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AMDL, Inc. Closes Private Placement of Convertible Notes
Date:9/16/2008

TUSTIN, Calif., Sept. 16 /PRNewswire-FirstCall/ -- (http://www.amdl.com) AMDL, Inc. (Amex: ADL), a vertically integrated pharmaceutical company with major operations in China and the US, announced today the successful closing and terms of a $2,510,000 private placement offering of 10% convertible notes. The placement agents for the offering were Jesup & Lamont Securities Corporation and Dawson James Securities, Inc.

Mr. Gary Dreher, President and CEO of AMDL, Inc., said, "This financing strengthens our cash position and allows us to accelerate key business initiatives. We appreciate the financial support from our investors and their vote of confidence in AMDL's China and US-led operations."

AMDL sold $2,510,000 of 10% convertible notes at par value. The notes mature at the earlier of 12 months from the completion of a registered follow-on public offering or 24 months after issuance. The notes will be repaid either at maturity in cash equal to 150% of the principal amount of the notes plus an amount equivalent to 10% per annum interest, or upon forced mandatory conversion into shares of the Company's common stock in the event of a public offering of at least $25 million in gross proceeds to AMDL. At any time after February 15, 2009, the holders of the notes have the right to convert the entire principal and interest due thereon into common stock of the Company. The conversion price will be at a discount of fifty percent (50%) to the: (i) price of the Company's common stock on the closing of the public offering; or (ii) common stock on February 15, 2009; provided, however, in no event shall the conversion price be less than $1.20 per share. In the event of a voluntary conversion,
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SOURCE AMDL, Inc.
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