Medical Simulation Corp. Raises $5 Million in Series C Preferred Financing for National Expansion of SimSuite.

Business Editors and Health/Medical Writers

ENGLEWOOD, Colo.--(BW HealthWire)--Feb. 14, 2002

MSC Also Announces Two New Members to Its Board of Directors

Medical Simulation Corp. (MSC), a simulation technology company, announced today that it is currently oversubscribed in its most recent offering of preferred stock, in which it raised $5 million. In addition, the company has announced that it has elected two new members to its Board of Directors.

"We are pleased with the interest we received from our investors in closing this round of financing in the midst of some challenging economic markets," said William E. Younkes, President and CEO of Medical Simulation Corp. "With the Series C financing completed, the proceeds will accelerate our impending national market launch of SimSuite(TM) Training Centers and help to shift the company's focus from product development into commercial roll-out and market expansion."

The company's first SimSuite Center is located at University of Colorado Hospital within the Colorado Health Sciences Center in Denver and the company plans to open eight SimSuite Centers in major medical institutions across the country by the end of 2002. The centers feature a proprietary training system based on MSC's patented tactile-force-feel simulation technology that provides a realistic cath-lab environment for healthcare professionals to practice interventional procedures and to learn new techniques and devices without putting patients at risk.

Adding additional financial expertise and market expansion direction to MSC, the company also announced the election of Gerard Moufflet and Jim Hirschmann to its Board of Directors.

Mr. Gerard Moufflet, who assisted MSC in leading the latest round of financing, brings extensive experience in venture capital management to MSC's Board of Directors. He is currently CEO for Acceleration International Corp., a private equity firm focused on healthcare investments in Europe and the United States. Prior to AIC, Moufflet spent over 12 years directing Advent International's medical industry investments and also served as corporate vice president with Baxter Travenol for 17 years. He is a director for Curative Health Services Inc., and Serologicals Inc. as well as for several privately owned companies. Mr. Moufflet is a graduate of EDHEC (France) and received an MBA from the University of Pittsburgh where he was a Pittsburgh Plate Glass Scholar. He is also a graduate of the Advanced Management Program at Harvard Business School. He is also Chairman of the Board of Fellows of the Harvard Dental School of Medicine.

Mr. Jim Hirschmann joins MSC's Board of Directors with substantial success in financial markets and strategic operational growth. As CEO for Western Asset Management Company, a $100 billion financial asset company, Hirschmann is credited with the company's rapid success since 1989. Prior to joining Western Asset Management, Hirschmann held senior positions with Financial Trust Company, Atlanta/Sosnoff Capital Corp., United States Lines Inc., Qualex Corporation, and Western Savings Bank. Mr. Hirschmann is a graduate of Widener University.

"The election of Mr. Moufflet and Mr. Hirschmann to MSC's Board of Directors is an important step forward for the company in solidifying our broad market positioning," said Younkes. "Their combined business success and visibility in the medical industry investment community will immediately contribute to the company's strategic market expansion success."

About Medical Simulation Corporation:

Founded in 1998, Medical Simulation Corp., based in Englewood, CO, develops, designs, manufactures, and markets a revolutionary interactive training system to healthcare professional worldwide. Combining patented tactile force-feel simulation technology with comprehensive "Process of Care" cognitive learning courseware, the company's SimSuite(TM) Training System provides a state-of-the-art training approach for healthcare professionals to enhance their cognitive learning process while improving their tactile skills in basic and complex medical procedures and techniques. SimSuite(TM) Centers provide a common platform to link healthcare professionals, hospitals, professional societies, medical product manufacturers, and insurance providers to a cost-effective training solution and education network. For more information, visit the MSC web site at www.SimSuiteEd.com.