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Portland Orthopaedics' First Hip Order from US Distributor

03 / 08 / 2006

Portland Orthopaedics Limited (ASX:PLD) has received its first order from new US distributor Plus Orthopedics Inc for $420,000 for Portland's DTC revision hip.

The DTC Hip is used for difficult hip replacement cases typically where a patient suffers poor bone quality and often when a standard hip implant has been less than successful. Portland's first hip implant was inserted in 1997 and so far more than 1,700 implants have been sold.

These hips will be supplied from Portland's inventory and the first implants are expected to be made available to US surgeons in late August.

"This order is significant because it is our first with the Plus group of companies" said Mr David Sekel, Managing Director of Portland Orthopaedics. "The Plus contract also extends to Portland's other products. Over a contracted minimum three-year period Plus Orthopedics Inc will distribute Portland's products including the DTC revision hip, the M-COR primary hip and the Equator Plus Cup. The M-COR primary hip and the Equator Plus Cup will be subject to separate orders in the near future."

"Whilst this batch will be sourced from inventory, Portland is now moving to increase its manufacturing capacity as distributor arrangements begin to be realised in new territories and as the product range expands."

Portland Orthopaedics has a binding agreement with Plus Orthopedics Inc as exclusive distributor of Portland's orthopaedic joint products across the US. Plus Orthopedics Inc is a fully owned subsidiary of Plus Orthopedics AG headquartered in Switzerland. Plus AG is the world's sixth largest joint implant company and operates in 22 countries. Plus Orthopedics Inc has a fully established distribution infrastructure and sales force in 29 states across the United States.