EXHIBIT 99

Contact: Medical Discoveries, Inc.                         FOR IMMEDIATE RELEASE
208-736-1799

              MEDICAL DISCOVERIES, INC. COMPLETES PRIVATE PLACEMENT

               Funding Drives Preclinical Research, Pre-IND Tasks

TWIN FALLS, IDAHO, January 21st, 2004 - Medical Discoveries, Inc. (OTC-BB as
MLSC) announced today that it has closed a private placement of restricted
common stock with gross proceeds to the company of $1.1 million.

The funds will be used primarily to complete the needed preclinical work
(in-vivo animal models of infectious diseases) and Chemistry, Manufacturing and
Control (CMC) work to support the filing of the Company's investigational new
drug application (IND) for its proprietary therapeutic product, MDI-P, in late
2004. The IND filing and approval will be necessary to initiate Phase I clinical
trials in HIV at Harvard Medical School.

The Company has several preclinical studies underway at the University of
Washington Medical School, to contribute needed data to the IND. Similarly, a
separate CMC/cGMP study for the manufacture of MDI-P will commence shortly at
both the Goodwin Biotechnology Laboratories and Charles River Laboratories.
Prior to initiating human clinical studies, the US FDA requires the applicant to
demonstrate that the therapeutic product under investigation was manufactured in
compliance with the FDA's Chemistry, Manufacturing and Control (CMC) guidelines,
including use of current Good Manufacturing Practices (cGMP).

MDI's President & CEO, Judy Robinett, commented: "This financing is instrumental
in our efforts to deliver on our promise of developing MDI's patented technology
for therapeutic applications. With this funding, we should have the resources
necessary to complete preclinical trials. By completing these trials, we hope to
successfully move the product further toward commercial approval and continue to
drive the intrinsic value of the business."


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The securities issued in MDI's private placement have not been registered under
the Securities Act of 1933, as amended, and may not be offered or sold without a
registration statement or exemption from registration. MDI did not grant any
registration rights or other rights to the purchasers. Therefore, the restricted
common stock may not be sold unless the provisions of Rule 144 are satisfied
(including a minimum one-year resale restriction).

Formed in 1991, Medical Discoveries, Inc. is a publicly traded (OTC Bulletin
Board: MLSC) development-stage biopharmaceutical research company (as defined in
SFAS No.7) engaged in the research, development and validation of its patented
anti-infective technology. MDI's electrolyzed solution of free radicals
represents a novel approach to treating its initial target indication, HIV.

Information in this press release relating to the potential of MDI constitutes
forward-looking statements. Actual results in future periods may differ
materially from the forward-looking statements because of a number of risks and
uncertainties, including but not limited to: MDI's lack of significant operating
revenue to date; MDI's need for substantial and immediate additional capital;
the fact that MDI may dilute existing shareholders through additional stock
issuances; the extensive governmental regulation to which MDI is subject; the
fact that MDI's technologies remain unproven; the intense competition MDI faces
from other companies and other products; and MDI's reliance upon patents and
other intellectual property that may not provide meaningful protection against
competitors. Additional information about these and other factors that could
affect MDI's business is set forth in MDI's 2002 Annual Report on Form 10-KSB
and other filings with the Securities and Exchange Commission.

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