MedeFile Comments on Shift of Stock Quotation Coverage From OTCBB to OTCQB

BOCA RATON, Fla., Feb. 28, 2011 /PRNewswire/ -- MedeFile International, Inc. (OTCQB: MDFI), a leader in portable patient-centric electronic medical record management solutions, today commented on the shift in the Company's stock quotation coverage which recently transitioned from the OTCBB to the OTCQB under the symbol "MDFI."   The shift in coverage to the OTCQB was caused by an unexpected migration of the Company's market makers away from the OTCBB, and does not affect, nor is it a reflection upon, MedeFile's business, operations or growth prospects.  

The OTCQB is one of three tiers established by OTC Markets Group, Inc., which operates one of the world's largest electronic interdealer quotation systems for broker-dealers to trade securities not listed on a national exchange. The OTCQB designation is meant to identify companies that are reporting with the SEC or a U.S. banking regulator, making it easy for investors to identify companies that are current in their reporting obligations.

Kevin Hauser, Chief Executive Officer of MedeFile, stated, "We have been told by several of our market makers that there is no technical difference between an OTCBB trading security and a fully reporting issuer trading on the OTCQB.  Therefore, until such time as MedeFile meets the criteria to qualify for listing on the Nasdaq or other national securities exchange, our common stock will be quoted on the OTCQB, which can be viewed at www.otcmarkets.com."

About MedeFile International, Inc.

Headquartered in South Florida, MedeFile has developed and globally markets a proprietary, patient-centric, iPHR (Internet-enabled Personal Health Record) system for gathering and digitizing medical records so that individuals can have a comprehensive record of all of their medical visits.  MedeFile's primary product is its web-based MedeFile solution, a highly secure system for gathering, maintaining, accessing and sharing personal medical records.  Interoperable with most electronic medical record management systems marketed to the healthcare industry, the MedeFile solution is designed to gather all of its members' actual medical records and create a single, comprehensive Electronic Health Record (EHR) that is accessible 24 hours a day, seven days a week by the member and the member's authorized users on any web-enabled device (PC, cell phone, smartphone, e-reader) and portable MedeDrive unit. For more information about MedeFile and its annual subscription-based programs, please visit www.medefile.com.

Safe Harbor Statement Under the Private Securities Litigation Act of 1995

With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of MedeFile could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the Company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rates, and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, and such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors associated with our Company, review our SEC filings.

SOURCE MedeFile International, Inc.