SAN DIEGO, Jan. 30, 2004 (PRIMEZONE) -- Global Medical Products Holdings, Inc. (Other OTC:GMDP.PK - News) reported January 20, 2004 to the Securities and Exchange Commission on Form 8-K that it had entered into an Agreement with Redwood Securities Group, Inc.
This Form 8-K outlined services that are being provided to Redwood Securities Group Inc., San Francisco, Calif. Redwood is a highly respected broker dealer in the securities industry with their primary emphasis being in the servicing of municipal securities. Additional information on Redwood Securities Group, Inc. may be seen at the company's public web site, http://www.redsec.com .
In November of 2003 Global Medical Products Holdings, Inc. was contacted by a non-related individual about assisting Redwood in becoming a publicly traded entity by using Global Medical Products Holdings, Inc. shareholder base. Discussions were held and an agreement was signed in late December.

Paraphrasing the agreement, Global Medical Products Holdings, Inc. will assist Redwood in their efforts to become a public company by allowing the use of the Global Medical Products Holdings, Inc. shareholder base. For such use Global Medical Products Holdings, Inc. shareholders will be
compensated with stock in the publicly traded Redwood Securities Group. The approximate value to the shareholders of Global Medical Products Holdings, Inc. is $0.013 per Global Medical Products Holdings, Inc. common share.

This alliance with Redwood Securities Group, Inc. has further reaching benefits. In December 2003, Redwood Securities Group, Inc. retained the services of eight brokers in the City of Industry, Ca. This new office has in the past been heavily involved in the Chinese marketplace. Redwood Securities Group, Inc. has begun the initial planning stage to open offices in the People's Republic of China with emphasis on introducing entrepreneurial Chinese companies into the American market.

Global Medical Products Holdings, Inc. feels that such an alliance will enhance the potential of its business plan to cross market American and Chinese products.

2002 ACQUISITION UPDATE

This activity is one of many that the management of and consultants to Global Medical Products Holdings, Inc. of have been working on to restore shareholder value in the Company. In late 2002, the Company announced several agreements relating to acquisitions of businesses and licenses in the People's Republic of China. Each of these transactions involved the use of Global Medical Products Holdings, Inc. stock as payment and was based on a trading price of the stock as $0.10 per share. The conclusion of these transactions would add approximately 8 million US dollars in revenue to Global Medical Products Holdings, Inc.

However, in January 2003, with all of the agreements signed and activated, the price of the common stock in Global Medical Products Holding, Inc. began a dramatic decrease in value. The principals in the acquisitions concluded that they could not transfer ownership of their businesses or the use of their licenses until they could be assured of receiving the full compensation agreed upon by the various agreements. The restricted stock for these transactions was issued and delivered to a third party who was acting as an escrow agent. The stock has not been delivered to the selling entities and remains in escrow. These agreements are still in place and on hold until the Company can either pay cash as the compensation or the stock price rises to the $0.10 level again.

The management and consultants of Global Medical Products Holdings, Inc. are continuously working to strengthen the financial position of the Company.

About Global Medical Products Holdings, Inc.

Global Medical Products Holdings, Inc. is a U.S.- based technology company specializing in the development, manufacture, and distribution of cardiovascular and body fluid-related products for the growing worldwide medical market. Global Medical Products Holdings, Inc. focuses 50% of its revenue base in China and 50% in North America and Europe. China represents some 1.3 billion people, twice the population size of North America. It is the only world market leader that has enjoyed an eight percent annual growth in its Gross National Product in recent years and should continued to do so through 2010.

The Company is contemplating increasing its exposure to the global marketplace by assisting small foreign companies arrange for financing and marketing of their products.

The Company maintains a public web site at http://www.globalmedprod.com.

About Redwood Securities Group, Inc.

Redwood Securities Group, Inc. (Redwood) is a full service San Francisco-based financial services firm. Redwood has built a solid reputation as a progressive industry leader through its investment banking successes in Municipal and Corporate Finance and as a primary dealer for U.S. Agency Debt. In addition to its investment banking business, Redwood offers clients traditional brokerage services that include fixed-income, equity and mutual fund trade execution, and in-house equity research. Established in 1990 as a Minority Business Enterprise, Redwood is certified with the California State Treasurer's Office as well as the City and County of San Francisco.

Redwood is licensed with the Securities and Exchange Commission and is a registered member in good standing of the National Association of Securities Dealers (NASD) and the Municipal Securities Rulemaking Board (MSRB). Redwood is a correspondent of Pershing, LLC. Consequently, all Redwood client accounts and funds are held at Pershing, LLC and all securities trades are cleared through Pershing, LLC.

Redwood Securities Group, Inc. maintains a public web site at http://www.redsec.com .

Contact:
Global Medical Products Holdings, Inc.
Douglas P. Brown
(619) 222-2568
(619) 374-7471, Fax
www.redsec.com