The Estate Vault to open a subsidiary in Australia for delivering portable health management solutions

The Estate Vault, Inc. (PINKSHEETS: TEVI), a leading provider of comprehensive electronic repository services for consolidating and protecting, medical, personal financial, and legal records, announced today that in response to the May 2009 announcement from the Australian National Health & Hospitals Reform Commission, that it will open a wholly owned subsidiary in Australia. Establishing EPR Australia Pty Ltd is a strategic expansion of Estate Vault's proprietary solutions and will deliver the most comprehensive portable health management solution available in the Australian marketplace.

Boyd Soussana, CEO Estate Vault, stated, "By the end of next year, every public hospital in New South Whales (NSW) will move from paper patient notes to electronic medical records that can be accessed by any health worker, and Estate Vault's unique ability to 'up-load' digital health files will allow patients greater flexibility and ownership of their personal health records." Boyd also noted that, Australia is moving quickly in response to worldwide objectives to digitize health records by 2012, and setting up EPR Australia will put Estate Vault technology at the forefront of this massive change. "Portable electronic health records would extend patients' information beyond hospital walls to all GPs, specialists and health systems in all Australia, as well as world-wide access in case of emergencies," said Boyd.

The Minister for Health, John Della Bosca, said the $100 million project to digitize 250 hospitals will save money by eliminating duplicate diagnostic tests and imaging. It will also improve patient safety by alerting staff to a deteriorating patient and reduce the likelihood of errors. Peter Garling, SC, recommended an urgent roll-out of electronic medical records (eMR) in his special commission of inquiry into acute care services, which found NSW's record-keeping system is "a relic of the pre-computer age" that puts patient safety at risk.

Boyd Soussana added, "We are very excited to establish EPR Australia and have picked a knowledgeable team that is ready to launch Estate Vault portable health care solutions. The executive is led by President, George Dragasevich, a highly respected doctor of Chiropractic Medicine, who has been associated with the Olympic and national swim teams in Australia. Simon Stevens will join as Vice President, Strategic Initiatives and has successfully run his own software company that has integrated digital record solutions for the medical industry over the past 15 years. Also joining the team will be Dr. Caron Jander, as Medical Director, Sports Initiatives. Caron is currently the Chief Medical Officer for the Australian Jockey Commission as well as Chief Medical Officer for the NSW Fire-brigade. Rounding out the team is Sue Dragasevich who will join EPR as Vice President of Marketing, bringing over 25 years of consumer marketing experience, specializing in the health and beauty industries. This team is ready to launch immediately and is currently working with The Australian Jockey Association on a pilot project."

George Dragasevich, President EPR Australia, said, "What a great opportunity to launch a health-care solution that so many Australians will benefit from. Estate Vault's portable e-Health record platform has the ability to pioneer the way that patients access, store and share their medical information, allowing them full portability in who and how this data is accessed and shared. This partnership will address the urgent need to reduce cost and waste in the medical system."