End of Quarter UpdateMelbourne, January 30 2009 - The Board of...

End of Quarter Update
Melbourne, January 30 2009 - The Board of Medic Vision Limited (the “Board”)

(“Medic Vision” or the “Company”) (AIM: MVH), is pleased to update the market
on our achievements over the last quarter.

The Board believes that the last three months has seen rapid development of
the Company’s plan to deploy medical and surgical education through a global
network of training centers.


India
In India, the Company has signed a binding heads of terms agreement, with
Apollo Hospital Enterprise Ltd, to establish a joint venture company (the “JV”) to
develop and deploy training centres throughout India and other parts of the
world. Significant work has taken place on the Chennai site with the building
works well underway, due for completion in mid 2009. In the interim, training
courses, staffing, equipment and marketing processes are being planned,
sourced and deployed. A Medic Vision representative will be placed onsite in
India over the coming weeks to oversee the finalization of the building works
and the completion and execution of the JV agreement. The Board is pleased
with the progress to date and is confident that management will be successful in
establishing, during the course of 2009, the generation of continuous revenue
through the running of medical and surgical training courses in India.


China
As reported last year, the Ministry of Health of the People’s Republic of China
(the “PRC”) announced a plan, estimated by the PRC’s State Council to have a
cost of 850 million yuan (US$123 million), to reform the health care system and
provide a national level of healthcare to all of its 1.3 billion citizens by 2011,
meaning that in excess of 1.2 million doctors will need to be trained to a national
level of competency similar to other western countries.
Medic Vision is strategically well placed to play a key role in training these
doctors as part of this reform program. In preparation for this opportunity, the
Company has signed a memorandum of understanding with the Chinese
Medical Doctors Association in December 2008 to provide western clinical and
surgical skills training and to develop a competency based evaluation system
throughout the PRC. Medic Vision will deploy training courses to western
standards in the PRC to align itself to the opportunity presented by these
reforms, which the Board expects to commence in Q2 2009, initially at the
Macau University of Science and Technology. The Board is targeting rolling out
further training courses in Guangzhou, Chongqing and Beijing over the
remainder of 2009 and 2010.

The Board anticipates that the initial PRC rollout will utilize existing fully
equipped training centres, which, in most cases will have been fitted out by
Medic Vision, and the Company will then continue to roll out training centres
across the PRC and other areas in Asia.


Red Paragon
In January 2009, Medic Vision announced the acquisition of a controlling interest
(87.5 per cent.) of Red Paragon Pty Ltd (“Red Paragon”) (the “Acquisition”) an
Australian incorporated private company specializing in the manufacture of low
cost, lightweight, building panels for construction of modular buildings. The Board
views the acquisition as a strategic development for Medic Vision, as Red
Paragon brings an essential building product skill set that is well suited for the
planned large volume rapid roll out of skills training centres in India, the PRC and
other parts of the world. The Board believes that the Red Paragon product is
highly suited to this project because of its affordability and capacity to be
environmentally friendly, recyclable and rapidly assembled structurally high
quality, whilst only requiring limited relatively unskilled labour.

UK
Activity in the UK has seen the completion of Torbay Skills Centre - CITEC (The
Centre of Innovation and Training in Elective Care), which will officially open
later this year. Further progress has been made with the marketing of Medic
Vision as a total service provider in the management of skills centres in the UK
with a strong number of prospective clients in negotiation for the Company to
manage their centres. The Board expects to make further announcements,
regarding developments in the UK, later this year.


Simulators
In addition to the planned rollout of training courses, significant simulator sales
were made in Australia to the Royal Australasian College of Surgeons for an
assessment study on the use of simulators for basic surgical skills training
surgical simulators and to the University of Armidale. The value of the combined
sales equates to A$472,000. In addition, a number of simulator sales were
made in the UK with a value of c. £133,000 (A$289,000), including the first

Temporal Bone Simulator sale in the northern hemisphere.
Corporate
The Company is also pleased to have appointed Strand Partners Limited and St
Helens Capital plc in the UK to represent Medic Vision as its Nomad and
corporate advisor and Broker respectively. The Board believes that this will give
the Company greater exposure to potential investors and strategic partners in
both the UK and Europe.
Within the quarter the Company decided to outsource its Company Secretarial
duties to Mertons Corporate Services, thus reducing corporate costs.
The Board expects to announce its audited interim results, covering the six
months to 31 December 2008, in late February 2009.

Conclusion
The Board believes the next six months will be a critical time in the development
of the Company in its strategic plan of deploying and operating skills training
centres globally. The Board and staff are highly motivated to position the
Company as a complete service provider in medical skills training and education
market throughout the world and the Board believes that further progress has
been made by the Company in the last three months towards this goal.


The Board and staff would like to take this opportunity thank our shareholders
for maintaining their long term vision, strong support and continued loyalty,
particularly during these globally difficult economic times.
We look forward to updating the market on our progress in the coming months.


On behalf of the Board
Ross Horley
Managing Director
Medic Vision Limited