November 3rd, 2008
PRESS RELEASE: For Immediate Release

PEGASUS COMPLETES RESEARCH & DEVELOPMENT OF NEW, NON- INVASIVE HEARTVUE MONITORING SYSTEM FOR EMERGENCY ROOM ENVIRONMENTS.

Palm Beach Gardens, FL, (MarketWire November 3rd, 2008).  Pegasus/HeartVue
LLC, (Symbol:  PGUZ-Pink OTC Markets) today announced that they have now successfully completed the research and development for a new, non-invasive application of its patented HeartVue™  6S System created specifically for Emergency Room environments.

The Pegasus Pharmaceuticals’ Research and Development Group has developed a new version of its HeartVue 6S System which is designed specifically for the continuous monitoring of heart conditions in Emergency Room environments during surgical procedures or other critical conditions that require continuous, stringent heart monitoring.  This device, termed the HeartVue 6S ERM (Emergency Room Monitoring) System is based on the patented analysis of the heart’s electrical alternans of the PQRST complexes.  This enhanced version with modified software of the Company’s original monitoring device, will provide an automated, topological 3D image of the heart’s electrical activity every 30 seconds.  It also provides real time control of the heart responses to treatments, surgical or diagnostic procedures and the administration of medications.  The newest version of the HeartVue 6S System monitoring device will provide the medical field with an invaluable tool to monitor patients’ hearts in Emergency Room environments.  The HeartVue 6S ERM System will subsequently undergo a series of clinical tests in the coming months.

The HeartVue 6S System provides a quick (1-2 minutes) and accurate assessment of patients with suspected coronary disease.  The original device uses only 4 standard electrodes and a dispersion mapping method analysis of low amplitude ECG signals to detect heart abnormalities and ischemia.  The results are then presented as a color-coded, 3-dimensional digital heart map which reflects electrical dispersions.  The device allows the tester to observe the condition of the heart muscle, as well as the intensity of the heart stress load.  Images of the patient’s heart, along with an electrocardiogram are produced.

For more information:  www.pegasusbiosciences.com .  Or, contact Paul Davey, Investor Services:  778-389-0915, Email: paul@pegasusbiosciences.com .  Or call Daniel Kesonen, Chairman & CEO of Pegasus Pharmaceuticals:  561-626-9901.

Pegasus Pharmaceuticals adheres to the statutes and provisions of the Safe Harbor Act.