PST ProShares UltraShort Lehman 7 10 Year Treasury

Patient Safety Technologies, Inc. (AMEX:PST) announced today that it has engaged Ault Glazer Bodnar Securities LLC, an investment banking firm affiliated with the Company's former chairman, to assist the Board of Directors in exploring and evaluating a range of possible strategic opportunities and alternatives to maximize shareholder value, including acquisitions, financings, spin-offs, or the sale, merger or joint venture of the Company's wholly-owned subsidiary SurgiCount Medical, to or with, another entity or healthcare provider offering strategic opportunities for growth. "In order to fully realize the growth potential inherent in the Company's core healthcare brand and businesses we have built to date, we are evaluating strategic alternatives in order to expand our scale and maximize value for our shareholders. We have recently received several unsolicited inquiries regarding our healthcare business, and believe this preliminary interest shows that there is awareness of our strength and attractive qualities in SurgiCount's business model. We think that this interest, coupled with growing traction for our products during product evaluation trials at hospitals across the country, and compelling growth opportunities in the patient safety markets at large, makes this an ideal time to explore our options," said SurgiCount Medical Chairman and CEO, Bill Adams. In making the announcement, PST stated that there can be no assurance that the exploration of strategic alternatives will result in a transaction. The Company does not currently intend to disclose developments with respect to the exploration of strategic alternatives unless and until its Board of Directors has approved a specific transaction and events warrant. About SurgiCount and the Safety-Sponge System SurgiCount Medical's Safety-Sponge System works much like a grocery store check-out system. Every surgical sponge and towel is pre-labeled by the manufacturer with an individual and unique bar coded label, and a scanning counter is used to read and record the labels. No change is required in a hospital's established counting procedures: sponges are counted and recorded by the system at the beginning of the procedure and again as they are removed from the patient. For more information, visit www.surgicountmedical.com. About Patient Safety Technologies, Inc. Patient Safety Technologies, Inc. (PST) is a holding company that owns assets in various businesses. Its wholly-owned subsidiary, SurgiCount Medical, Inc., is a developer and manufacturer of patient safety products and services. For more information on Patient Safety Technologies, Inc., please contact the company directly at 310-895-7750, or by email at info@patientsafetytechnologies.com or www.patientsafetytechnologies.com. Forward-Looking Statements This press release contains certain forward-looking statements. These forward-looking statements can generally be identified as such because the context of the statement will include words such as Patient Safety Technologies plans, expects, should, believes, anticipates or words of similar import. Stockholders, potential investors and other readers are cautioned that these forward-looking statements are predictions based only on current information and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by the forward-looking statements. Certain of those risks and uncertainties are discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K and quarterly reports on Form 10-Q. These forward-looking statements are only made as of the date of this press release and Patient Safety Technologies does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.