EKO Systems, Inc. Secures $5 Million in Series B Funding

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EKO Systems, Inc., a leading provider of advanced, turnkey Perioperative Clinical Information Management Systems (PCIMS) supporting electronic data capture and management of patient information in the surgical environment, announced that it has secured $5 million in Series B financing from Kaupthing Bank, through Uppspretta Icelandic Capital Venture, SA. The financing will support the company’s aggressive business development, sales and marketing initiatives, provide resources to expand client support, corporate infrastructures and allow EKO to retire all outstanding debt.

EKO Systems, Inc., a leading provider of advanced, turnkey Perioperative Clinical Information Management Systems (PCIMS) supporting electronic data capture and management of patient information in the surgical environment, announced that it has secured $5 million in Series B financing from Kaupthing Bank, through Uppspretta Icelandic Capital Venture, SA. The financing will support the company’s aggressive business development, sales and marketing initiatives, provide resources to expand client support, corporate infrastructures and allow EKO to retire all outstanding debt.

“Closing this Series B financing will allow EKO to capitalize on the healthcare industry’s rapidly growing need to acquire PCIMS,” said Warren Guillett, president and CEO of EKO Systems. “Since 1996, EKO Systems has been at the vanguard of the movement to bring PCIMS technology to the hospital surgical environment. We estimate the market for Perioperative CIMS solutions is, at least, $1 billion, and at best, only 5% penetrated by all vendors combined. This funding provides the company with the resources to scale its sales, marketing, installation and client support infrastructures to take advantage of the healthcare industry’s skyrocketing interest in Perioperative CIMS solutions.”

About EKO Systems Inc.

EKO Systems, Inc., based in Fairfax, Virginia was founded in 1996 to develop and provide technologically advanced Perioperative Clinical Information Management Systems (PCIMS) to hospital high-acuity care environments (OR, ICU, ER, etc.). EKO Systems, Inc., is the developer of Frontiers™, an advanced, turnkey hardware and software PCIMS solution that automates the process of charting surgical patient care and completing associated billing functions. EKO Systems, Inc. is a privately held, Delaware-chartered, C corporation. The Company completed a $2.5 million, Series A financing in 2000.

About Kaupthing Bank

Kaupthing Bank (http://www.kaupthing.com), established in 1982, is one of the eighth largest banks in the Nordic countries and is rapidly becoming one of the leading investment banks in the region. Headquartered in Reykjavík, Iceland and operating in ten counties, including all of the Nordic countries as well as New York, London, Luxembourg and Geneva, Kaupthing offers comprehensive commercial and investment banking services to individuals, companies and institutional investors. Kaupthing Bank’s market cap, as of September 2004, is around $4.7B USD with total assets end of Q3 around $21.4B USD. Kaupthing Bank is listed on the Swedish and Icelandic stock exchanges (Bloomberg tickers: KAUP SS and KAUP IR).

Contact Information:

Persons interested in obtaining additional information about EKO Systems, inc., should contact Warren Guillett, CEO (wguillett@ekosystems.com) or Investor Relations.

2750 Prosperity Avenue

Suite 200

Fairfax, Virginia 22031

Telephone: (703) 849-1477

Fax:            (703) 849-1482

Website:     http://www.ekosystems.com

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Greg Vogel