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Modern Medical Modalities Corporation Signs Definitive Agreement to Acquire Medical Software to Enhance Its Enterprise-Wide Management Services System

Posted on: Monday, 5 March 2007, 09:01 CST

Modern Medical Modalities Corporation (OTCBB:MODM) a comprehensive healthcare management and diagnostic imaging services company (MDIS) today announced it has entered into a Definitive Agreement with MTI-II Partners, L.P. ("MTI-II") to acquire its Medical Software Assets in exchange for 1 million shares of MODM's common stock based on the closing market price of $0.73 per share as of February 14, 2007. The transaction is expected to close in March of 2007, subject to regulatory approvals and other specified closing conditions.

MODM believes that the acquisition of MTI-II's Medical Software will help it to further enhance its enterprise-wide Management Services System that covers administrative, clinical, financial, and decision support processes. Some of the key benefits of this acquisition are expected to include: the ability for MODM to provide better outsourced management services to compliment its ownership of clinics; control of MODM's future by making changes as needed and avoiding obsolescence common in the industry; realize significant potential savings by using one flexible Medical Software within an integrated Management Services System versus purchasing multiple systems; and the strengthening of the balance sheet since the acquired software property can be recognized as an asset.

About Modern Medical Modalities Corporation (www.mmmcorp.net):

Modern Medical Modalities Corporation is a comprehensive healthcare management and diagnostic imaging services company. The Company provides management services that include procuring equipment, billing and reimbursement services, managed care contracts, referrals, human resources, inventory management, purchasing, medical record administration / transcriptions and reading services. The Company also provides its network of participants the most advanced medical management information system over the Internet, and provides patients with access to state of the art imaging technologies, such as magnetic resonance imaging, computed axial tomography, positron emission tomography, nuclear medicine, ultrasound, densitometry, digital mammography, general x-ray radiography, and biopsies.

Note on Forward-Looking Statements:

Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on current expectations and are subject to a number of known and unknown risks, uncertainties and other factors beyond our control that could cause actual events and results to differ materially from these statements. These statements are not guarantees of future performance, and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Modern Medical Modalities Corporation undertakes no obligation to update publicly any forward-looking statements.

Source: Business Wire

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