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North American Scientific Effects Reverse Stock Split of Its Common Stock

Posted on: Thursday, 1 May 2008, 03:00 CDT

North American Scientific, Inc. (NASDAQ:NASM) today announced that, pursuant to Shareholder approval at its Annual Meeting on April 29, 2008, the Company filed an amendment to its Amended Certificate of Incorporation that implements a 1 share for 5 share reverse stock split of the Company's outstanding common stock. The reverse stock split will become effective for shareholders of record at 12:00 am on May 1, 2008. As a result of the reverse stock split, each five shares of common stock will be combined and reclassified into one share of common stock and the total number of shares outstanding will be reduced to approximately 18.5 million shares from approximately 92.4 million shares. The common stock will trade under its new symbol "NASM" as announced by the Company on April 30, 2008.

About North American Scientific

North American Scientific, operating under the name NAS Medical, is a leader in applying radiation therapy in the fight against cancer. Its innovative products provide physicians with tools for the treatment of various types of cancers. They include Prospera® brachytherapy seeds and SurTRAK™ needles and strands used primarily in the treatment of prostate cancer. In addition, the Company has been gaining clinical experience with its first generation ClearPath™ multi-channel catheter breast brachytherapy devices since 2007, and intends to launch the second generation devices in 2008. They are the only such devices approved for both high dose and continuous release, or low dose, radiation treatments. The devices are designed to provide flexible, precise dose conformance and an innovative delivery system that is intended to improve the delivery of brachytherapy for the treatment of breast cancer. Please visit www.nasmedical.com for more information.

Statements included in this release that are not historical facts may be considered forward-looking statements that are subject to a variety of risks and uncertainties. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company including, but not limited to, the impact of competitive products and pricing, technological changes, changes in relationships with strategic partners and dependence upon strategic partners for the performance of critical activities under collaborative agreements, the ability of the Company to successfully directly market and sell its products, uncertainties relating to patent protection and regulatory approval, the stable supply of appropriate isotopes, research and development estimates, market opportunities, risks associated with strategic opportunities or acquisitions the Company may pursue and the risk factors included in the Company's filings with the Securities and Exchange Commission. Any forward-looking statements contained in this news release speak only as of the date of this release, and the Company undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future results or otherwise.

Source: Business Wire

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