WILMINGTON, Mass., May 18, 2004 /PRNewswire-FirstCall via COMTEX/ -- CardioTech International, Inc. (Amex: CTE) today announced that it has granted Bard Access Systems, Inc. ("BAS") the exclusive, worldwide rights to manufacture, market and sell Central Venous Catheters ("CVC") incorporating CardioTech's patented ChronoFlex biodurable polyurethane for a period of five (5) years. Central Venous Catheters are any centrally or peripherally placed catheters whose primary function is one other than dialysis. Under the agreement, BAS agrees to purchase ChronoFlex polyurethane for use in CVCs and pay CardioTech a minimum annual royalty. Further details of the agreement were not disclosed. Michael Szycher, Ph.D., CEO of CardioTech commented: "We are happy to award ChronoFlex exclusivity to BAS for CVCs and are extremely pleased that Chronoflex has been selected by BAS for use in the manufacture of these catheters." Dr. Szycher continued: "This is the second exclusive ChronoFlex agreement with BAS. The first agreement, originally dated November 1992, and subsequently amended in January 1999, granted BAS ChronoFlex exclusivity for use in vascular ports. We are honored to extend our strategic association with BAS to an additional line, and look forward to a mutually rewarding future." About CardioTech CardioTech International, Inc. maintains operations in Wilmington, Massachusetts, Plymouth, Minnesota and Rancho Santa Margarita, California. CardioTech develops, produces and markets differentiated medical devices. Revenue sources include devices used in cardiopulmonary bypass (heart-lung), and OEM products manufactured for certain Fortune 100 companies. CardioTech believes it is the only company in the world developing a synthetic coronary artery bypass graft that addresses a potential market of $1.5 billion annually. Additionally, CardioTech has partnered with Implant Sciences and CorNova to develop a drug-eluting stent that addresses a potential market of $1 billion annually. CardioTech believes that this release contains forward-looking statements that are subject to risks and uncertainties. Such statements are based on management's current expectations and are subject to facts that could cause results to differ materially from the forward-looking statements. For further information you are encouraged to review CardioTech's filings with the Securities and Exchange Commission.