FOR RELEASE OCTOBER 30, 1997 AT 7:30 AM EST
Contact:       Allen & Caron Inc              or          Frank A. DeBernardis
               Kent Broussard (investors)                 President & CEO
               Owen Daley (media)                                EchoCath, Inc.
               714-252-8440                                      609-987-8400

ALLIANCE TO EXPAND MINIMALLY
INVASIVE CARDIAC SURGERY ARENA

      ECHOCATH SIGNS SECOND LICENSE & DEVELOPMENT AGREEMENT WITH MEDTRONIC;
                           OPTION ON FUTURE LICENSES

PRINCETON, NJ ( October 30, 1997)....EchoCath, Inc. (Nasdaq:ECHAC) announced
today that it has signed its second license and development agreement with
Minneapolis-based Medtronic, Inc. (NYSE:MDT). Under the terms of this agreement,
Medtronic will license, on an exclusive basis, EchoCath's EchoMark 'r' and
ColorMark 'r' technologies for use in guiding devices during cardiac surgery. In
addition, Medtronic receives a six-month option to evaluate the uses of
EchoCath's EchoFlow 'tm' and EchoEye 'r' technologies for cardiovascular surgery
for possible future licensing. In addition, Medtronic has purchased 363,636
restricted shares of EchoCath Class A Common Stock at $2.75 per share. EchoCath
President Frank DeBernardis said that EchoCath has received a combined total of
$1.8 million from the purchase of the EchoCath Class A Common Stock and upfront
licensing fees, and that the license and development agreement provides for
future payments, including minimum annual royalties, upon product
commercialization. No further terms were disclosed.

M. Jacqueline Eastwood, Vice President and General Manager of Medtronic
Minimally Invasive Surgery, said that the EchoCath technologies would be used
with the Grinfeld cannula, an innovative surgical device that acts as an
internal aortic clamp as it delivers cardioplegia, vents the heart and connects
it to an extracorporeal blood circuit.

The first strategic alliance between EchoCath and Medtronic was formed in
December 1996 to develop an ultrasound-guided heart pacemaker lead implantation
system. This system is designed to augment and, in appropriate cases, replace
the traditional fluoroscopy to guide placement of pacemaker leads.

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ECHOCATH SIGNS LICENSE AGREEMENT
Page 2-2-2


EchoMark and ColorMark aid in the guidance of devices, such as cannulas, using
existing ultrasound equipment, and eliminate the need to use X-ray to confirm
the position of these devices. These technologies are used with existing
ultrasound equipment and shorten the amount of time required to properly insert
and place devices in and near the heart, with greater accuracy and safety.
EchoFlow is being developed to measure blood flow volume through the circulatory
system, while EchoEye will provide a "forward-looking view" of the inside of
vessels.

DeBernardis commented, "This license and development agreement confirms our
belief that our technologies have significant market potential. Medtronic, one
of the world's leading developers and manufacturers of devices that address
unmet medical needs, is forging a leadership position in innovative cardiac
surgery, which makes them the ideal choice for licensing the EchoMark and
ColorMark technologies for these applications."

Eastwood said, "The EchoMark and ColorMark technologies broaden the applications
of minimally invasive cardiac surgery by making it safer, easier and less
expensive for operating room personnel to guide, place and position devices
used. We also see promising similar applications for EchoFlow and EchoEye.
During the next few months, we will evaluate these products and consider further
licensing agreements."

Medtronic, Inc., headquartered in Minneapolis, is the world's leading medical
technology company specializing in implantable and interventional therapies. Its
Internet address is www.medtronic.com.

EchoCath develops, manufactures and markets medical devices that enhance and
expand the use of ultrasound technology for medical applications and procedures.

Certain statements in this Press Release constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
the Company, or industry results, to be materially different from any future
results, performance, or achievements expressed or implied by such
forward-looking statements. Such factors include, among others, the following:
delays in product development; failure to receive or delays in receiving
regulatory approval; lack of enforceability of patents and proprietary rights;
competition; material costs and availability; changes in business strategy or
development plans; quality of management; availability, terms and deployment of
capital; business abilities and judgment of personnel; availability of qualified
personnel; changes in, or the failure to comply with, government regulations.

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