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PSTX - The Ault Glazer Group Makes An Unsolicited Offer to Acquire All Non-Core Assets of Patient Safety Technologies for $4.1 Million
LOS ANGELES, Feb. 23, 2007 (PRIME NEWSWIRE) -- The Ault Glazer Group, Inc. ("Ault Glazer") is a Los Angeles-based private holding company. Ault Glazer issued an unsolicited offer to the Board of Directors of Patient Safety Technologies, Inc. ("PST") (Pink Sheets:PSTX) to purchase all of PST's non-core assets, which consist of real estate and securities, for $4.1 million.

"The purchase of these assets serves two purposes: (1) this asset purchase represents real value for Ault Glazer's existing shareholders and helps launch our growing real estate effort, and (2) the purchase of these non-core assets enables PST's management to focus its efforts solely on its most valuable asset, SurgiCount Medical, Inc.," commented Milton "Todd" Ault, III, the Chairman and Chief Executive Officer of Ault Glazer.

Consummation of this offer may be subject to shareholder approval by both Ault Glazer and PST and is subject to Ault Glazer securing financing to complete such transaction contemplated by such offer.

About The Ault Glazer Group, Inc.

The Ault Glazer Group, Inc. ("Ault Glazer") is a financial services holding company with offices in Los Angeles and New York City, which provides, through its wholly-owned operating subsidiaries, a broad range of asset management, securities, brokerage and trading, merchant and investment banking-related services primarily to individual investors and institutional clients.

Ault Glazer is the parent holding company of Ault Glazer Asset Management LLC ("AGAM"), a California Registered Investment Advisory firm and Ault Glazer & Co. LLC ("AGCO"), a Registered broker-dealer member NASD/SIPC. AGAM provides investment management services principally to managed accounts and private investment funds. AGCO focuses on and provides brokerage and boutique investment banking services to individuals and institutions. AGAM along with AGCO became wholly owned subsidiaries of Ault Glazer in 2005 as part of reorganization into its present holding company structure.

AGAM, which provides investment management services on a discretionary and non-discretionary basis to certain managed accounts and private investment funds, holds securities or warrants or other rights to purchase securities in PST. Reference is hereby made to AGAM's Schedule 13D Amendment No. 12 filed with the Securities and Exchange Commission on January 17, 2007. AGCO also owns securities or warrants or other rights to purchase securities in PST. AGAM disclaims beneficial ownership of these securities, and shall not be deemed an admission that AGAM is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.

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 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 The Ault Glazer Group, Inc. "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. These forward-looking statements are only made as of the date of this press release and The Ault Glazer Group Inc. does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

CONTACT: The Ault Glazer Group, Inc.
Michael Van Patten, Senior Managing Director,
Capital Markets Group
212-572-0786
[e-mail]



Source: PrimeNewswire (February 23, 2007 - 10:56 AM EST)

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