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Speedus Engages Morgan Joseph to Evaluate Strategic Alternatives for Zargis Subsidiary
Date:2/3/2010

FREEHOLD, N.J., Feb. 3 /PRNewswire-FirstCall/ -- Speedus Corp. (Nasdaq: SPDE), announced today that it has engaged Morgan Joseph & Co. Inc., a full service investment bank, to evaluate strategic alternatives available to maximize shareholder value with respect to Speedus Corp's subsidiary, Zargis Medical Corp.  Zargis has created the world's first FDA-cleared medical software to identify and classify suspected systolic and diastolic heart murmurs and is the co-recipient of Popular Science magazine's 2009 "Innovation of the Year" award.

"We are very pleased to have Morgan Joseph serve as our financial advisor as we explore options to optimize the value of Zargis for Speedus shareholders.  Morgan Joseph is a leading middle market investment bank with expertise in the medical device and healthcare technology sectors," stated Shant Hovnanian, Chairman & CEO of Speedus.

According to Mitchell Stern, a Managing Director in Morgan Joseph's Healthcare Investment Banking Group, "Medical technology companies continue to attract interest, particularly when their technologies provide an opportunity to improve care while lowering systemic costs and offer applications for the home health and telemedicine markets.  Zargis is well-positioned for growth within all of these arenas. There's no question that it's a good time to explore opportunities for Zargis."

About Morgan Joseph & Co. Inc.

Morgan Joseph & Co. Inc. is a full service investment banking firm with over 120 employee
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SOURCE Speedus Corp.
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