SOURCE: Palco Labs, Inc.

May 25, 2005 07:30 ET

Palco Labs Names Jeffery A. Smith Chief Executive Officer

SANTA CRUZ, CA -- (MARKET WIRE) -- May 25, 2005 -- Palco Labs, Inc., a leading manufacturer of lancing, assistive and sensing medical devices, today announced the appointment of Jeffery A. Smith as CEO, succeeding Paul A. Levin, M.D., who will remain on the Board of Directors for the company.

"Jeff Smith brings a wealth of expertise in corporate vision, fiscal responsibility and operations management to Palco Labs," said Dr. Paul Levin, Palco Labs' founding president. "Jeff's background in medical device manufacturing and automation are a huge addition to Palco. His leadership and vision will help guide us as we develop new products and seek new market opportunities."

"Palco Labs is in an enviable market position with proven and mature products such as its globally distributed auto-Lancet™ lancing device," said Jeff Smith. "I am excited to join the company as it launches a new disposable lancing device and continues to build market leadership in the manufacture of products designed to assist healthcare patients worldwide."

Prior to joining Palco Labs, Jeff Smith was President and COO of Directed Light, a leading laser contract manufacturer and distributor of laser components based in San Jose, California. He has more than 20 years of corporate, engineering and financial management experience at companies such as HMT Technology, Hewlett-Packard and Intelledex, a robot and automation company, where he was one of the founders and led the Automation Technology Division to profitability. Jeff has a M.S. and a B.S. of Mechanical Engineering from Oregon State University and a M.B.A. from Birmingham University.

About Palco Labs, Inc.

Palco Labs, Inc. designs and manufactures world-class medical device products for distribution in more than 40 countries. Founded in 1979, Palco Labs is known for its quality standards and innovative medical products for Lancing, Assistive and Sensing requirements. Palco Labs has sold more than 50 million lancing devices, and continues to manufacture them today for leading healthcare companies around the world -- a testament to the durability and quality of its products. Palco Labs is privately owned and is based in Santa Cruz, California. Additional information can be found at www.palcolabs.com.

auto-Lancet is a trademark of Palco Labs, Inc. All other trademarks are the property of their respective owners.

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