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CONTINUING GROWTH AND RECORD PROFIT

Medical Developments International Limited. (“MDI”) (ASX:MVP) delivered a Record Net Profit After Tax of $2,704,024 for the year ended 30 June 2012, which represents a 55% increase on FY2011 ($1,743,270).  MDI finished the year with $3.5 million of cash reserves after paying $2.7 million on clinical trials and two 3 cent fully-franked dividends during the year. The Board has declared a further 3 cent dividend for FY13.

The financial result represents:

• 52% increase in Earnings Before Interest and Tax
• 50% increase in Earnings Per Share
• 40% improvement in Net Profit margin
• 24% growth in Asthma Medical Devices sales
• 247% growth in International Asthma Device sales
• 20% growth in International Penthrox^® business
• 11% growth in sales for the full year
• 19% growth in sales for the second half year

KEY ACHIEVEMENTS

• MDI paid fully-franked dividends totaling 6 cents per share.
• In August 2012 completed enrolment of 300 patients in MDI’s Phase III Clinical Trial in Europe.
• Post balance date completed enrolment of a 250 patient colonoscopy study at Royal   Adelaide Hospital. Good progress of other pivotal clinical trials in Iran and Brisbane.
• Signed exclusive Licence Agreement with Nippon Zoki to register and sell Penthrox^® in Japan.
• Launched a new range of Asthma space chambers nationally and internationally.
• Signed exclusive distribution agreement with R Cegla GmbH & Co. in Germany to supply MDI’s range of space chambers in Germany.
• Won international tender to exclusively supply New Zealand Government for three years with MDI’s range of space chambers.
• Completed independent trial at University of Western Australia on MDI’s new space chambers confirming “best practice”.
• Lodged a 510(k)application to allow the sale of MDI asthma spacers in the US.
• Penthrox^® sales grew by 6% and launched new Penthrox^® Inhaler.
• Appointed new distributors and restructured our Penthrox^® in “Doctor’s Bag” business which grew 38%.
• Signed agreement with CSIRO to develop an improved Methoxyflurane production process.
• Ongoing success and focus on improvements in manufacturing efficiency with 6% improvement in operating costs to sales.
• Established first European officewith Asthma Business Development executive.

Dividend

The Board of Directors is pleased to declare a Final Dividend of 3 cents per share fully-franked. 

MDI intends to make its Dividend Reinvestment Plan available for shareholders to use the proceeds from the Final Dividend to purchase MDI shares at a fixed price of $1.10 per share.

The timetable for the Final Dividend for the year ended 30 June 2012 is:

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