EPMD EP Medsystems (MM)

EP MedSystems, Inc. (Nasdaq: EPMD), today announced that its Board of Directors had terminated Reinhard Schmidt's employment as its President, Chief Executive Officer and Chief Operating Officer for cause. Mr. Schmidt's employment agreement provides that his position as a Director of the Company ceases upon the termination of his employment. David Jenkins, age 47, founder of EP MedSystems and its Chairman, has been appointed by the Board of Directors to serve as the Company's President, Chief Executive Officer and Chief Operating Officer. Mr. Jenkins previously served as Chief Executive Officer of EP MedSystems from its inception in 1993 until August 2002. Mr. Jenkins also served as President of the Company from its inception in 1993 until August 2001. From 2002, Mr. Jenkins served as Chief Executive officer of Transneuronix, Inc., a privately-held company engaged in the development and marketing of an implantable stomach pacemaker device to treat obesity until its sale to Medtronic earlier this year. About EP MedSystems: EP MedSystems develops and markets cardiac electrophysiology ("EP") products used to diagnose and treat certain cardiac rhythm disorders. The Company's EP product line includes the EP-WorkMate(R) Electrophysiology Workstation with RPM(TM) Real-time Position Management(TM) navigation technology, the EP-4(TM) Computerized Cardiac Stimulator, fixed and deflectable diagnostic electrophysiology catheters and related disposable supplies, the ALERT(R) System and ALERT family of internal cardioversion catheters, and the ViewMate(R) intracardiac ultrasound catheter imaging. For more information, visit our Website at www.epmedsystems.com. Forward Looking Statements: This Release may contain certain statements of a forward-looking nature relating to future events or the future financial performance of the Company. Forward-looking statements include information concerning our possible or assumed future results of operations and statements preceded by, followed by or including the words "believes", "expects", "anticipates", "intends", "plans", "estimates", "see opportunities" or similar expressions. Such forward-looking statements are based on our management's beliefs and assumptions and on information currently available to our management. Such forward-looking statements are only predictions and are subject to risks and uncertainties that could cause actual results or events to differ materially and adversely from the events discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, EP MedSystems' history of losses, uncertainty of market acceptance of our products and level of sales, uncertainty of future profitability and future liquidity needs, possible costs, fines or penalties that may be incurred in connection with government inquiries and investigations and risks regarding regulatory approvals and demand for new and existing products, as stated in the Company's Annual Report filed on Form 10-KSB and quarterly reports filed on Form 10-Q and 10-QSB. EP MedSystems cautions investors and others to review the cautionary statements set forth in this press release and in EP MedSystems' reports filed with the Securities and Exchange Commission and cautions that other factors may prove to be important in affecting the EP MedSystems' business and results of operations. Readers are cautioned not to place undue reliance on this press release and other forward-looking statements, which speak only as of the date of this release. EP MedSystems undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date of this report or to reflect the occurrence of unanticipated events.