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Patient Safety Technologies, Inc. (AMEX:PST) announced today that its Board of Directors has approved the divestiture of the Company's non-healthcare assets to allow the Company to focus on its patient safety related assets through SurgiCount Medical and opportunities in the healthcare sector. The Company had previously acquired assets in the digital media, financial services and real estate sectors when it operated as Franklin Capital, a Business Development Company. "This decision by our Board of Directors will allow us to focus on our promising patient safety business, which has made great strides recently in commercializing its Safety-Sponge(TM), retained surgical sponge incident reducing system,'' said Milton ``Todd'' Ault III, PST's Chairman and CEO. ``The growth opportunities at both SurgiCount and in related healthcare areas are so compelling that we want to deploy all of our resources toward these efforts. The recent announcement by Digicorp underscores the great value that is inherent in PST's non-core assets, and in the coming months we will take initiatives to monetize this value through a series of transactions.'' Recently, Digicorp entered into a Letter of Intent to acquire Rebel Crew Films, Inc., a Los Angeles-based film licensing and distribution company, owned and founded by Jay Rifkin and Cesar Chatel. Rifkin brings more than 20 years of experience building successful media and interactive marketing companies, including Mojo Records, a joint venture with Universal Records that was ultimately sold to Zomba/BMG; Media Ventures, a creative entertainment cooperative that became an industry-leading source for original film and television music; and, Media Revolution, a cutting edge developer of advanced, integrated consumer marketing solutions whose clients include Sony, Warner Bros., Universal, and Twentieth Century Fox. Patient Safety Technologies, Inc. (PST) is a developer and manufacturer of patient safety products and services, working toward becoming the leader in the patient safety sector. Headquartered in Santa Monica, California, the company's flagship product is its Safety-Sponge(TM) System, which helps in reducing the number of retained sponges and towels in patients during surgical procedures and allows for faster and more accurate counting of surgical sponges. For more information on Patient Safety Technologies, Inc., please contact the company directly at (310) 752-1416, or by email at info@patientsafetytechnologies.com or http://www.patientsafetytechnologies.com. Forward-Looking Statements This press release contains certain forward-looking statements. These forward-looking statements can generally be identified as such because the context of the statement will include words such as Patient Safety Technologies ``expects,'' ``should,'' ``believes,'' ``anticipates'' or words of similar import. Stockholders, potential investors and other readers are cautioned that these forward-looking statements are predictions based only on current information and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by the forward-looking statements. Certain of those risks and uncertainties are discussed in the Patient Safety Technologies filings with the Securities and Exchange Commission, including Patient Safety Technologies annual report on Form 10-K and quarterly reports on Form 10-Q. These forward-looking statements are only made as of the date of this press release and Patient Safety Technologies does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.