ENDOCARE REACHES PRELIMINARY SETTLEMENT WITH SEC

Endocare, a medical device company focused on the development of minimally invasive technologies for tissue and tumor ablation along with vacuum technologies for erectile dysfunction, announced that it has reached agreement with the regional staff of the Securities and Exchange Commission (SEC) regarding the terms of a settlement that the regional staff has agreed to recommend to the SEC. The proposed agreement, under which the company will not admit or deny any wrongdoing, will, if approved by the commission and the court, fully resolve all claims against the company relating to the formal investigation that the SEC commenced in January 2003.

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