November 14 2008

Former Chairman and CEO Purchases Controlling Interest in VeriChip Corporation

Scott R. Silverman acquires 5.4 million shares from Digital Angel Corporation

VeriChip purchases all intellectual property rights related to human implantable RFID business including glucose-sensing microchip patent from Digital Angel

DELRAY BEACH, FL– November 12, 2008 –VeriChip Corporation (the “Company”) (NASDAQ: CHIP), a provider of radio frequency identification (RFID) systems for healthcare and patient-related needs, today announced that R&R Consulting Partners, LLC, an entity wholly owned by its former Chairman and Chief Executive Officer, Scott R. Silverman, has purchased Digital Angel Corporation’s (“Digital Angel”) (NASDAQ: DIGAD) 5.4 million shares of VeriChip common stock. Combined with Silverman’s existing holdings of 861,000 shares he now controls 6.2 million shares, or 53%, of the Company.

In a separate transaction, VeriChip has purchased from Digital Angel all patents related to an embedded bio-sensor system for use in humans and the assignment of any rights of Digital Angel under a development agreement associated with the development of an implantable glucose-sensing microchip. The Company also received covenants from Digital Angel and its subsidiary that will permit the Company to use Digital Angel’s intellectual property related to the Company’s VeriMed Health Link business without payment of ongoing royalties, as well as inventory and a limited period of technology support from Digital Angel.

Silverman will re-assume the role of Chairman of VeriChip’s Board of Directors, replacing Joseph Grillo, and will oversee the day-to-day operations of the Company. As of today, the Company has over $8 million of cash and restricted cash and no debt. 

Silverman commented on the transaction, “The prior controlling stockholder of the Company preferred a different path for the Company, which could have jeopardized the value of our FDA-cleared, first-of-a-kind medical device for patient identification.  I couldn’t let that happen.  Our stockholders and the medical community believe in the value of our technology and its ability to evolve patient care and medical record access.  I am eager to reignite the VeriMed Health Link business including our patient, hospital and physician outreach activities. We will focus once again on our core geographies and ensure our important relationships with advocacy groups are maintained and successful. Furthermore, we will continue the development of the glucose-sensing microchip in conjunction with RECEPTORS LLC, who is making good progress. In the near future, we will update the investor community on the results of our Phase I development of the glucose sensor.”

Silverman continued, “In addition to restoring our VeriMed Health Link patient identification application, we will also consider and review other strategic opportunities. With our strong balance sheet, our NASDAQ listing and a difficult capital market environment, VeriChip Corporation is positioned well for growth and opportunities.”

About VeriChip Corporation

VeriChip Corporation, headquartered in Delray Beach, Florida, markets its VeriMed™ Health Link System for rapidly and accurately identifying people who arrive in an emergency room and are unable to communicate. This system uses the first human-implantable passive RFID microchip, cleared for medical use in October 2004 by the United States Food and Drug Administration.

For more information on VeriChip, please call 1-800-970-2447, or e-mail info@verichipcorp.com. Additional information can be found online at www.verichipcorp.com.

Statements about VeriChip’s future expectations, including its ability to reignite the VeriMed Health Link business, maintain relationships with advocacy groups, focus on core geographies, develop a glucose-sensing microchip and continue expanding the business and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and VeriChip’s actual results could differ materially from expected results. Additional information about these and other factors that could affect the Company’s business is set forth in the Company’s various filings with the Securities and Exchange Commission, including those set forth in the Company’s 10-K filed on March 28, 2008, as amended, under the caption “Risk Factors.” The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.

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Contact:

Allison Tomek

Phone: (561) 805-8000

atomek@verichipcorp.com