Urodynamix Cancels Proposed Share Consolidation

VANCOUVER, British Columbia, May 23, 2007 - Urodynamix Technologies Ltd. (TSX-V:URO) today announced that the Board of Directors has decided to cancel a proposed share consolidation in light of recent corporate developments, most notably the execution of a worldwide distribution agreement with Laborie Medical Technologies that was announced on May 17, 2007.

At the upcoming Annual and Special Meeting of Shareholders (the “Meeting”) to be held on June 4, 2007 shareholders had  been asked to vote on a special resolution authorizing the Board of Directors, if and when it deemed appropriate, to consolidate the then outstanding common shares of the Company within a range of one new common share for two outstanding common shares and one new common share for ten outstanding common shares. The Board has decided that it is no longer in the best interests of the Company to proceed with the consolidation and is withdrawing the share consolidation resolution from the matters to be voted on at the Meeting.

Since the Board has determined not to proceed with the share consolidation, shareholder approval would be required if the Board was to re-consider a share consolidation.  The Company will not be distributing new forms of proxy for the Meeting.

About Urodynamix Technologies Ltd.

Urodynamix is developing a portfolio of non-invasive diagnostic products for a variety of large and growing global markets. The Company is currently developing NIRS applications for urological conditions in men and women, intra-abdominal hypertension and compartment syndrome, erectile dysfunction and vascular diseases. The Company’s disruptive technology has the potential to affect the diagnosis and treatment of more than 200 million people worldwide.

On behalf of the Board,

“Barry Allen”
President & CEO
Urodynamix Technologies Ltd.

Certain information contained in this press release may be forward-looking and is subject to unknown risks, which could cause actual results to differ materially from those set forth or implied herein. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Craig Pamplin, PhD, CFA
Director, Corporate Development and Communications
Urodynamix Technologies Ltd.
Tel: (604) 638-0247
Email: cpamplin@urodynamix.com
www.urodynamix.com