This press release contains "forward-looking" statements, including all statements regarding the further development of Cardica's MicroCutter product line and product introduction, the anticipated timing of recommencement and the anticipated structure of its clinical trial, and the anticipated benefits of reprioritizing its development on the XCHANGE™ 30. The words "will," "plans," "intends," "believe" and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause Cardica's results to differ materially from those indicated by these forward-looking statements, including: that the European clinical trial may not be commenced or completed on schedule, or at all, due to events or difficulties in the development of the microcutter products; that Cardica may not complete the development of, obtain regulatory approval of, and commercially launch, any products in its planned microcutter product line on its anticipated timeframe, or at all, due to regulatory, technical, manufacturing or financial difficulties; that Cardica's current and any future products may never gain any significant degree of market acceptance; that Cardica's sales, marketing and distribution strategy and capabilities may not be sufficient or successful; that Cardica requires substantial additional capital which, if not obtained, may prevent it from completing the development and commercialization of its microcutter products; that general business and economic conditions may impair Cardica's ability to market and develop products; as well as other risks detailed from time to time in Cardica's reports filed with the U.S. Securities and Exchange Commission, including its Form 10-Q for the fiscal quarter ended September 30, 2011. Cardica expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein. You are encouraged to read Cardica's reports filed with the U.S. Securities and Exchange Commission, available at www.sec.gov.