SANTA MONICA, Calif., April 22, 2005 (PRIMEZONE) -- Patient Safety Technologies, Inc. (AMEX:PST) announced today that it has decided not to proceed with a tender offer to acquire a controlling interest in Arizona Land Income Corp. (AMEX:AZL). This decision was based on further communication with the AZL board of directors and an internal review of the opportunity.
Patient Safety Technologies, Inc. ("PST") is a developer, manufacturer and content provider of patient safety products and services, working toward becoming the leader in the patient safety sector. Headquartered in Santa Monica, California, PST is assembling a world-class Advisory Board of leading patient safety experts. The company is concentrating on surgical safety to support its newly acquired subsidiary, SurgiCount Medical, Inc., a developer of patient safety devices. SurgiCount features the Safety-Sponge(tm) System, which allows for faster and more accurate counting of surgical sponges. For more information on Patient Safety Technologies, Inc., please contact the company directly at (310) 752-1416, 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 "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 the Patient Safety Technologies filings with the Securities and Exchange Commission, including Patient Safety Technologies 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.