EP MedSystems Announces Joint Development Agreement

EP MedSystems, Inc. (NASDAQ:EPMD - News) and Royal Philips Electronics (NYSE: PHG, AEX:PHI) today announced a multi-platform joint development agreement, as a part of the Companies' broad strategy to provide the most technologically advanced products for the EP physician.

Reinhard Schmidt, President and CEO of EP MedSystems, Inc. commented, "This joint development agreement with Philips Medical Systems, the premier provider of diagnostic ultrasound, radiographic and fluoroscopic equipment for cardiac catheterization suites, is the next step in providing expanded solutions to the EP physician. The initial features and products from this agreement are expected to be shown in the upcoming HRS Scientific Sessions (formally NASPE) in early May. Over time we expect this to provide significant value to the users of our respective product platforms."

Ronald Tabaksblat Vice President & BU Director Electrophysiology, for Philips Medical Systems, said, "We are very pleased with this next step in our collaboration with EP Med Systems. This strongly supports Philips strategy and commitment to provide the market with a fully integrated EP lab solution."

About EP MedSystems:

EP MedSystems develops and markets cardiac electrophysiology ("EP") products used to diagnose and treat certain cardiac rhythm disorders. The Company's EP product line includes the EP-WorkMate® Electrophysiology Workstation with RPM(TM)Real-time Position Management(TM) navigation technology, the EP-4(TM) Computerized Cardiac Stimulator, fixed and deflectable diagnostic electrophysiology catheters and related disposable supplies, the ALERT® System and ALERT family of internal cardioversion catheters, and the ViewMate® intracardiac ultrasound catheter imaging system. For more information, visit our Website at www.epmedsystems.com.

For more information, visit our Website at www.epmedsystems.com.

About Royal Philips Electronics

Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world's biggest electronics companies and Europe's largest, with sales of EUR 30.3 billion in 2004. With activities in the three interlocking domains of healthcare, lifestyle and technology and 161,500 employees in more than 60 countries, it has market leadership positions in medical diagnostic imaging and patient monitoring, color television sets, electric shavers, lighting and silicon system solutions. News from Philips is located at www.philips.com/newscenter.

Forward Looking Statements:

This Release may contain certain statements of a forward-looking nature relating to future events or the future financial performance of the Company. Forward-looking statements include information concerning our possible or assumed future results of operations and statements preceded by, followed by or including the words "believes", "expects", "anticipates", "intends", "plans", "estimates", or similar expressions. Such forward-looking statements are based on our management's beliefs and assumptions and on information currently available to our management. Such forward-looking statements are only predictions and are subject to risks and uncertainties that could cause actual results or events to differ materially and adversely from the events discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, EP MedSystems' history of losses, uncertainty of market acceptance of our products and level of sales, uncertainty of future profitability and future liquidity needs; and risks regarding regulatory approvals and demand for new and existing products, as stated in the Company's Annual Report filed on Form 10-KSB and quarterly reports filed on Form 10-QSB.

EP MedSystems cautions investors and others to review the cautionary statements set forth in this press release and in EP MedSystems' reports filed with the Securities and Exchange Commission and cautions that other factors may prove to be important in affecting the EP MedSystems' business and results of operations. Readers are cautioned not to place undue reliance on this press release and other forward-looking statements, which speak only as of the date of this release. EP MedSystems undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date of this report or to reflect the occurrence of unanticipated events.



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Contact:
For EP MedSystems, Inc.
Matthew C. Hill, 856-753-8533
or
MKR Group, LLC
Charles Messman/Todd Kehrli, 626-395-9500



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