Orthofix International Announces 4th Quarter and Full Year 2008 Results and Full Year 2009 Guidance

> Q408 sales totaled $132.3 million, up 3% from Q407, up 6% on a constant currency basis

> Q408 gross profit margin was 73.7%, up from 73.2% in Q407

> Q408 reported net loss was $717,000, or $0.04 per share, including an unrealized, non-cash fair value adjustment of $5.2 million, or $0.30 per share related to an interest rate swap

> Excluding certain items, adjusted net income was $6.8 million, or $0.40 per share, compared with $3.8 million, or $0.23 per share, in Q407

> Significant sequential increase in EBITDA, as defined in the Company’s amended credit facility, and debt repayment prior to scheduled maturity result in leverage ratio improvement to 3.4 vs. 4.0 maximum allowed at Dec 31, ’08