Audiotech Healthcare Corporation (the "Company") is pleased to announce that the private placement described in its News Releases of June 4, June 22 and July 16, 2001, consisting of a total of 56 $1,000 Convertible Debentures, to raise a total of $56,000, has received the approval of the Canadian Venture Exchange and will be closing imminently. Each Convertible Debenture pays interest, quarterly, at 10% compounded annually, and matures two years from the date of issue. The Debentures are convertible at the option of the Holder at any time before the maturity date at a conversion price of $0.25 per share during the initial year and $0.35 per share during the second year.

Shares acquired upon any conversion will be subject to a hold period as described by the Canadian Venture Exchange policies and the Rules of the BC Securities Commission.

On Behalf of the Board: