LOS ANGELES, Sept. 10 /PRNewswire-FirstCall/ -- Signalife, Inc. (Amex: SGN) announced that the company's board of directors has approved a consolidation of the company's common stock to be effected in the form of a reverse stock split which will be effected as of 4:30 p.m. EST on September 19, 2008, which will be the record date and time for the reverse stock split. As of such date and time of such reverse stock split, all outstanding shares of Signalife common stock will be consolidated into such number of shares as would result in a $45.00 per share stock price based upon the closing price for the common stock as of the record date. The reverse stock split will be structured in the form of a mandatory share exchange, meaning that each shareholder will be required to first exchange his or her certificate with the company's stock transfer agent in order to change title incident to any sale or other transaction. The exchange of common shares beneficially held in street name (i.e., through a broker-dealer) will most likely be effected through the Depository Trust Corporation without the necessity of the beneficial holder submitting his or her shares for exchange. Shares held directly in the name of the shareholder or other than in street name (such as in the case of the company's principal shareholder, ARC Finance Group, LLC), will need to be exchanged by the shareholder of record with the company's stock transfer agent. Should any shareholder have any questions relating to the mechanics of the mandatory share exchange, he or she should contact Signalife's stock transfer agent, Standard Registrar and Transfer Company, Inc., 12528 South 1840 East Draper, Utah 84020, Tel: 801-571-8844, Fax: 801-571-2551, and e-mail: standard@comcast.net.

Rowland Perkins, Signalife's Chief Executive Officer, stated, 'One of the principal reasons for the consolidation is to address the continued illegal short-selling in the company's common stock. It is believed that a significant reduction in the company's public float will reduce or minimize the ability of illegal short sellers to manipulate the market price of the common stock. To address this situation, Signalife has engaged lawyers nationwide in order to assure that every naked short sale (4 days of non-delivery after sale) will be answered instantaneously by a lawsuit in the jurisdiction relevant to the brokerage house. If short sellers wish to get sued, and subject themselves to discovery, every four days, we have lawyers who will oblige them on contingency bases and will move for injunctive relief immediately. The only exceptions will be those persons who unilaterally send a letter to the company that outlines who they are, that they are making a market in the securities, and that they are not conducting any long-term short selling more than 13 days (the SHO threshold list). These must be in writing in order to avoid being sued.