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CORRECTING and REPLACING AccelPath, Inc. In Discussions with Bidders for $6.9 Billion portion of $24 Billion U.S. Government Contract To Provide Its Proprietary 3D Camera Technology

Please replace the release with the following corrected version due to multiple revisions.

The corrected release reads:

ACCELPATH, INC. IN DISCUSSIONS WITH BIDDERS FOR $6.9 BILLION PORTION OF $24 BILLION U.S. GOVERNMENT CONTRACT TO PROVIDE ITS PROPRIETARY 3D CAMERA TECHNOLOGY

AccelPath, Inc. (OTCBB: ACLP) (“AccelPath” or the “Company”) announced today that the Company is in discussions with several contractors, who are bidding on the U.S. Federal Government’s $6.9 billion Network-Centric Solutions 2 initiative (“NETCENTS-2”), to use the Company’s proprietary 3D camera facial recognition technology and products. AccelPath’s 3D camera technology is the only camera that meets the exact technical specifications for the NETCENTS-2 program. The total value of NETCENTS-2 exceeds $24 billion over a seven-year period, with the portion applicable to AccelPath totaling $6.9 billion.

The purpose of NETCENTS-2 is to provide Air Force, Department of Defense, and other Federal Agencies with a primary source of net-centric and IT products, services, and solutions. Use of the NETCENTS-2 contracts is mandatory for Air Force organizations as the contracts are awarded.

“AccelPath is a leader in 3D imaging technology. The Company’s 3D camera is a proprietary, novel device with many applications such as facial recognition and medical imaging. We are proud that our 3D cameras meet the NETCENTS-2 requirements and have been chosen by multiple companies who are bidding on the NETCENTS-2 contracts,” said Shekhar Wadekar, the Company’s Chief Executive Officer. “This 3D imaging technology was acquired as part of the Company’s acquisition of Technest Holdings in 2011. We will continue to exploit the value of this technology, as it relates to non-core applications, while pursuing our core business of digital telepathology and the applications for this technology in telemedicine.”

About NETCENTS-2

The NetCents program supports the Global Information Grid architecture, the Defense Information Infrastructure, the Air Force, and the Defense Communications Systems' info-structure for computer networks and telecommunications network mission areas, according to the Defense Department announcement. The contract runs through July 2022.

About AccelPath

AccelPath provides technology solutions that play a key role in delivering information required for diagnosis of diseases and other pathologic conditions with and through its associated institutional pathologists. The medical institutions, with whom the Company partners, prepare comprehensive diagnostic reports of a patient’s condition and consult with referring physicians to help determine the most appropriate treatment. Such diagnostic reports enable the early detection of disease, allowing referring physicians to make informed and timely treatment decisions that improve their patients’ health in a cost-effective manner. The Company seeks out referring physicians and histology laboratories in need of high-quality pathology interpretations and manages HIPAA-compliant digital case delivery and reporting while developing comprehensive solutions for managing medical information.

AccelPath is currently focused on the $14 billion anatomic pathology market in the US. The Company’s business model builds upon the expertise of experienced pathologists to provide seamless, reliable and comprehensive pathology and special test offerings to referring physicians using conventional and digital technologies. The Company establishes longstanding relationships with the referring physicians as a result of focused delivery of its partner’s diagnostic services, personalized responses and frequent consultations, and its proprietary flexible information technology, or IT, solutions that are customizable to the referring physicians’ or laboratories as well as the pathologists’ needs. Such diagnostic reports often enable the early detection of disease, allowing referring physicians to make informed and timely treatment decisions that improve their patients’ health in a cost-effective manner. AccelPath’s IT and communications platform enables it to efficiently and securely deliver diagnostic reports to referring physicians. In addition, AccelPath’s IT platform enables close tracking and monitoring of medical statistics.

AccelPath is focused on the design, research, development and integration of three-dimensional imaging devices and systems primarily in the healthcare industries which it contributes to the Company. The Company will also exploit its three-dimensional imaging technology for use in intelligent surveillance devices and systems, as well as three-dimensional facial recognition systems for security and law enforcement agencies through future strategic partnerships. Historically, the Company’s largest customers have been the National Institutes of Health and the Department of Defense.

Additional Company information may be found on the Internet at: www.accelpath.com.

Forward-Looking Statements

This press release contains certain “forward-looking statements” relating to the business of the Company, which can be identified by the use of forward-looking terminology such as “may,” “will,” “expect,” “anticipate,” “intend,” “estimate,” “believe,” “project,” “continue,” “plan,” “forecast,” or other similar words, or the negative thereof, unless the context requires otherwise. These statements include, but are not limited to, statements about the Company’s current discussions with scanner manufacturers, the Company’s expected future performance and the acceptance of the Company’s product offerings. The results anticipated by any or all of these forward-looking statements may not occur. In addition, these statements reflect management’s current views with respect to future events and are subject to numerous risks, uncertainties and other factors that could cause actual results to differ materially from those set forth in or implied by these forward-looking statements. Factors that could affect those results include, but are not limited to, our ability to conclude our discussions with these manufacturers on favorable terms, the acceptance of our solutions in the marketplace, the efforts of our sales force, general economic conditions, and those described in the Company’s reports on Forms 8-K, 10-Q and 10-K and proxy statements and information statements including amendments, which have been or will be filed by the Company with the Securities and Exchange Commission (the “SEC”), including without limitation under the caption “Risk Factors” in the Company's Annual Report on Form 10-K filed on October 13, 2011. Many of the factors that will determine the outcome of the subject matter of this press release are beyond the Company’s ability to control or predict. The Company undertakes no obligation and expressly disclaim any obligation, to revise or publicly update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

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