October 30 , 2006
PRESS RELEASE 

PEGASUS/HEARTVIEW TO MARKET ITS HEARTVUE 6S SCREENING DEVICE IN EUROPE

Palm Beach Gardens , FL , Market Wire, October 30 th , 2006. Pegasus/HeartView, LLC (Symbol: PGUZ-OTC) today announced that they are anticipating an EU CE Mark approval during November, 2006 for their advanced screening technology, the HeartVue 6S System.  

The CE (This stands for “Conformite Europeene.”) Mark approval will authorize the Company to proceed with its marketing plans throughout the European Union. This approval signifies the quality and branding mark for products made or sold within the European Union. The CE Mark approval indicates to governments that the product can be legally sold within the European Union and the European Free Trade Association. It also indicates to customers that the product meets designated minimum safety standards. A distributor network will be set up involving many of the interested industry groups that viewed the system performing heart screening tests at the recent World Congress of Cardiology, September 2 nd to 6 th in Barcelona , Spain . Negotiations with potential distributors are ongoing from contacts made at this show and the American College of Cardiology's ACC 55 th Scientific Session held in Atlanta , Georgia last March.  

Pegasus/HeartView, LLC will be represented by Medical Computer Systems, one of the Company's OEM manufacturers at the upcoming Medica 2006 Show, the 38 th International Trade Fair with the Congress World Forum For Medicine in Dusseldorf, Germany from November 15 th – 18 th , 2006. This benchmark event is the world's largest medical fair and is held in tandem with ComPaMed 2006 from November 15 th – 17 th , which is the 15 th International Trade Fair for components, parts and raw materials for medical manufacturing at the Dusseldorf Trade Fair Center, Dusseldorf, Germany. The show will feature over 300 exhibitors, with a focus on cardiology, gastroenterology, oncology and imaging processes.

The HeartVue 6S System is an advanced, quick and accurate screening technology for early, non-invasive screening of heart disease. The technology uses only 4 limb wires (6 standard ECG leads) from the patient's wrists and ankles.  

The device includes proprietary software that converts the electric conductivity of the cardiac tissue into a three dimensional color-coded visual picture, which is simple for physicians to interpret. The ECV device allows testers to observe the condition of the heart muscle, as well as the intensity of the heart stress load. It immediately provides a 3D visual of the patient's heart and an electrocardiogram, all in less than one minute.

For more information, please contact Paul Davey, Investor Services at (778) 389-0915
( Canada ). Email: paul@pegasusbiosciences.com, or Daniel P. Kesonen, Chairman & CEO of Pegasus Pharmaceuticals Inc., Palm Beach Florida at (561) 626-9901. Further

For investor information, contact Paul Davey at (778) 389-0915.

Safe Harbor :
This news release may include forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United states Securities and Exchange Act of 1934, as amended with respect to achieving corporate objectives, developing additional project interests, the Company's analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements herein.