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September 7th, 2004

Ventana and Quantum Dot Announce Agreement

Abstract:
Ventana Medical Systems, Inc. and Quantum Dot Corporation announced comprehensive licensing and supply agreements relating to QDC's Qdot® nanocrystal technology for in vitro diagnostic applications in Anatomic Pathology and Cytology.

Story:

Ventana and Quantum Dot Announce Agreement

Tucson, AZ, and Hayward, CA . September 7th, 2004

Ventana Medical Systems, Inc. (Nasdaq: VMSI), and Quantum Dot Corporation (QDC) announced comprehensive licensing and supply agreements relating to QDC's Qdot® nanocrystal technology for in vitro diagnostic applications in Anatomic Pathology and Cytology. Ventana will also incorporate QDC technology in its research and pharmaceutical discovery platforms. Under the terms of the agreement, QDC will supply Qdot nanocrystals for Ventana's incorporation into next-generation rapid, quantitative, and multiplexed assays for cancer diagnosis and disease management. Financial terms of the agreement were not disclosed.

"As a leading provider of automated diagnostic solutions, Ventana is committed to identifying those technologies that enable us to effectively address the increasing demands placed on the anatomical pathology laboratory in the important role they play in improving patient care," stated Christopher Gleeson, President and Chief Executive Officer of Ventana. "Quantum Dot's expertise and intellectual property provide tools for Ventana to extend our leadership position in tissue-based molecular diagnostics, and we look forward to a very productive partnership."

"The choice of our Qdot nanocrystals for Ventana's expansion into fluorescent in vitro diagnostics continues to validate the value of our technology," commented George Dunbar, QDC's Chief Executive Officer. "Leveraging Ventana's development expertise and worldwide sales and distribution capabilities is an effective way to provide Qdot nanocrystal products to anatomic pathology customers. This is a good model for future field-defined partnerships for our company."

About Ventana Medical Systems, Inc.

Ventana develops, manufactures, and markets instrument/reagent systems that automate slide preparation and staining in clinical histology and drug discovery laboratories worldwide. Ventana's clinical systems are important tools used in the diagnosis and treatment of cancer and infectious diseases. Ventana's drug discovery systems are used to accelerate the discovery of new drug targets and evaluate the safety of new drug compounds.

About Quantum Dot Corporation (www.qdots.com)

Quantum Dot is a privately held bioscience company that has pioneered the development and commercialization of Qdot® nanocrystals for bio-detection in discovery and clinical applications. QDC's current products include more than 40 life science kits and applications, used by life science discovery laboratories worldwide. QDC will soon be launching its first integrated instrumentation, software, and bio-reagents platform, the Mosaic™ system, for rapid and quantitative multiplexed gene expression analysis. QDC collaborates with leading academic and industrial partners and has over 130 patents and patents-pending.

Any statements made about the Ventana's anticipated success of product development activities and product development are forward-looking statements subject to risks and uncertainties, such as the risks inherent in the development, manufacturing, marketing and sale of medical products, competitive factors, general economic conditions, legal disputes, and government actions as more fully described in Ventana's Annual Report on Form 10-K for the year ended December 31, 2003. Actual results may differ materially from anticipated results.

Ventana Medical Systems Contacts:
Christopher M. Gleeson
President and CEO
(520) 229-3787

Nick Malden
Chief Financial Officer
(520) 229-3857

Quantum Dot Corporation Contacts:
George Dunbar
CEO
(510) 887-8775

Carol Lou
President
(510) 887-8775

Copyright Ventana Medical Systems and Quantum Dot Corporation. Reprinted with permission.

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