MicroIslet Approved for AMEX Listing SAN DIEGO, May 27 /PRNewswire-FirstCall/ -- MicroIslet Inc. (OTC:MIIS) (BULLETIN BOARD: MIIS) today announced that its common stock has been approved for listing on the American Stock Exchange (Amex) and is expected to commence trading under the symbol "MII" effective with the opening of the market on Tuesday, June 1, 2004. The listing is contingent upon the Company being in compliance with all applicable listing standards on the date it begins trading on Amex. "We are very proud to have been approved for listing on the Amex; we see it as a significant milestone reflecting our scientific progress and the substantial strengthening of our balance sheet," said Haro Hartounian, Ph. D. President and Chief Operating Officer of MicroIslet. "We expect our listing to increase investor awareness and improve liquidity in our stock, and we believe the American Stock Exchange is a good choice for MicroIslet and its shareholders." About MicroIslet MicroIslet is a biotechnology company engaged in the research, development, and commercialization of patented technologies in the field of transplantation therapy for people with insulin-dependent diabetes. MicroIslet's patented islet transplantation technology, exclusively licensed from Duke University, includes methods for isolating, culturing, cryopreservation, and immuno-protection (microencapsulation) of islet cells. MicroIslet is working to develop and commercialize a first product, called MicroIslet-P(TM), a microencapsulated porcine islet cell suspension that will be used for transplantation in patients with insulin-dependent diabetes. Except for the historical information contained herein, the matters set forth in this press release, including the expectation of development of new therapeutic products, and the impact of MicroIslet's products on diabetes patients, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the historical volatility and low trading volume of our stock, the risks and uncertainties inherent in medical treatment discovery, development and commercialization, the risks and uncertainties associated with MicroIslet's early stage xenotransplantation technologies, the risks and uncertainties of governmental approvals and regulation, MicroIslet's need to raise substantial additional capital to proceed through human clinical trials and bring any product to market, the risks that MicroIslet's competitors will develop or market technologies or products that are more effective or commercially attractive than MicroIslet's products, and other risks detailed from time to time in MicroIslet's most recent filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. MicroIslet disclaims any intent or obligation to update these forward-looking statements. For more information, please visit our Web site at http://www.microislet.com/. For further information, please contact: William Kachioff, Vice President, Finance and Chief Financial Officer, MicroIslet, Inc., +1 858-657-0287, . DATASOURCE: MicroIslet Inc. CONTACT: William Kachioff, Vice President, Finance and Chief Financial Officer of MicroIslet, Inc., +1-858-657-0287, Web site: http://www.microislet.com/

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