RETRACTABLE TECHNOLOGIES, INC. REPORTS FIRST QUARTER 2008 SALES OF $5.3

TECHNOLOGIES, INC. REPORTS FIRST QUARTER 2008 SALES OF $5.3 MILLION

LITTLE ELM, Texas, May 15, 2008 Retractable

Technologies, Inc. (AMEX: RVP), a leading maker of safety needle devices,

today reported revenues of $5.3 million for the three months ended March 31,

Domestic sales accounted for 86.4% and 70.2% of the

revenues for the three months ended March 31, 2008 and 2007, respectively.

International sales accounted for the remaining revenues. Domestic revenues

increased 13.3% principally due to increased volumes and higher average sales

prices and international revenues decreased 58.0% due primarily to the absence

of PATH shipments in 2008. Overall, unit sales decreased 20.7%. Domestic unit

sales increased 7.5% and international unit sales decreased 54.9%. Domestic

unit sales were 74.4% of total unit sales for the three months ended March 31,

Gross profit increased primarily due to lower cost

of manufactured product. Costs of manufactured product decreased due to lower

volumes mitigated by higher unit costs. The average cost of manufactured

product sold per unit increased by 11.2%. Profit margins can fluctuate

depending upon, among other things, the cost of product manufactured and the

capitalized cost of product recorded in inventory, as well as product sales mix.

Royalty expense decreased 1.6% due to lower gross sales.

Operating expenses increased 9.1%. The decrease in

expense for Sales and marketing was attributable primarily to fewer trade shows

and promotional material, lower compensation, and less travel and entertainment

costs. The decrease was mitigated by higher consulting costs. The increase in

Research and development costs was due principally to increased cost related to

compensation, consulting, and validation costs. General and administrative

costs increased due to additional legal expense as well as higher compensation

Loss from operations increased due principally to

higher operating expenses.

The Company s effective tax rate on the net loss

before income taxes was 0.0% for the three months ended March 31, 2008 and

The Company s balance sheet remains strong with cash

making up 64.6% of total assets. Working capital was $40.3 million at March 31,

2008, a decrease of $2.8 million from December 31, 2007. The current ratio

was 6.0 at December 31, 2007, and 5.9 at March 31, 2008. The quick

ratio remained unchanged at 5.1 for December 31, 2007 and March 31,

2008. These indicators continue to demonstrate a strong financial position.

Approximately $1.1 million in cash flow was used by

operating activities. The remaining uses of cash were for capital costs

incurred for the acquisition of plant, property and equipment and intangible

assets, and the repayment of long-term debt.

Further details concerning the results of operations

as well as other matters are available in the Company s Form 10-Q filed on

May 15, 2008 with the U.S. Securities and Exchange Commission.

Retractable Technologies, Inc. manufactures and

markets safety medical products, principally the VanishPoint automated retraction safety

syringes and blood collection devices, which virtually eliminate health care

worker exposure to accidental needlestick injuries. These revolutionary devices

use a patented friction ring mechanism that causes the contaminated needle to

retract automatically from the patient into the barrel of the device, a feature

that is designed to prevent accidental needlestick injury to healthcare workers

and device reuse. Our products are distributed by various specialty and general

line distributors. For more information on Retractable, visit our Web site at

www.vanishpoint.com.

Forward-looking statements in this press release are

made pursuant to the safe harbor provision of the Private Securities Litigation

Reform Act of 1995 and reflect our current views with respect to future events.

We believe that the expectations reflected in such

forward-looking statements are accurate. However, we cannot assure you that

such expectations will materialize. Our actual future performance could differ

materially from such statements.

Factors that could cause or contribute to such

differences include, but are not limited to: our ability to maintain liquidity;

our maintenance of patent protection; the impact of current litigation (as it

affects our costs as well as market access and the viability of our patents);

the ability to successfully renegotiate or extend the Baiyin Tonsun Medical

Device Co., Ltd. license agreement and

the receipt of payments thereunder; the impact of dramatic increases in

demand; our ability to maintain and quickly increase our production capacity in

the event of a dramatic increase in demand; our ability to access the market;

our ability to maintain or lower production costs; our ability to continue to

finance research and development as well as operations and expansion of

production; the increased interest of other larger market players, specifically

Becton Dickinson & Company, in providing safety products; and other

risks and uncertainties that are detailed from time to time in the Company s

periodic reports filed with the U. S. Securities and Exchange Commission.

STATEMENTS OF OPERATIONS

and Chief Financial Officer