7043 South 300 West
Midvale, Utah 84047
Telephone: 801-566-1200
FAX: 801-566-2062
NYSE Symbol: UM

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Utah Medical Announces Tender Offer for 10% of Its Shares
May 26, 1999

Contact: Paul Richins
(801) 566-1200

Salt Lake City, Utah - Utah Medical Products, Inc. (NYSE:UM) announces that it will repurchase at a price of $8.00 per share at least 800,000 of its shares, if tendered and not withdrawn by shareholders on or before July 9.

The $8.00 per share price represents about a 25% premium over the average price of the stock during the last six months, and is equal to the highest trading price during the last 12 months.

According to Chairman & CEO Kevin Cornwell, "UM’s performance has been steadily improving, but its share price has remained grossly undervalued. Because of the Company’s excellent performance, UM can afford to make an investment that will not only give investors who are tired of the low share price an opportunity to sell their shares at a premium over the current price, but also by antidilution, substantially enhances the value of remaining shares held by shareholders who are more patient and confident in the Company’s future. Selling shareholders will have the added benefit of avoiding brokerage commissions and odd lot fees.

I would like to be clear that UM’s board of directors does not recommend that shareholders take advantage of this offer because we believe the stock is still grossly undervalued at $8.00 per share. Even after making the share repurchase investment, UM’s anticipated financial performance and credit facility are adequate to fund planned internal new product development and continue an acquisition program similar to the Columbia Medical and Gesco acquisitions completed during the last two years.

Looking backwards, for the last twelve years UM has been able to grow at an annually compounded rate in sales of 14% per year, and earnings per share of 24% per year, including some substantial disappointments and significant competition. Going forward, I believe that UM has opportunities to continue to improve its performance, but I understand that the stock market, and in particular the institutional investors who today seem to be driving values in the stock market, may not recognize UM’s fair value. Therefore, the board of directors is offering UM’s shareholders who feel they have better investment alternatives a favorable opportunity to make a change."

Investors are cautioned that this press release contains forward looking statements and that actual activities or results may differ from those projected. Risks factors that could cause results to differ materially from those projected include UM’s ability to competitively develop, manufacture, market, and sell its products, market acceptance of new and/or competitive products, timing of regulatory approval of new products, among other factors that have been outlined in UM’s public disclosure filings with the SEC. The SEC Form 13E-4 associated with the tender offer will be mailed to shareholders about June 1.

Utah Medical Products, Inc., with particular interest in healthcare for women and their babies, develops, manufactures, assembles and markets a broad range of disposable and reusable specialty medical devices designed for better health outcomes for patients and their care-providers.