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Spectral announces third quarter 2008 results
Date:11/12/2008

the meaning of securities laws. Implicit in this information, particularly in respect of the future outlook of Spectral and anticipated events or results, are assumptions based on beliefs of Spectral's senior management as well as information currently available to it. While these assumptions were considered reasonable by Spectral at the time of preparation, they may prove to be incorrect. Readers are cautioned that actual results are subject to a number of risks and uncertainties, including the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of Spectral to take advantage of business opportunities in the biomedical industry, the granting of necessary approvals by regulatory authorities as well as general economic, market and business conditions, and could differ materially from what is currently expected.

The TSX has not reviewed and does not accept responsibility for the

adequacy or accuracy of this statement.

Spectral Diagnostics Inc.

Balance Sheets - unaudited

As at September 30, 2008 and December 31, 2007

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(in thousands of dollars)

2008 2007

$ $

Assets

Current assets

Cash and cash equivalents 173 638

Short-term investments 4,031 4,289

Accounts receivable 716 677

Inventories 193 249

Prepaid expenses 72 55

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5,185
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SOURCE Spectral Diagnostics Inc.
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