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| BRANCH           | : | ATHLONE                            |
|------------------|---|------------------------------------|
| ACCOUNT      OF  | : | UTAH      MEDICAL PRODUCTS LIMITED |
| EXECUTED      BY | : | UTAH      MEDICAL PRODUCTS INC     |
| AMOUNT           | : | €2,621,000                   |
| CURRENCY         | : | EURO                               |

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| (i) | all      unpaid interest accrued and payable in respect of the Customer's      liabilities; |
|-----|---------------------------------------------------------------------------------------------|

| (ii) | all      interest on the Customer's liabilities from the date of demand under or      earlier determination of this guarantee until payment calculated at the      rate and in the manner applicable to the relevant account of the      Customer; |
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| (iii) | all      unpaid commission, fees, charges (including legal charges) and expenses      payable in respect of the Customer's liabilities together with any broken      funding costs, damages, liabilities and any liabilities in connection with      interest and foreign exchange transactions or any liability in connection      with interest and currency hedging and swap agreements, forward rate      agreements, interest and currency futures or options, interest rate caps,      interest rate floors, interest rate collars, gilt and cash options and any      other forms of financial instruments which may be incurred by the Bank in      respect of the Customer's liabilities;and |
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| (iv) | all      such additional amounts as may be necessary in order that the net amounts      which the Bank receives from the Guarantor hereunder after any taxes,      levies, imposts, duties, deductions, withholdings or other charges      referred to in Clause 24 hereof shall equal the respective amounts due      under this guarantee. |
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| Amount    | Currency |
|-----------|----------|
|      |     |
| 2,621,000 | Euro     |

| 1. | Unless      the contrary intention appears, words in the plural shall include the      singular.   References herein to the masculine gender shall      include the feminine as the context admits and any reference in this      guarantee to a “guarantee” shall be deemed to refer to this “Guarantee and      Indemnity”. |
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| 2. | This      guarantee shall be in addition to and not in substitution for any other      guarantee for the Customer given to the Bank by the    Guarantor. |
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| 3. | This      guarantee shall be in addition to and shall not be in any way prejudiced      or affected by any collateral or other security now or hereafter held by      the Bank for all or any part of the liabilities hereby      guaranteed. |
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| 4. | Although      the ultimate liability of the Guarantor under this guarantee is not to      exceed the limit hereinbefore specified, yet this guarantee shall be      construed and take effect as a guarantee for the whole and every part of      the ultimate balance owing by the Customer to the Bank and unless and      until such balance has been paid in full by the Guarantor the Guarantor      shall not be entitled to share in any security held by the Bank on account      of that balance or to stand in the place of the Bank in respect of any      security or money nor until such balance has been paid in full shall the      Guarantor take any steps to enforce any right or claim against the      Customer in respect of any monies paid by the Guarantor to the Bank      hereunder or have or exercise any rights as surety in competition with the      Bank. |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 5. | For      the purpose of enabling the Bank to sue the Customer or prove against his      estate or prove in the bankruptcy, winding up of, insolvency or      examination by an examiner of or any analogous proceedings in relation to      the Customer for the whole of the ultimate balance or to preserve intact      the liability of any other party, the Bank may at any time place and keep      for such time as it may think prudent any money received, recovered or      realised hereunder on one or more separate or suspense accounts to the      credit either of the Guarantor or of such other party as it shall think      fit without any intermediate obligation on the part of the Bank to apply      the same or any part thereof in or towards the discharge of the ultimate      balance owing as aforesaid and without any intermediate right on the part      of the Guarantor to sue the Customer or prove against his estate or in the      bankruptcy, insolvency or winding-up of or in the examination by an      examiner of or any analogous proceedings in relation to the Customer in      competition with the Bank or so as to diminish any dividend or other      advantage that would or might come to the Bank or so as to treat the      liability of the Customer asdiminished. |
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| 6. | All      monies received by the Bank from the Guarantor or the Customer or any      other party liable to pay the same may be applied by the Bank to any      account or item of account or to any transaction to which the same may be      applicable. |
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| 7. | This      guarantee shall not be considered as satisfied by any intermediate payment      or satisfaction of the whole or any part of any sum or sums of money owing      as aforesaid but shall be a continuing security and shall extend to cover      any sum or sums of money which shall for the time being constitute the      balance due from or unpaid by the Customer to the Bank upon any such      account or accounts as aforesaid and so that where such balance exceeds      the aforesaid limit of the liability of the Guarantor, the Bank may select      the particular account or accounts which is or are to be regarded as      secured by this guarantee. |
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| 8. | Demands      under this guarantee may be made from time to time and may be withdrawn      and subsequently made again and the liabilities and obligations of the      Guarantor under this guarantee may be enforced irrespective      of: |
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|   | (a) | whether      any demands, steps or proceedings are being or have  been |
|--------|-----|------------------------------------------------------------------------|

|   | taken      against the Customer, the Guarantor and/or any third party;    or |
|--------|------------------------------------------------------------------------------|

|   | (b) | whether      or in what order any security to which the Bank may be entitled in respect      of the ultimate balance isenforced. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------|

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| 9. | This      guarantee shall be binding as a continuing security on the Guarantor until      the expiration of one calendar month after the Guarantor shall have given      to the Bank notice in writing to discontinue and determine    it. |
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| 10. | In      the event of this guarantee ceasing from any cause whatsoever to be      binding as a continuing security on the  Guarantor:- |
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| 11.(i) | The      Bank shall be at liberty without any further consent from the Guarantor      and without in any way affecting its rights against the Guarantor, and      notwithstanding that it may increase or otherwise affect the liability of      the Guarantor at any time to |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 11.(ii) | The      liabilities and obligations of the Guarantor under this guarantee shall      remain in force notwithstanding any act, omission, neglect, event or      matter whatsoever except the proper and valid payment of the ultimate      balance and subject as hereinafter provided in this guarantee an absolute      discharge or release of the Guarantor signed by the Bank and without      prejudice to its generality the foregoing shall apply in relation to      anything which would have discharged the Guarantor (wholly or in part) or      which would have afforded the Guarantor any legal or equitable      defence. |
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| 11.(iii) | The      Bank may release or discharge any one or more of the persons a party to      this guarantee from the obligations of this guarantee or compound with or      otherwise vary or agree to vary the liability of or to grant time or      indulgence or to make other arrangements with any one or more of them or      any other person without prejudicing or affecting its rights against the      other or others of such persons. Without prejudice to the generality of      the foregoing none of the liabilities or obligations of any of the      Guarantor under this guarantee shall be impaired by any provision of this      guarantee being or becoming void, unenforceable or otherwise invalid under      any applicable law as regards any other Guarantor for any reason      whatsoever. |
|----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 12. | A      certificate in writing signed by any duly authorised officer of the Bank      stating the amount at any particular time due and payable by the Guarantor      to the Bank shall (save for manifest error) be conclusive evidence as      against the Guarantor. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 13. | The      Guarantor hereby warrants and undertakes to the Bank that in respect of      its liability under this guarantee it has not taken and will not take from      the Customer, either directly or indirectly, without the consent of the      Bank, any promissory notes, bills of exchange, mortgage, charge or other      security whether merely personal or involving a charge on any property      whatsoever of the Customer whereby the Guarantor or any person claiming      through them by endorsement, assignment, or otherwise would or might on      the bankruptcy, insolvency, winding-up of or examination by an examiner of      or any analogous proceedings in relation to the Customer and to the      prejudice of the Bank increase the proofs in such bankruptcy, insolvency;      winding-up of or examination by an examiner of or any analogous      proceedings in relation to the Customer or diminish the property      distributable among the creditors of the Customer; and that as regards any      such security as aforesaid which the Guarantor may have taken or may take      with such consent as aforesaid the security shall be a security to the      Bank for the fulfilment of the obligations of the Guarantor hereunder and      shall forthwith be deposited by the Guarantor with the Bank for that      purpose. |
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| 14. | In      respect of the Guarantor's liability hereunder the Bank shall have a lien      on all securities or other property of the Guarantor held by the Bank      whether for safe custody or otherwise.   The Guarantor      hereby authorise the Bank entirely at the discretion of the Bank (as well      before as after demand hereunder) and without any notice to the Guarantor      at any time to set-off and apply any credit balance on any account of the      Guarantor with the Bank (whether current or otherwise or subject to notice      or not) or any monies held by or to be held by the Bank to the order of      the Guarantor, in satisfaction of any sum due and payable by the Guarantor      to the Bank hereunder and for this purpose the Bank is authorised to      purchase with the monies standing to the credit of any such account or any      monies held or to be held as aforesaid such other currencies as may be      necessary to effect such application.   The Bank shall not      be obliged to exercise any right given to it by this clause      14. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 15. | No      assurance, security or payment which may be avoided or proves to have been      for any reason invalid under any enactments relating to bankruptcy or      under the provisions of any other law governing the Customer or the      Guarantor or any other person from whom the Bank receives any assurance,      security or payment and no release, settlement, discharge, composition or      arrangement which may have been given or made on the faith of any such      assurance, security or payment shall prejudice or affect the Bank's right      to recover from the Guarantor to the full extent of this guarantee as if      such assurance, security, payment, release,  settlement,      discharge, composition or arrangement (as the case may be) had never been      granted, given or made.  The Bank shall be at liberty to retain      any security held for the Guarantor's liability hereunder for a period of      seven months after the repayment of all sums that are or may become due to      the Bank from the Customer notwithstanding any release, settlement,      discharge or arrangement given or made by the Bank provided that if at any      time within the period of six months after such repayment either a      bankruptcy petition shall be presented against the Customer or a petition      shall be presented to a competent Court for an Order for the winding up of      the Customer or the Customer shall commence to be wound up voluntarily or      if a petition is presented before any competent Court or an Order is made      or notice published or issued by any competent Court or any analogous      proceedings or action is taken in connection with the appointment of an      examiner, administrator, administrative receiver, trustee or any similar      officer to the Customer or to a Related Company of the      Customer.  The Bank shall be at liberty to continue to retain      such security or any part thereof for and during such further period as      the Bank may determine in which event such security shall be deemed to      have continued to have been held by the Bank as security for the payment      to the Bank of all or any sums which shall or may become due and owing to      the Bank from and by the Guarantor either by virtue of the provisions of      this guarantee or as a consequence of any Order made by a competent Court      under any provisions of bankruptcy or company  law. |
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|   | For      the purposes of this clause 15 Related Company has the meaning ascribed to      it in Section 4 (5) of the Companies (Amendment) Act,  1990. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16. | The      non-execution or invalid execution of this guarantee by any one or more of      those who have agreed to join in this guarantee will not affect the      liability of those who have joined in and signed this      guarantee. |
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| 17. | This      guarantee shall not be discharged nor shall the Guarantor's liability be      affected by reason of any failure or irregularity defect or informality in      any security given by or on behalf of the Customer in respect of the      monies or liabilities hereby secured nor by any legal limitation,      disability, incapacity or want of any borrowing powers of or by the      Customer or want of authority of any director, manager, official or other      person appearing to be acting for the Customer in any matter in respect of      the monies or liabilities hereby secured or any other circumstance which      renders the liability of the Customer void or unenforceable and such      monies or liabilities will be recoverable by the Bank from the Guarantor      as sole, original and independent obligor upon first written demand by way      of a full indemnity together with all losses, claims, costs, charges and      expenses to which the Bank may be subject or which it may incur in      connection with the Customer's liabilities or this    guarantee. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 18. | This      guarantee shall not be discharged nor shall the Guarantor's liability be      affected by any reduction occurring in, or other arrangement being made      relating to the Customer's liabilities or any of them to the Bank as a      result of any arrangement or composition, made pursuant to any of the      provisions of the Companies (Amendment) Act, 1990 or any analogous      provisions or made pursuant to any proceedings or actions whatsoever and      whether or not following the appointment of an administrator,      administrative receiver, trustee, liquidator, receiver or examiner or any      similar officer to the Customer or over all or a substantial part of the      assets (as the case may be) of the Customer and the Guarantor hereby agree      with and to the Bank that the amount recoverable by the Bank from the      Guarantor hereunder will be and will continue to be the full amount which      would have been recoverable by the Bank from the Customer in respect of      the Customer's liabilities and any of them had no such arrangement or      composition as aforesaid been enteredinto. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 19. | Should      the Customer be an unincorporated body, committee, partnership, trustees      or debtors on a joint account, this guarantee shall remain effective      notwithstanding any retirement, change, accession or addition as fully as      if the person or persons constituting such body, committee, partnership,      trustees or debtors on joint account at the date of the Customer's default      or at any time previously was or were the same as at the date      hereof. |
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| 20. | Any      notice or demand hereunder shall be in writing and shall be expressed to      be a notice given hereunder and shall be deemed to be given upon being      left at or transmitted by telex to the correct telex number of the party      to whom it is being transmitted or by telefax to the party to whom it is      being sent or forty-eight hours after having being posted by prepaid      ordinary post to the party to which it is to be given at its address      hereinbefore set out or such other address as such party shall have      previously communicated by notice to the party giving such first mentioned      notice or demand. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21. | If      the Bank wishes to assign and/or transfer its rights in respect of any      facility or accommodation made available by the Bank to the Customer, or      any part thereof the Bank shall be free to assign and/or transfer to the      relevant assignee or transferee the benefit of this guarantee to the      extent that it relates to such facility or accommodation or such part      thereof and no such assignment or transfer shall affect this guarantee as      far as concerns the right of the Bank in respect of the facilities or part      thereof not so assigned or transferred.  This guarantee shall      not be assigned by the Guarantor except with the prior consent in writing      of the Bank and shall inure to the benefit of the successors, assigns and      transferees of the Bank.  The Guarantor hereby irrevocably      authorise the Bank for the purposes of or in connection with any proposed      transfer or assignment to disclose to the proposed assignee or transferee      all and any information and documentation in the Bank's possession in      relation to the Guarantor or any of them as may be reasonably required by      any such person in connection with such assignment or transfer and so far      as such information constitutes personal data within the meaning of the      Data Protection Act, 1988 this authority shall be a consent for the      purposes of the said Act. |
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|   | Without      prejudice to the generality of the foregoing where the Bank holds the      debt(s) in respect of which the security in the form of this guarantee is      given on trust for a third party and/or where the Bank holds the debt(s)      following an equitable assignment thereof to a third party the Guarantor      hereby acknowledge and agree that the Bank may hold this guarantee on the      same terms and with like effect as it holds the debt in respect of which      the security in the form of this guarantee is being given and this      guarantee will be in full force and effect in respect of all such debt(s)      and the benefit of the security created by this guarantee is intended by      the Guarantor and the Bank to be transferable in like manner and with the      same effect as the debt in respect of which the security is      given. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 22. | A      waiver by any of the parties hereto of any breach by any other party of      any of the terms, provisions or conditions of this guarantee or the      acquiescence of any party hereto to any act (whether of commission or      omission) which but for such acquiescence would be a breach as aforesaid      shall not constitute a general waiver of such term, provision or condition      or of any subsequent act contrarythereto. |
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| 23. | This      guarantee is and will remain the property of the  Bank. |
|-----|-------------------------------------------------------------------|

| 24. | Every      obligation of the Guarantor arising under this guarantee shall be      discharged in the same currency as that of the corresponding principal      debt of the Customer.  All payments to be made hereunder by the      Guarantor shall be made to the Bank without any set-off or counter-claim      and without any deduction for or on account of any present or future      taxes, levies, imposts, duties, deductions or withholdings or other      charges of whatever nature imposed, levied, collected, withheld or      assessed unless the Guarantor is compelled by law so to      do.   If so compelled the Guarantor shall pay such      additional amounts as may be necessary in respect of their obligations      hereunder in order that the net amounts after such taxes, levies, imposts,      duties, deductions, withholdings  or other charges shall equal      the respective amounts duehereunder. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 25. | If      for the purposes of obtaining judgment in any court it is necessary to      convert a sum due hereunder in one currency (in this Clause called “the      first currency”) into another currency (in this Clause called “the second      currency”) the rate of exchange which shall be applied shall be that at      which in accordance with normal banking procedures the Bank could purchase      the first currency with the second currency on the business day preceding      that on which final judgment is given and the obligation of the Guarantor      in respect of any such sum due from them to the Bank hereunder shall,      notwithstanding any judgment in the second currency, be discharged only to      the extent that on the business day following receipt by the Bank of any      sum adjudged to be due hereunder in the second currency the Bank may in      accordance with normal banking procedures purchase the first with the      second currency; if the first currency so purchased falls short of the sum      originally due to the Bank in the first currency, the Guarantor agrees      that it shall, as a separate obligation and notwithstanding any such      judgment, indemnify the Bank against such  shortfall. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 26. | The      Guarantor confirms that on entering into this guarantee and the      transactions contemplated by this guarantee and the assumption of their      obligations hereunder that the Guarantor has not relied and does not rely      upon any information or advice provided or any appraisal or investigation      affected by the Bank or any of the professional advisers to the      Bank. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 27. | (i) | The      Guarantor hereby waives all demands on the Customer for performance of any      of the covenants, terms, conditions and agreements of any facility or      accommodation or for payment of any moneys by the Customer hereby secured      and also hereby waives the necessity for any presentment for payment      notice of dishonour protest and such other notice (if any) which the Bank      might otherwise be required to give in connection with the exercise of its      rights or any of them in respect of any of the obligations contained      herein or otherwise. |
|-----|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (ii) | The      Guarantor hereby agrees that in any litigation relating to these presents      the aforesaid obligations or any security therefore it shall waive the      right to interpose any defence based upon any claim of laches or set-off      or counter-claim of any nature ordescription. |
|--|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | for      the benefit of the Bank submits to the jurisdiction of the Courts of      Ireland in relation to any claim or proceeding in connection with this      Guarantee; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | submits      to any other jurisdiction in which the Guarantor has assets and the      Guarantor hereby waives any objection to any claim that any suit, action      or proceedings have been brought in any inconvenient  forum; |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | appoints      the Customer as its agent for the service of legal process out of the said      Courts at the Customer's address herein or at the Customer's address last      known to the Bank; |
|--------|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | confirms      that service of legal process out of such Courts on the Customer shall be      deemed due service upon the Guarantor for the purposes of such legal      proceedings; |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | agrees      where requested by the Bank, and without prejudice to any other method of      service, to appoint an authorised agent for service of proceedings;      and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (vi) | agrees      that nothing herein shall affect the right to service of legal process in      any other manner permitted by law. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------|

| 29. | Each      of the provisions of this guarantee is severable from the others and if at      any time one or more of such provisions is or becomes illegal, invalid or      unenforceable the validity, legality and enforceability of the remaining      provisions hereof shall not in any way be effected or impaired      thereby. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 30. | This      guarantee shall be governed by and construed in accordance with the laws      of Ireland. |
|-----|-----------------------------------------------------------------------------------------------------|

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| UTAH      MEDICAL PRODUCTS, INC. | (Place      Seal here) |
|----------------------------------|------------------------|

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| Date:                          | ______12-      June-2008__________    |
|--------------------------------|---------------------------------------|
|                           |                                  |
|                           |                                  |
|                           |                                  |
| On      behalf of              |                                  |
| Utah      Medical Products Inc | __/s/ Kevin L.      Cornwell_________ |

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