Dow Jones 10368.86  9:00 am EST, Mon., March 4, 2002  NASDAQ  1802.74  For info, visit access.smallcapnetwork.com .  S & P 500  1131.78  To be removed, please click here .  Russell 2000     478.34  VOLUME 02: ISSUE 17 The New York Post Features Diomed Inc. & Former Canadian Prime Minister Joins Company When the SmallCap Digest profiled Diomed Inc (DIO) on February 22 we knew this company was special.  This clinical solutions company reversed merged with a shell company onto the OTC Bulletin Board and consequently moved to the American Stock Exchange within a week.  This type of transaction has been unheard of until now.  Today, Diomed is featured in the business section of the NY Post.  The world is beginning to pay attention to this company and rightly so. Click here to view the Post article in its entirety. In addition to the NY Post article Diomed announced today that Kim Campbell, former prime minister of Canada, has been named to its board of directors. This is a great way to start off the week for those subscribers that already own Diomed.  The SmallCap Digest feels that Diomed should be accumulated up to $8 per share and over the course of this year has the potential to reach $12.  This would represent a potential gain of 90% from Friday's close of $6.30 per share.  For those readers that missed the original profile on Diomed, you may view it by clicking here. With any investment there is always risk.  This holds true especially when investing in biotech.  However, with that being said, investors should also realize that Diomed already has significant revenues and expects to reach profitability in this fiscal year.  The company's business model is not centered on burning cash for FDA approvals.  Rather, the company has entered into partnerships with the four largest photodynamic therapy (PDT) drug companies.  Companies such as QLT Inc (QLTI), Pharmacyclics (PCYC), DUSA Pharmaceuticals (DUSA), and Axcan Pharmaceuticals (AXCA) spend millions of dollars to get their PDT drugs approved.  Upon approval, Diomed generates revenue by supplying these companies with lasers and fibers that are used in the PDT treatment process.  Although the drug makers that ultimately receive FDA approvals benefit the most there is significantly more risk in owning these companies. Diomed is the "picks and shovels" supplier in the industry. Will the drug makers strive to get more drugs approved?  Yes they will and each new approval could mean millions of dollars in revenue for Diomed.   The growth of PDT is very important to the future of Diomed but there is another component to the company that is even more exciting.  Diomed is also the first company to receive FDA approval for EVLT, the treatment of varicose veins.  The companies revolutionary procedure has been featured on Good Morning America and the New York Times. Varicose veins adversely affect the appearance of the legs of 25% of women worldwide. This simple, relative painless solution has a 98% success rate and requires 45 minutes to complete the treatment. Women and men worldwide who have been plagued by unsightly varicose veins now have a reasonable solution to their problem. The potential market for this treatment runs into the hundreds of millions of dollars.  Below is today's press release in full:     Monday March 4, 8:56 am Eastern Time Press Release SOURCE: Diomed, Inc. Former Canadian Prime Minister Named New Diomed Board Member ANDOVER, Mass., March 4 /PRNewswire-FirstCall/ -- Diomed, Inc. (Amex: DIO - news), a provider of clinical modalities used in minimal and micro-invasive medical procedures, announced today that Kim Campbell, former prime minister of Canada, has been named to its board of directors. Ms. Campbell served as Canada's 19th and first female Prime Minister in 1993. She was also minister of justice, attorney general, and minister of national defense. In 2000, she completed a four-year term as Consul General of Canada, in which she fostered trade in the high-tech and biotechnology industries. Today she is a Visiting Professor of Practice at the John F. Kennedy School of Government at Harvard University. ``We are very pleased to enlist Ms. Campbell's skills and expertise on our board of directors,'' commented James Arkoosh, Diomed Chairman of the Board. ``Indeed, her range of experience will strengthen and diversify the board.'' Kim Campbell noted, ``I am extremely enthusiastic about this opportunity. Diomed is an innovative company with vast potential. I am confident I can bring a unique perspective to Diomed's board, and contribute to the company's ongoing success.'' Ms. Campbell currently holds a range of prestigious positions, including Senior Fellow of the Gorbachev Foundation of North America in Boston, and member of the International Council of the Asia Society of New York. Her best selling political memoir, Time and Chance, was published in 1996. Ms. Campbell was educated at the University of British Columbia (BA, 1969, LLB, 1983) and the London School of Economics (Doctoral studies in Soviet Government, ABD, 1970-73). ``With an increasingly robust board of directors, our recent merger with a publicly held company, and several important FDA clearances, Diomed is poised for continued success using proprietary laser technologies,'' commented Diomed CEO Peter Klein. Diomed provides clinical modalities and specializes in the development and distribution of equipment and disposable items used in minimal and micro- invasive medical procedures. In developing and marketing its innovative clinical solutions, it uses proprietary technology and aims to secure strong commercial advantages over its competitors by gaining governmental approvals in advance of others and through exclusive commercial arrangements. To participate in the rapidly growing minimal and micro-invasive medical procedure industry, Diomed seeks to integrate disposables into its product lines. Diomed holds proprietary technology in certain methods of synchronizing diode light sources and in certain optical fibers. Diomed focuses on photodynamic therapy (PDT) for use in cancer treatments, EndoVenous Laser Treatment (EVLT(TM)) for use in varicose vein treatments, and on dental and general surgical applications.     For more information about Diomed, Inc., please visit www.diomedinc.com.      For More Information:      Contact:       Investor Relations      Phone Number:  +01 866-4DIOMED (434-6633)      Fax Number:    +01 978-475-8488      E-mail:        Lbruneau@diomed-lasers.com      Mailing Address:    Diomed, Inc.                          One Dundee Park                          Andover, MA 01810                          USA         SOURCE: Diomed, Inc.     Investors with additional questions should contact investor relations toll free at 1-888-400-0643.   D I S C L A I M E R : The SmallCap Digest is an independent electronic publication committed to providing our readers with factual information on selected  publicly traded companies. 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