MACH7 TECHNOLOGIES LIMITED — AGM Information 2008

Nov 20, 2008

==> picture [111 x 102] intentionally omitted <==

SAFETY MEDICAL PRODUCTS LIMITED ABN 26 007 817 192

ANNUAL GENERAL MEETING Friday 21[st] November 2008

Chairman’s Address

Dear Fellow Shareholders

This past year has again been very busy one for SafetyMed. Our main achievements for the 2008 Financial Year have been:

• Receiving the Australian (TGA) and European (CE Mark) Certification for Automated Assembly Machine in November;

• Commencing production in fourth quarter of 2007;

• Installing and Commissioning the Multivac Automated Packaging Machine;

• Product range led by SecureTouch Retractables being accepted into National Diabetes Services Scheme (NDSS);

• SecureTouch approved for supply into SA Mental Services;

• Launching the new Insulin Pen Needle Aid following TGA approval; and

• Group revenue of more than $4.8 million generated.

I would like to thank my fellow directors for their contributions, and our shareholders for their continuing support during the year.

Our Managing Director, John Riemelmoser will now present his report for the 2007-08 year and will explain the Company’s achievements and future strategy in more detail.

John Darley Chairman

1 of 1

==> picture [111 x 102] intentionally omitted <==

SAFETY MEDICAL PRODUCTS LIMITED ABN 26 007 817 192

ANNUAL GENERAL MEETING Friday 21[st] November 2008

Managing Director’s Address

Good afternoon Ladies and Gentlemen.

My name is John Riemelmoser and I am the Managing Director of Safety Medical Products Limited.

On behalf of my fellow directors I would like to welcome you to our 2008 AGM.

2007/2008 has been an important year in the company’s history with manufacturing and packaging commencing at the Salisbury facility, sales of the SecureTouch starting through various channels and new products coming on line.

Despite the share price performance which has been extremely disappointing given what has been achieved, I believe we have been able to break ground where others have failed.

In January this year the commissioning of the Multivac Packaging machine was completed which was the final piece in the puzzle to allow for full production capacity and packaging of the 1ml SecureTouch in the accepted format of individual blister packaging.

This was followed soon after by the February announcement of the product being accepted into the National Diabetes Services Scheme (NDSS).

This is the first time that a safety device had been included in the program and made SafetyMed the only Australian Company supplying the program.

The NDSS is a Federal Government initiative supported by the States and administered by Diabetes Australia. Over 70 million syringes and pen needles are sold into the program annually.

In late March the Company received formal approval to increase the range that it sold into the NDSS to include its range of Exel supplied insulin pen needles followed by approval for standard insulin syringes.

This increased the available range to 10 lines and presented a great opportunity for the company to become a major supplier to the NDSS. Sales to date have exceeded 500,000 units and the company continues to market and promote the range nationally.

In April the company announced that it had begun sales to SA Mental Health through their eight facilities. Although volumes are not expected to be huge, it further validates the Company’s direction and quality of product.

1 of 2

SafetyMed continues to pursue avenues to allow for introduction of the SecureTouch into the Federal Government’s Clean Needle Program where more than 35million syringes are distributed to I.V. drug users each year.

This program was the main driver behind the development of the SecureTouch Retractable Syringe in the first place and we strongly believe, as happened with the NDSS, that the SecureTouch will be the first safety device made available to this program.

In July we received TGA certification for our unique pen needle aid that assists people with diabetes as well as health carers with attachment and removal of their insulin pen needles to their insulin pens.

This simple device was designed in house as a result of feedback from diabetes patients and educators and has been very well received.

The company’s two subsidiaries Bagot Press and Procontrol Systems were significant contributors to the overall revenues of more than $4.8 million. Strategies are in place to significantly increase the profitability of the group as a whole.

We have been investigating several opportunities in an active effort to insulate SafetyMed from the world wide economic crisis. Details of these strategies will be revealed when finalised and we firmly believe they will, in conjunction with current products sales growth, be a strong driver of the Company leading into 2009.

I would like to thank our board and all employees across the group for their continued great efforts as well as our shareholders for their continued support.

Thank you all for your interest and attendance today and I will now hand you back to the Chairman to continue with the formal business of the meeting.

John Riemelmoser

Managing Director and Chief Executive Officer

2 of 2