MedicalCV Announces Retention of ROI Group Associates, Inc. as Its Investor Relations Firm MINNEAPOLIS, Jan. 31 /PRNewswire-FirstCall/ -- MedicalCV, Inc. (OTC Bulletin: MDCV), http://www.medcvinc.com/ , a cardiovascular surgery device manufacturer, focusing on surgical needs surrounding atrial fibrillation ("AF"), announced today that it has retained ROI Group Associates, Inc., http://www.roiny.com/ , of New York, as its investor relations firm. In announcing the initiative, Marc P. Flores, President and Chief Executive Officer of MedicalCV, Inc. said, "As we expand beyond the mechanical heart valve business, our objective is to reach out to a wide audience, thereby increasing the visibility and awareness of MedicalCV in the investment community. We have retained ROI Group Associates to implement our continuing investor relations. We believe that there are so many exciting and innovative developments within the AF market and that this is the right time for MedicalCV to become a recognized player in the industry." He continued, "We believe that MedicalCV's core business of manufacturing cardiovascular surgery devices, specifically the Company's ATRILAZE(TM) Surgical Ablation System, which is focused on surgical needs surrounding cardiac tissue ablation, is in its infancy and rapidly gaining traction. Industry estimates of expenditures in the AF market, for a minimally invasive, closed-chest, beating heart AF stand-alone procedure, are expected to reach $1.5 billion in annual revenues by 2008, according to Health Research International's October 2002 market report." Earlier this week, the Company announced a successful completion of its first U.S. clinical case using the AtriLaze(TM) surgical ablation system in open-heart surgery. This surgery represents a further milestone in the Company's goal of providing a better treatment solution for ablating cardiac tissue. Two cardiothoracic surgeons at leading hospitals in Texas have used the AtriLaze(TM) system for cardiac tissue ablation during the past week and have indicated that they will be incorporating the technology into future surgical procedures. Mr. Flores continued, "With all of these growth opportunities we have identified in our business, and milestones that management is focused on, we believe it is the appropriate time to improve our communications with the financial community. ROI Group Associates has considerable experience in implementing investor relations strategies in order to maximize shareholder value. Additionally, they will work to strengthen our position with our existing investor base. We believe that the increased visibility will enhance our opportunities for new business for future growth," he concluded. About MedicalCV, Inc. MedicalCV, Inc., a cardiovascular surgery device manufacturer, focuses on the design, development and commercialization of new, improved and enhanced technologies, products, methods and techniques to treat cardiovascular disorders and disease, including products targeting the treatment of atrial fibrillation ("AF"). Historically, MedicalCV developed and marketed Omnicarbon(R) mechanical heart valves utilizing its proprietary pyrolytic carbon processes. Although the Company has ceased manufacturing new heart valves it continues to maintain the mechanical heart valve business, supporting customers and distributors during the divestiture process. The Company is concentrating its resources on the AF market. The Company's core technology is the AtriLaze(TM) surgical ablation system, for use in cardiac tissue ablation in surgery, which the Company acquired on August 27, 2003 and for which it received FDA 510(k) clearance on November 30, 2004. The Company's common stock is traded on the OTC Bulletin Board under the symbol "MDCV." For further information on MedicalCV, Inc., please visit http://www.medcvinc.com/ . You may register to receive MedicalCV's future press releases and to be added to the Company's distribution list by visiting: http://www.roiny.com/form.php . This release contains certain forward-looking statements of expected future developments, as defined in the Private Securities Litigation Reform Act of 1995. The forward-looking statements in this release refer to our expectations regarding enhanced visibility for our Company, developments within the AF market, market acceptance of our AtriLaze(TM) surgical ablation system, market estimates for the AF market and enhanced business opportunities for our Company. These forward-looking statements reflect management's expectations and are based on currently available data; however, actual results are subject to future risks and uncertainties, which could materially affect actual performance. Risks and uncertainties that could affect such performance include, but are not limited to, the following: the Company's ability to fund significant capital needs; market acceptance in the U.S. of the Company's cardiovascular products; acceptance of minimally invasive techniques for the reduction of atrial fibrillation through surgical cardiac tissue ablation; potential reductions in pricing by competitors; the costs of licensing and acquiring new products and technologies; the time and costs involved in obtaining regulatory clearance for cardiovascular products; competing technological and market developments; surgeon acceptance of the Company's cardiovascular products; dependence upon governmental reimbursements and third party suppliers; and the strength of the market for cardiovascular products. For more detailed information about these risks and uncertainties, please review the Company's SEC filing on Form 8-K filed January 6, 2005. These events and uncertainties are difficult or impossible to predict accurately and many are beyond the Company's control. The Company assumes no obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect events or uncertainties after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. DATASOURCE: MedicalCV, Inc. CONTACT: John H. Jungbauer, Vice President, Finance and CFO of MedicalCV, Inc., +1-651-452-3000, , or Investor Relations, Robert Giordano, President, +1-212-495-0200 ext. 10, , or Sarah Shepard, Vice President, +1-212-495-0200 ext. 17, , both of ROI Group Associates, Inc. Web site: http://www.medcvinc.com/ http://www.roiny.com/

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