Salt Lake City, Utah - In the third calendar quarter (3Q) and three quarters year-to-date, or nine months (9M), of 2008, Utah Medical Products, Inc.'s (Nasdaq: UTMD) changes in financial results compared to the same time

City, Utah - In the third calendar quarter (3Q) and three quarters year-to-date,

or nine months (9M), of 2008, Utah Medical Products, Inc.'s (Nasdaq: UTMD)

changes in financial results compared to the same time period in the prior

calendar year were as follows:

2008, UTMD continued a positive trend in sales and gross profits compared to the

prior year-to-date. Total 3Q 2008 sales were up slightly even though domestic

sales of Intran Plus were $240 (dollar

amounts in thousands, except per share amounts) lower than in 3Q 2007, and gross

profits were down slightly due to increases in costs of raw materials and

significant difference in performance was due to a change in non-operating

income. In 3Q 2008, UTMD recorded non-operating expense of $213, compared to

non-operating income of $365 in 3Q 2007. The $578 difference was due

to realizing a net capital loss of $428 on investments from the failure of

Washington Mutual (WM), and lower interest rates on cash balances.

to CEO Kevin Cornwell,

beginning of the year, I felt that 2% of UTMD's excess cash held in the stock of

the largest savings and loan in the U.S., paying an excellent dividend, was a

good investment decision. I have to accept personal responsibility for the bad

investment outcome, in part because it was also my judgment that we should buy

more as the stock declined. Despite this experience, UTMD has historically been

conservative by consistently holding at least 95% of its excess cash in lower

yield, lower risk interest-bearing money market funds. From an income tax

perspective, the loss will be offset by capital gains achieved in the prior

three years of over $610,000."

UTMD reduced the management bonus reserve in 3Q 2008 by an amount approximating

Mr. Cornwell's estimated annual bonus based on the current projected performance

of UTMD for 2008. The income statement effect reduced G&A

expenses as part of operating expenses, thus increasing operating income, by

following table compares certain 3Q 2008 and 3Q 2007 income statement categories

according to GAAP, with adjusted 3Q 2008 income statement categories omitting

the net capital loss and the bonus adjustment:

management's opinion, the unfavorable net capital loss on investments and the

favorable accrued bonus expense adjustment have an impact on the 3Q 2008 income

statement that does not allow a meaningful comparison with the prior period in

2007, or what is likely to occur in the future.

2008 and 9M 2008, UTMD achieved the following profit margins:

3Q 2008 sales to 3Q 2007 sales in product categories, neonatal product sales

were up 11%, obstetrics product sales were down 18%, gynecology/ electrosurgery

product sales were up 2% and blood pressure monitoring/ components sales were up

15%. Domestic sales in 3Q 2008 were up less than 1%, while

international sales were up 3%, compared to 3Q 2007.

9M 2008 sales to 9M 2007 sales in product categories, neonatal product sales

were up 4%, obstetrics product sales were down 17%, gynecology/ electrosurgery

product sales were up 1% and blood pressure monitoring/ components sales were up

11%. Obstetrics sales were $1,067 lower in 9M 2008 than in 9M

2007. However, UTMD's total 9M 2008 sales were only $241 lower

because of growth in the other product categories.

for unfavorable non-operating income from the WM capital loss and the offsetting

favorable adjustment to G&A expenses, the estimates provided in UTMD's 2Q

2008 disclosures remain consistent with management's current projections for the

year as a whole. Eps for the most recent 4 calendar quarters were $1.93,

compared to $2.00 at the same time last year.

ratios as of September 30, 2008 which may be of interest to shareholders

Receivables (based on 3Q sales activity) = 45

3) Average Inventory Turns

(based on 3Q CGS) = 3.5

(annualized) = 10% (after dividends); 19% (prior to payment of

the loss on investments, 9-30-08 cash and investment balances are approximately

the same as at the end of 2007. A summary of 9M 2008 capital uses,

excluding routine operations, follows:

from unexercised option shares added to actual weighted average outstanding

shares for purposes of calculating eps was 36,100 in 3Q 2008 compared to 57,300

in 3Q 2007, and 39,200 in 9M 2008 compared to 63,800 in 9M 2007. The

actual number of outstanding shares at the end of 3Q 2008 was 3,856,900 which

included 3Q option exercises of 6,100 shares and 3Q share repurchases of

20,200. The average price paid by the Company to repurchase shares in

the open market during 3Q 2008 was $27.63 including commissions. Year-to-date

purchases through 9M 2008 were 66,800 shares at an average per share cost of

$28.58. The total number of outstanding unexercised employee and outside

director options at September 30, 2008 was 210,400 shares at an average exercise

price of $23.10 per share, including shares awarded but not vested. This

compares to 219,100 unexercised option shares outstanding at the end of 3Q

are cautioned that this press release contains forward looking statements, and

that actual results or events may differ from those projected. Risk

factors that could cause results to differ materially from those projected

include clinical acceptance of products, access to the hospital marketplace that

may become restricted at any time by administrative Group Purchasing

Organization agreements, timing of regulatory approval of new products,

regulatory intervention in current operations, the Company's ability to

efficiently manufacture, market, and sell its products, among other factors that

have been outlined in UTMD=s public

disclosure filings with the SEC. The SEC Form 10-Q for 3Q 2008 will

be filed with the SEC by November 10.

Medical Products, Inc., with particular interest in health care for women and

their babies, develops, manufactures, assembles and markets a broad range of

disposable and reusable specialty medical devices designed for better health

outcomes for patients and their care-providers. For more information

about Utah Medical Products, Inc., visit UTMD=s website

Medical Products, Inc.

STATEMENT, Third Quarter (3 months ended September 30)

thousands except earnings per share):

STATEMENT, 3 Quarters Year-to-Date (9 months ended September 30)

thousands except earnings per share):