February 3, 2003

Medical Ventures Appoints Corporate Communications Manager

Richmond, BC, February 3, 2003 - MEDICAL VENTURES CORP., TSX Venture: MEV, (the "Company") fostering the development of innovative medical technologies and devices, is pleased to announce the appointment of J. Caren Holtby, as Corporate Communications Manager.

Ms. Holtby has been working with small and micro cap companies assisting them in communicating their message to the community at large and investor public for over 10 years. Some of the medical technology companies she has worked with are A.L.I. Technologies Inc, a medical imaging company which was recently purchased by McKesson Corp for $530 million and VSM MedTech where the Company raised $12 million which assisted them in achieving their current growth plans, while Ms. Holtby held the role of Investor Relations Manager.

Other non-medical companies that use her expertise are TIR Systems Ltd., and Xentel DM Inc. Formerly Ms. Holtby worked in the investment community as a financial advisor with Midland Walwyn and Nesbitt Thomson managing a diversified client base in both Toronto and Vancouver. Ms. Holtby has been granted 90,000 options exercisable at $0.68 per share, expiring in five years, and subject to certain vesting provisions.

Medical Ventures Corp., is a medical device technology company, whose principal business is to acquire and develop medical technologies, which clearly address a clinical need in the cardiovascular marketplace.

For more information on Medical Ventures Inc. please contact Caren Holtby, Corporate Communications Manager.

Medical Ventures Corp.
Per: Paul Geyer, President, CEO
604-270-4344 ext. 102

Caren Holtby, Corporate Communications Manager
604-270-4344 ext. 110
604-805-8772

The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.