Ranked 444TH Fastest Growing Company in North America

ANDOVER, Mass.--(BUSINESS WIRE)--Nov. 1, 2007--Diomed Holdings, Inc. (AMEX: DIO - News), a leading developer and marketer of minimally invasive medical technologies, including its patented EndoVenous Laser Treatment (EVLT(R)) for varicose veins, today announced that it has been named in Deloitte's 2007 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America.

"Deloitte's Technology Fast 500 recognizes technology companies who have achieved extraordinary growth in North America's most innovative and competitive sectors," said Phil Asmundson, Vice Chairman, U.S. Technology, Media and Telecommunications, Deloitte & Touche USA LLP. "We congratulate Diomed on this significant accomplishment."

The Fast 500 rankings are compiled from Deloitte's 16 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. Companies are selected based on percentage revenue growth over five years from 2002 to 2006. Overall, companies that ranked on the 2007 Technology Fast 500 had growth rates ranging from 253 to 79,060 percent, with an average growth rate of 1,823 percent.

Entrants must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues or devote a significant proportion of revenues to research and development of technology. To qualify, base-year operating revenues must be at least $50,000, and current year operating revenues must be at least $5 million. Companies must be in business a minimum of five years, and they must be headquartered within North America.

"We are honored to be included in this list of distinguished technology companies," added James A. Wylie, Jr., President and Chief Executive Officer of Diomed Holdings, Inc. "With a history of innovation and a clear vision of the future, Diomed has experienced exceptional growth and established itself as the leading laser solution for the elimination of varicose veins."

About Diomed

Diomed develops and commercializes minimal and micro-invasive medical procedures that use its proprietary laser technologies and disposable products. Diomed's EVLT(R) laser vein ablation procedure is used in varicose vein treatments. Diomed also provides photodynamic therapy (PDT) for use in cancer treatments, and dental and general surgical applications. The EVLT(R) procedure and the Company's related products were cleared by the United States FDA in January of 2002. Along with lasers and single-use procedure kits for its EVLT(R) laser vein treatment, the Company provides its customers with state of the art physician training and practice development support. Additional information is available on the Company's website: www.evlt.com.

EVLT(R) is a registered trademark of Diomed Inc., Andover, MA.

Safe Harbor
Safe Harbor statements under the Private Securities Litigation Reform Act of 1995: Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with trends in the products markets, reliance on third party distributors in various countries outside the United States, reoccurring orders under OEM contracts, market acceptance risks, technical development risks and other risk factors. These statements relate to our future plans, objectives, expectations and intentions. These statements may be identified by the use of words such as "may," "will," "should," "potential," "expects," "anticipates," "intends," "plans," "believes" and similar expressions. These statements are based on our current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties. Our actual results could differ materially from those discussed in these statements. Our 2006 Annual Report on Form SEC 10-KSB (the "Annual Report") contains a discussion of certain of the risks and uncertainties that affect our business. We refer you to the "Risk Factors" on pages 19 through 34 of the Annual Report for a discussion of certain risks, including those relating to our business as a medical device company without a significant operating record and with operating losses, our risks relating to our commercialization of our current and future products and applications and risks relating to our common stock and its market value. Diomed disclaims any obligation or duty to update or correct any of its forward-looking statements.

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. Deloitte Touche Tohmatsu is an organization of member firms around the world devoted to excellence in providing professional services and advice, focused on client service through a global strategy executed locally in nearly 140 countries. With access to the deep intellectual capital of approximately 150,000 people worldwide, Deloitte delivers services in four professional areas--audit, tax, consulting, and financial advisory services--and serves more than 80 percent of the world's largest companies, as well as large national enterprises, public institutions, locally important clients, and successful, fast-growing global companies. Services are not provided by the Deloitte Touche Tohmatsu Verein, and, for regulatory and other reasons, certain member firms do not provide services in all four professional areas.

As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu," or other related names.

CONTACT: Diomed Holdings, Inc.
Christopher J. Geberth, 877-434-6633 or 978-824-1816
Vice President Finance
investor-relations@diomedinc.com
or
Burns McClellan
Carney Noensie, 212-213-0006
Investor Relations
cnoensie@burnsmc.com

SOURCE: Diomed Holdings, Inc.