Series C Preferred by EarlyStates


									 Medical Simulation Corp. Raises $5 Million in Series C Preferred Financing for National
                                Expansion of SimSuite
            MSC Also Announces Two New Members to Its Board of Directors

ENGLEWOOD, CO., (February 13, 2002) – Medical Simulation Corp. (MSC), a Colorado-
based simulation technology company, announced today that it is currently over subscribed 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 Corporation. “With the Series C financing completed,
the proceeds will accelerate our impending national market launch of SimSuite™ Training
Centers and help to shift the company’s focus from product development into commercial roll-
out and market expansion,” Younkes said.

The company’s first SimS uite Center is located at University of Colorado Hospital within the
Colorado Health Sciences Center in Denver, Colorado 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 Corporation, 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.

                                            - more -
Mr. Jim Hirschmann joins MSC’s Board of Directors with substantial success in financial
markets and strategic operational growth. As Chief Executive Officer 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 Corporation,
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 William E.
Younkes. “Their combined business success and visibility in the medical industry investment
community will immediately contribute to the company’s strategic market expansion success,”
Younkes said.


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