PDMI Paradigm Medical Industries Inc (CE)

Paradigm Medical Industries, Inc. (OTCBB: PDMI) announced that on April 7, 2009 the Company signed a "Letter of Intent" (LOI) with Fairhills Capital for a structured financing of up to $1.8 million through the purchase of promissory notes from the Company. The LOI provides that $600,000 in notes will be purchased every three months over a nine month period, with the first purchase of $300,000 in notes to be made at closing and the remainder to be purchased upon the satisfaction of financial objectives to be mutually determined between the Company and Fairhills Capital.

Final details and contract for the financing are ongoing and expect to sign an agreement within the next ten days. Paradigm Medical will utilize the capital from the funding to re-launch and re-brand the Company in the global and domestic markets. Proceeds will be used for the development, redesign and upgrade to a number of their key products and to hire new key management and a sales team to help lead these efforts.

Fairhills Capital is a private equity firm that invests capital into companies in the emerging markets. The firm pursues investment opportunities in small-cap companies that have a strong management team and the ability to implement their business plan. Fairhills Capital has invested in over 50 public and private companies in various sectors including oil and gas, communication, arts and entertainment, services and medical sectors.

"The financing with Fairhills Capital is a major milestone for the Company," said Paradigm Medical's President, Stephen Davis. "With our new executive leadership, Paradigm is revitalized with a fresh, new sense of optimism and growth. We look forward to regaining the confidence of our shareholders as well as enhancing shareholder value."

About Paradigm Medical Industries, Inc.

Headquartered in Salt Lake City, UT, Paradigm Medical Industries, Inc. is a medical device company that develops, manufactures and distributes cutting edge, new innovative products in the diagnostic ultrasound and early glaucoma detection markets. Paradigm has the only patented technology utilizing photon laser for cataract removal. The Company is poised to capture a niche market within the Glaucoma and ultrasound microscopy fields. Paradigm Medical Industries markets its products to ophthalmologists, optometrists, universities, and clinics throughout the United States, as well as internationally.

For more information, please visit: www.paradigm-medical.com

This press release contains statements that, if not verifiable historic fact, may be viewed as forward-looking statements that could predict future events and outcomes with respect to Paradigm and its business. The predictions embodied in these statements will involve risk and uncertainties and, accordingly, actual results may differ significantly from the results discussed or implied in such forward-looking statements.

Contact: Paradigm Medical Industries, Inc. Stephen Davis President 801-977-8970 www.paradigm-medical.com