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Press Releases

SQI Diagnostics Inc. Announces Private Placement of up to C$4,000,000

Released: May 26, 2008

Toronto, Ontario, May 26, 2008 - SQI Diagnostics Inc. (the "Company") (TSX-Venture: SQD), a medical systems automation company focused on evolving laboratory-based biomarker testing, is pleased to announce that it has entered into an Engagement Letter with Kingsdale Capital Markets Inc. ("Kingsdale") by which Kingsdale will act as agent for the placement,on a reasonable best efforts basis, of up to 2,666,667 common shares at a price of $1.50 per common share (the "Financing") in the capital of the Company for gross proceeds of up to $4 million.

Proceeds from the Financing will be used by the Company to fund research and development, for working capital and general corporate purposes. The closing of the Financing is subject to all necessary regulatory and exchange approvals.

About SQI Diagnostics
SQI Diagnostics is a medical systems automation company focused on evolving laboratory-based biomarker testing. Using automation and proprietary miniaturization technologies, SQI Diagnostics significantly improves the economies of scale for laboratories performing multi-analyte biomarker testing, allowing them to deliver patient results faster, using less labor, and fewer resources. SQI Diagnostics' initial products target the autoimmune disease market, with initial products for rheumatoid arthritis and antiphospholipid syndrome scheduled for launch in 2008. SQI Diagnostics is based in Toronto, Canada. For further information please visit www.sqidiagnostics.com.

For further information please contact:

Certain information in this press release is based on beliefs and assumptions of the Company's senior management and information currently available to it that may constitute forward-looking information within the meaning of securities laws. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements.

This release was prepared by management of the Company who takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.