PST ProShares UltraShort Lehman 7 10 Year Treasury

Patient Safety Technologies, Inc. (AMEX:PST) announced today that on January 7, 2006, its Board of Directors approved the appointment of Arnold Spangler as Board Director, replacing outgoing CEO and Director, Milton "Todd" Ault III. Mr. Spangler has over thirty years' experience as a successful private equity investor and investment banker. Until recently, he was Managing Director of Mancuso & Co., a New York-based merchant banking and private equity firm. Previously, as Partner at Lazard Freres & Co. and subsequently as head of global M&A for PaineWebber, he managed M&As, IPOs and other equity financings. He has served on the boards of numerous companies including Life Fitness Co., Sports Holding Corp., Wayne-Tex Inc., Hedwin Corp., and publicly traded, healthcare distribution company, Syncor International Corp., which was ultimately merged into Cardinal Health. He received his MBA from Harvard Business School and BS in Economics from Iowa State University. "Arnold's proven capabilities in healthcare distribution will help guide the introduction of PST's healthcare products to the healthcare provider market," commented Dr. Louis Glazer, PST Chairman and CEO. "We're pleased he chose to join us in our effort to effect the elevation of patient safety standards worldwide." About Patient Safety Technologies, Inc. Patient Safety Technologies, Inc. (PST) is a holding company that owns assets in various businesses. Its wholly owned subsidiary, SurgiCount Medical, Inc., is a developer and manufacturer of patient safety products and services. SurgiCount concentrates on surgical safety to support its patient safety device, the Safety-Sponge(TM) System. The Safety-Sponge System 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 "plans," "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 our filings with the Securities and Exchange Commission, including our 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.