Milestone Scientific Receives Notice of Allowance for Safety Infusion Device.

Business Editors/Health/Medical Writers

LIVINGSTON, N.J.--(BUSINESS WIRE)--Jan. 7, 2004

Milestone Scientific Inc. (AMEX:MS) today announced that the United States Patent Office has granted a Notice of Allowance for broad patent protection on a safety intravenous catheter introduction device. Catheter introducers are widely used in hospitals, ambulatory care centers as well in emergency medicine. This new technology provides an alternative to existing devices for the introduction of catheters that incorporates engineered sharps injury protection features which may aid in the reduction of accidental needlesticks as defined in the Federal Needlestick Safety Act.

Invented by Dr. Mark N. Hochman, Director of Clinical Affairs for Milestone Scientific, this new technology allows practitioners access to veins using a product that can be controlled with a single hand. The introducing needle and flexible catheter can be protracted for use and retracted while not in use. The needle remains retracted until the practitioner protracts it again, allowing multiple attempts to introduce the catheter. The new device, unlike competing devices now on the market, can be used multiple times on the same patient following the failure of a catheter to be properly placed due to patient movement, collapsed veins or other causes.

A registration statement relating to Milestone's common stock and warrants has been filed with the Securities and Exchange Commission but has not become effective. The securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer and sale would be unlawful prior to registration or qualification under the securities laws of any such state. A copy of the prospectus relating to the offering may be obtained by contacting Paulson Investment Company, Inc., S.W. 811 Naito Parkway, Suite 200, Portland, OR 97204, telephone no. 503-243-6000.

Milestone Scientific is the developer, manufacturer and marketer of CompuMed(R) and CompuDent(R) computer controlled local anesthetic delivery systems. These systems comprise a microprocessor controlled drive unit as well as The Wand(R) handpiece, a single patient use product that is held in a pen like manner for injections. In 2001, Milestone Scientific received broad United States patent protection on an enabling technology for computer controlled, pressure sensitive infusion, perfusion, suffusion and aspiration, which provides real time displays of pressures, fluid densities and flow rates, that advances the delivery and removal of a wide array of fluids. In 2002, Milestone Scientific received United States patent protection on a safety engineered sharps technology, which allows for fully automated true single-handed activation with needle anti-deflection and force-reduction capability. In 2003, Milestone received FDA Clearance to market SafetyWand(TM), which incorporates engineered sharps injury protection features to aid in the prevention of accidental needlesticks.

This release contains "forward looking statements" based on current expectations but involving known and unknown risks and uncertainties. Actual results or achievements may be materially different from those expressed or implied. The Company's plans and objectives are based on assumptions involving judgments with respect to future economic, competitive and market conditions, and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of the Company. Therefore, there can be no assurance that the forward-looking statements, including, but not limited to, those relating to the availability of capital pursuant to this facility, will prove to be accurate.