Patient Safety Technologies' Form 10-Q Filing Delayed

  
    
  
  
    
      Patient Safety Technologies, Inc. (AMEX:PST) announced that it did not 
      file its September 30, 2006 Form 10-Q within the five day extension 
      filing period due to recent events and the engagement of new independent 
      auditors. PST expects that it will file its September 30, 2006 Form 10-Q 
      within the next one to two weeks. The Company references its press 
      release dated November 7, 2006 for further financial guidance.
    
    
      The Company has received notice from the American Stock Exchange (“Amex”) 
      that it is not in compliance with certain additional continued listing 
      standards due to not having filed its Form 10-Q on time for the period 
      ended September 30, 2006.
    
    
      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. For more information on Patient Safety 
      Technologies, Inc., please contact the company directly at 310-895-7750, 
      or by email at [e-mail] 
      or 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.
    
  
Patient Safety Technologies, Inc. (AMEX:PST) announced that it did
not file its September 30, 2006 Form 10-Q within the five day
extension filing period due to recent events and the engagement of new
independent auditors. PST expects that it will file its September 30,
2006 Form 10-Q within the next one to two weeks. The Company
references its press release dated November 7, 2006 for further
financial guidance.

   The Company has received notice from the American Stock Exchange
("Amex") that it is not in compliance with certain additional
continued listing standards due to not having filed its Form 10-Q on
time for the period ended September 30, 2006.

   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. For more information on Patient Safety
Technologies, Inc., please contact the company directly at
310-895-7750, or by email at [e-mail] or
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.