PST ProShares UltraShort Lehman 7 10 Year Treasury

Patient Safety Technologies Refinances to Cure $1.25 Million Loan Default and to Secure New Debt Financing Patient Safety Technologies, Inc. (AMEX:PST) announced today that it secured new financing last week and cured the Notice of Foreclosure from a previous creditor. The Company reached an agreement with an outside, major New York-based real estate developer, Steven Caspi and CASPI Development LLC, www.caspidevelopment.com, and has entered into discussions to re-structure all outstanding debt in full. PST will announce more detail soon regarding this new restructuring regarding Mr. Caspi and CASPI Development. "This agreement with CASPI Development and Steven Caspi represents a major milestone in the Company's long-term plans for SurgiCount Medical and other assets," said Milton "Todd" Ault III, CEO of PST, "and we're extremely excited about our future growth and Mr. Caspi's involvement." About Patient Safety Technologies, Inc. Patient Safety Technologies operates as a holding company with separate operating business and separate CEOs running each business. The flagship of those businesses is SurgiCount Medical, Inc. PST also wholly owns Automotive Services Group, Inc along with many minority investments in public and private companies. There are also various pieces of real estate in PST's portfolio. 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 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 the Company does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.