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Symmetry Medical Delays 10-K Filing to Complete Review
Date:3/27/2008

- Expects Filing of Restated Audited Financial Statements No Later Than

April 14, 2008 -

- Confirms 2008 Revenue Guidance -

WARSAW, Ind., March 27 /PRNewswire-FirstCall/ -- Symmetry Medical Inc. (NYSE: SMA), a leading independent provider of products to the global orthopedic device industry and other medical markets, today announced that the filing of its 2007 Annual Report on Form 10-K with the Securities and Exchange Commission will be delayed beyond the March 28, 2008 extended due date. The Company has delayed its 10-K filing in order to provide its Audit Committee, independent auditors and management team adequate time to complete work associated with responding to the discovery of accounting irregularities at its Sheffield, UK operating unit, including completing the final review of the required filings.

The investigation by outside counsel under the direction of the Company's Audit Committee, which is substantially complete, indicates that the irregularities were limited to the Company's Sheffield operating unit. Appropriate remedial measures either have been, or are in the process of being implemented following the investigation, including the departure or suspension of key personnel at the Company's Sheffield operating unit; the appointment of new management at the Sheffield operating unit; and the strengthening of internal controls throughout the Company to ensure strict compliance.

In October 2007, following discovery of the accounting irregularities at the Company's Sheffield operating unit, the Audit Committee self reported the matter to the Staff of the Securities and Exchange Commission and has apprised the Staff of developments since that time. The Sta
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SOURCE Symmetry Medical Inc.
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