. When available, investors and security-holders
may obtain a free copy of the joint proxy statement/prospectus at the SEC's web
site at www.sec.gov. A free copy of the joint proxy statement/prospectus may
also be obtained from either of the companies.