SOURCE: Hathaway Corporation

September 11, 2007 06:31 ET

Hathaway's (HWYI) Subsidiary, Diabetes Detection Inc. (DDI), Completes Second-Generation Prototype

Company Looks to Deliver Technology to 75 Million Diabetes and Pre-Diabetes Patients in US Alone

PALO ALTO, CA--(Marketwire - September 11, 2007) - Hathaway Corporation (PINKSHEETS: HWYI), a company that focuses on acquiring, developing, and managing disruptive technologies in the telecommunications, medical devices, and software fields that change the way companies grow and service their business globally, has announced that its subsidiary, Diabetes Detection Inc. (DDI), has completed its second-generation pager prototype, and is preparing to go to clinical trials.

DDI is a next-generation medical device company addressing the Diabetes epidemic worldwide through the diagnosis and monitoring of Neuropathy -- an early sign of Diabetes.

DDI's first product, its patent-pending Neuropathy testing technology converged with a pager that is widely used in the medical field, has been co-developed with Daviscomms (S) Pte. Ltd., a worldwide leading communications device manufacturer.

"We are pleased with the incredibly quick progress on the development of the pager, and expect a final prototype, one that will permit DDI to proceed to clinical trials, and submission of a 510(k) application for FDA clearance, within a matter of weeks," said Sadruddin Currimbhoy, COO of Hathaway.

DDI's business model includes the deployment of several innovative product lines incorporating its patent-pending Neuropathy testing technology, which include the pager, a Smartphone/PDA using RIM's BlackBerry or similar device, and several unique consumer products. DDI expects its revenues to grow to $26m in its third year, $78m in its fourth year, and continue growing exponentially thereafter.

20.8m people in the US, or nearly 7% of the population, have Diabetes. A further 54m have pre-Diabetes (Source: ADA). DDI's consumer products, which will include Smartphones, will deliver its Neuropathy diagnostic and monitoring technology to these 75m potential users in the US, and many millions more worldwide.

About Hathaway

Hathaway Global Inc. focuses on acquiring disruptive technologies in the telecommunications, medical devices, and software fields that can change or alter the way companies grow and service their businesses globally. Hathaway provides financial and infrastructural support to create revenue growth companies, positioning them to leverage the opportunities such technologies are typically capable of. Hathaway then offers the company on the public market or facilitates a buyout. Through companies like OptiCon, Hathaway brings the communication solutions of the future to today's business marketplace. To request further information about Hathaway, please email us at investors@hathawayglobal.com

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This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.

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