SOURCE: Tulip BioMed, Inc.

March 15, 2007 17:12 ET

/ CORRECTION - Tulip BioMed, Inc.

SAN DIEGO, CA -- (MARKET WIRE) -- March 15, 2007 -- In the news release, "Industry Leader John Johnson Joins Tulip BioMed Team," issued Wednesday, March 14, 2007, by Tulip BioMed, Inc. (PINKSHEETS: TPBD), we are advised by the company that the first sentence of the tenth paragraph should read "Mr. Soper has over 30 years of experience in entrepreneurial business" rather than "Mr. Soper has over 30 years of experience in entrepreneurial business, as well as a lengthy career as a business attorney" as originally issued. Also, the second sentence of the tenth paragraph "Mr. Soper currently does not practice as an attorney" has been removed. Complete corrected text follows.

Industry Leader John Johnson Joins Tulip BioMed Team

SAN DIEGO, CA -- March 14, 2007 -- Tulip BioMed™, Inc. (PINKSHEETS: TPBD), a developer of medical devices and patented technologies for the living tissue markets, including plastic, cosmetic, and orthopedic surgeries, today announced that it has appointed John M. Johnson as both chief executive officer and chairman of the Board of Directors.

Mr. Johnson is the inventor of the company's patented Tulip® system, CellFriendly™ technology, the Tulip SuperLuerLok™, the Johnnie Lok™ (a universal syringe lock), as well as various other patents and technologies. Mr. Johnson has over 30 years of experience in research and development as well as management positions with several founding technology companies in the plastic, cosmetic and medical devices industries. Mr. Johnson is also the founder of Tulip Medical Products, a leading manufacturer of reusable cannula products which utilizes the CellFriendly™ technology. Tulip's CellFriendly™ products are considered the "gold standard" by many medical professionals in the reusable market. Since 1998, Mr. Johnson has served as the president of Black Tie Medical, Inc., d/b/a Tulip Medical Products, a leader in the reusable cannula market.

Mr. Johnson has been a pioneer in the medical devices industry since the late 1960s. Mr. Johnson co-founded Wells Johnson Company in 1984, which became one of the first device manufacturers in the liposuction market. Mr. Johnson's innovative instruments, machines and post-op garment designs are still sold today by Wells Johnson. Mr. Johnson is considered by some medical professionals to be the innovator of many cannula designs used in hundreds of thousands of procedures today.

Medical industry professionals have regularly called upon Mr. Johnson's expertise for the development of instruments to meet their special and unique needs. Mr. Johnson's long history of innovative development of new products spans over 30 years. Among other products and procedures, Mr. Johnson has helped to develop aspiration devices used in liposuction, the patented Tulip syringe system, the SuperLuerlok, and the patent pending application of the revolutionary hydrophilic coating to both inner and outer diameters of stainless steel for protection of tissue at the cellular level. Mr. Johnson's advanced solutions to surgical problems have significantly enhanced the quality of devices used in the medical profession.

Mr. Johnson, while in the 101st Airborne Division, attended Austin Peay State College then California Polytechnic University at Pomona as well as two years of graduate level study in theology at the Concordant Study Group in Los Angeles.

Mr. Johnson replaces Marc Pilkington, the company's former chief executive officer, as well as Darin Anderson, the company's former chief operating officer and president, both of whom resigned as officers and directors of the company. J. Harlow Wright also resigned from the company's board. Over the next year, the company intends to add new members to the management team, as needed.

Other recent management changes include the appointments of Mr. John Baldwin and Mr. Barry Soper as new members of the Board of Directors.

Mr. Baldwin has over 30 years of experience in business as well. From 1971 until the present, Mr. Baldwin has been the president of Baldwin Pacific Group, which develops and manages numerous manufactured housing communities, mobile home parks, and other commercial real estate throughout Southern California.

Mr. Baldwin has been nationally recognized for his contributions to the manufactured housing community. Mr. Baldwin's manufactured housing community and other real estate projects have spanned throughout the Western United States. Mr. Baldwin has been active in the manufactured housing community and multifamily residential building industry since 1971. The California State Legislature, San Diego County Board of Supervisors and San Diego City Council have all honored Mr. Baldwin with recognition for his many contributions to the housing industry. In 2003, Mr. Baldwin was honored by the State of California's Western Manufactured Housing Communities Association (WMA) as that year's recipient of the W. Craig Biddle Award for his "dedication, leadership, and contribution to the manufactured housing community." Mr. Baldwin also received the 1999-2000 President's Award by the WMA. Baldwin's professional activities with the WMA include having served as statewide president, as a member of the board and as Unit-6 vice-president. Mr. Baldwin has been a trustee of the WMA's Political Action Committee and vice chair, Administration/Finance of the Committee to Save Property Rights. WMA is the largest state wide property owners group of its kind. Mr. Baldwin is currently a member of the San Diego City Mobile Home Community Issues Committee and San Diego County's Mobile Home Issues Committee. Mr. Baldwin's other past community leadership positions include serving as a director of the San Diego County Taxpayers Association, director of the University of California San Diego-Friends of the Library, director of the San Diego Foundation for the Performing Arts, director of Los Niños, and as a major contributor to Mother Teresa's missions in Mexico and numerous other civic organizations.

Mr. Soper has over 30 years of experience in entrepreneurial business. Since 2005, Mr. Soper has been a member of the board of directors of the Oak Grove Institute, a nonprofit organization that provides 24-hour educational and residential treatment to children with a variety of psychological, social, emotional, behavioral, medical and neurological problems. From 1986 to 1993, Mr. Soper acted as a member of the board of directors of the St. Vincent de Paul Society of San Diego. Mr. Soper attended the University of Bridgeport where he received his bachelor's degree in Business Administration. Mr. Soper obtained his juris doctorate degree from Cabrillo Pacific University, San Diego, California.

About Tulip BioMed, Inc.

Tulip BioMed, Inc. (PINKSHEETS: TPBD), a Nevada corporation, has its operations based in San Diego, California. Founded in 2004, Tulip BioMed, Inc. is a medical devices company that manufactures and distributes patented technologies for the living tissue markets, including plastic and cosmetic surgery, biopsy, orthopedic surgery, and stem cell therapy. Tulip BioMed, Inc. is the exclusive licensee of patented syringe connection devices that use the worldwide recognized "Tulip" brand name. Tulip BioMed, Inc. manufactures, markets, and distributes medical devices, adapted with these and other patented technologies, to physicians, clinics, military, health organizations, hospitals and other distribution outlets. For more information go to: www.tulipbiomed.com. Products are available for sale at www.tulipdisposable.com.

Safe Harbor: This press release contains certain forward-looking information about Tulip BioMed, Inc., which is intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Words such as "expect(s)," "feel(s)," "believe(s)," "will," "may," "anticipate(s)," and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, financial projections and estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to future operations, products and services; and statements regarding future performance. Such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of Tulip BioMed, Inc., that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include: our lack of operating revenue and earnings history, our need for additional capital to pursue our business strategy. We are a non-reporting company and as such do not make periodic filings with the Securities and Exchange Commission. We trade on the Pink Sheets and there can be no assurances that a liquid market will develop in our securities. Readers are cautioned not to place undue reliance on these forward-looking statements. Tulip BioMed, Inc. does not undertake any obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

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