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June 30, 2004

FOR IMMEDIATE RELEASE
Contact: Tabitha Cooper
Tabitha.Cooper@paragonmedical.com
574-594-2140 ext.247

PARAGON MEDICAL TWICE HONORED FOR INNOVATION, TECHNOLOGY AND ENTREPRENEURSHIP

Warsaw, Ind. – Paragon Medical, Inc. capped a record year of global expansion and sales growth with recent wins in two major Indiana awards programs. On June 10, Paragon’s co-founder and chairman, Tobias Buck, was named the 2004 Ernst & Young Entrepreneur of the Year in the Life Sciences category. This honor -- designed to celebrate the vision, leadership and achievement of Indiana’s outstanding entrepreneurs -- was awarded to Buck with a nod to the success and continued potential of Paragon.

Paragon also was honored in May with a 2004 Mira Award recognizing the state’s best and brightest innovators in technology-related industries. Mira Awards, given by the non-profit technology advocacy group, TechPoint, specifically noted Paragon’s contribution to Indiana’s economy, its global recognition and the improvements it has made to quality of life in Indiana.

Both awards come on the heels of a year marked by major milestones for this growing company that include:

- Selection as a preferred supplier by several major orthopedics manufacturers seeking to streamline their global supply chain.
- Opening an office in Germany to better provide engineering and sales technical support to European customers.
- Achieving record quarters for sales and profit in the first half of 2004.
- Preparing to expand into a multi-facility campus

“The global opportunities within the orthopedics marketplace are growing significantly,” explains Buck. “We have the people and the systems in place to embrace them.” He adds, “The key to our success is our people and culture of common objectives and collective support.”

Paragon Medical, Inc. designs, manufactures and delivers medical devices, including instruments, trials and implantable components for the global surgical instrument marketplace. It also designs, manufactures and delivers custom or standard cases and trays to organize, store and safely deliver surgical sets to the operating room theater. Incorporated in 1991, it employs approximately 250 people with facilities in Pierceton, Ind.; Memphis, Tenn. and Freiburg, Germany.