MACH7 TECHNOLOGIES LIMITED — Capital/Financing Update 2008

Mar 30, 2008

®

31[st] March 2008

General Manager The Company Announcements Office Australian Stock Exchange Limited Australia Square Sydney NSW 1215

Health Department approval for SafetyMed to increase NDSS product range brings access to potential annual market of 70million units .

Safety Medical Products Limited ( SafetyMed , ASX code SFP) is pleased to announce that it has received formal approval from The Federal Department of Health and Ageing to expand the range of products that it offers under the National Diabetes Services Scheme ( NDSS ).

The approval will allow the company to supply its recently TGA-certified insulin pen needles under the scheme where approximately 58 million pen needles were distributed through the NDSS in 2007.

The pen needles are manufactured by SafetyMed’s strategic partner in the United States, Exel International and will be supplied to the company under Exel’s Comfort Point™ Brand. SafetyMed will market the needles along with the company’s SecureTouch™ Retractable syringes. Availability of the needles will commence in June 2008.

The approval opens up a huge new market opportunity for SafetyMed. The aggregate size of the syringe and pen needle market through the NDSS is approximately 70 million units per annum, representing a total market size of over $9.0 million in annual revenues.

This follows the recent announcement on 19[th] February, when SafetyMed told the ASX that it was the first company ever to receive approval to supply retractable syringes (i.e. the Company’s flagship SecureTouch™ retractable syringes) under the NDSS. Approximately 12 million standard insulin syringes were distributed through the NDSS in 2007.

SafetyMed, being the only Australian company approved to supply sharps to the NDSS, will now be able to bundle, promote and market a range of products led by the company’s flagship SecureTouch™retractable syringe with even greater revenue generating potential.

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Safety Medical Products Limited

25 Fenden Road, Salisbury Plain, South Australia Australia, 5109 ACN 007 817 192 Phone: (08) 8285 5226 Fax: (08) 8285 3228 Email: info@safetymed.com.au Website: www.safetymed.com.au

ASX Code: SFP SafetyMed® is a registered trademark of Safety Medical Products Ltd

The NDSS is a Federal Government initiative administered by Diabetes Australia and supported by the various State and Territory Governments. Under the scheme, registered people with diabetes can access free needles and syringes that are fully funded by State and Federal Governments.

Capital raising update

As announced to the ASX on 20[th] February 2008, the Company is currently raising capital through a convertible note issue to ‘sophisticated investors’ (as defined under the Corporations Act).

Funds raised will assist the company into full-scale production and marketing of it’s products as well as increasing the size and range of its SecureTouch™Retractable Syringes. Directors and related parties will seek shareholder approval to participate in the issue at a special general meeting to be held on Friday 18[th] April 2008.

The company has so far received expressions of interest for more than $800,000 and expects further interest in the offering in light of recent commercial developments. A successful capital raising would place the company in a good position to promote the advantages of its’ product range through the NDSS and other markets.

SafetyMed’s two subsidiaries, Bagot Press and Procontrol Systems continue to perform strongly. These contributions along with expected market penetration of the company’s SecureTouch™Retractable Syringes, Insulin Pen Needles and other products over coming months will place the company in a strong position to achieve an expected cash flow positive trading position by the end of the 2008 calendar year.

Yours faithfully,

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John Riemelmoser Managing Director

For further information please contact: Mr. John Riemelmoser Mr. Duncan Gordon Managing Director Investor Relations Safety Medical Products Limited Adelaide Equity Partners Limited Ph. 08 8285 5226 Ph. 08 8232 8800

About Safety Medical Products Limited

SafetyMed is a Company focused on developing and marketing a unique range of Safety Products, led by its flagship SecureTouch™retractable syringe. Expected sales growth of the SecureTouch™in various health related markets, including Government Sponsored Programs such as the National Diabetes Services Scheme (NDSS), will see the company expand its range and capacity leading to strong bottom line growth throughout 2008.

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