CardioGenesis Sets Date for Fourth-Quarter, 2002 Year End Results Announcement and Conference Call.

CardioGenesis Corporation , the market leader in angina- relieving Transmyocardial Revascularization (TMR) and Percutaneous Myocardial Revascularization (PMR), announced that it will release its financial results for the fourth-quarter and year ended December 31, 2002, before the market opens on Tuesday, February 25, 2003. That same day, at 1:00 p.m. EST (Eastern), CardioGenesis senior management will host a conference call to be broadcast live over the Internet to discuss the Company's results for the quarter and comment on the current progress of the business. Those interested in listening to the live webcast of the conference call may do so by going to the Company's website at www.cardiogenesis.com .

Webcast participants are encouraged to go to the website at least 15 minutes prior to the start of the call to register and, if necessary, download any needed audio software. A replay of the call will be accessible at http://www.cardiogenesis.com/ for seven days starting shortly after the live webcast.

About CardioGenesis Corporation

CardioGenesis is a medical device company specializing in the treatment of cardiovascular disease and is the leader in products that stimulate cardiac angiogenesis. The Company's market leading Holmium YAG laser system and disposable fiber-optic accessories are used to perform a FDA-cleared surgical procedure known as transmyocardial revascularization (TMR) to treat patients suffering from angina. The CardioGenesis TMR procedure, which is marketed in the U.S., Europe and Asia, has been shown to reduce angina and improve the quality of life in patients with coronary artery disease. The Company's minimally invasive PMR procedure, which is CE approved, is currently being marketed in Europe and other international markets.

For more information on the Company and its products, please visit the CardioGenesis web site at http://www.cardiogenesis.com/ . For investor relations information, visit the CardioGenesis pages in the "Client" section of the Allen & Caron Inc web site at http://www.allencaron.com/ .

Any forward-looking statements in this news release related to the Company's sales, profitability, the adoption of its technology and products and FDA clearances are based on current expectations and beliefs and are subject to numerous risks and uncertainties that could cause actual results to differ materially. Other factors that could cause CardioGenesis' actual results to differ materially are discussed in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2001, Quarterly Report on Form 10-Q for the quarter ended September 30, 2002 and the Company's other recent SEC filings. The Company disclaims any obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

For further information please contact: Mike Mason (investors), +1-212-691-8087, michaelm@allencaron.com, or Len Hall (media), +1-949-474-4300, len@allencaron.com, both of Allen & Caron Inc, for CardioGenesis Corporation; or Darrell Eckstein, President of CardioGenesis Corporation, +1-714-649-5000.

CONTACT: investors, Mike Mason, +1-212-691-8087, michaelm@allencaron.com, or media, Len Hall, +1-949-474-4300, len@allencaron.com, both of Allen & Caron Inc, for CardioGenesis Corporation; or Darrell Eckstein, President of CardioGenesis Corporation, +1-714-649-5000

Web site: http://www.cardiogenesis.com/