<PAGE>
EXHIBIT 99
The following undertakings are incorporated into the Company's Registration
Statements on Form S-8 (Registration Nos. 33-11046, 33-41765, 33-66038,
333-14993, 333-35015 and 333-65585).
(a) The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made,
a post-effective amendment to this registration statement.
(i) To include any prospectus required by section 10(a)(3) of the
Securities Act of 1933;
(ii) To reflect in the prospectus any fact or events arising
after the effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in the registration
statement;
(iii) To include any material information with respect to the
plan of distribution not previously disclosed in the registration statement or
any material change to such information in the registration statement;
Provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not
apply if the registration statement is on Form S-3 or Form S-8, and the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed by the registrant pursuant to
Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are
incorporated by reference in the registration statement.
(2) That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed to be
a new registration statement relating to the securities offered therein, and the
offering thereof.
(3) To remove from registration by means of a post-effective amendment
any of the securities being registered which remain unsold at the termination of
the offering.
(b) The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
registrant's annual report pursuant to Section 13(a) or 15(d) of the Securities
Exchange Act of 1934 (and, where applicable, each filing of an employee benefit
plan's annual report pursuant to Section 15(d) of the Securities Exchange Act of
1934) that is incorporated by reference in the registration
<PAGE>
statement shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial bona fide offering thereof.
Insofar as indemnification for liabilities arising under the Securities Act of
1933 may be permitted to directors, officers and controlling persons of the
registrant pursuant to the foregoing provisions, or otherwise, the registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the registrant of expenses incurred
or paid by a director, officer or controlling person of the registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Act and will be governed by the final adjudication of
such issue.
<PAGE>
S-1
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
MEDICAL ACTION INDUSTRIES INC.
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
COL. A COL. B COL. C COL. D
------------------------------------------------------------------------------------------------------------------------------------
ADDITIONS
Additions Charged to
Balance at Charged Other Other Changes
Beginning of to Costs and Accounts - - Add
Description Period Expenses Describe (Deduct) Describe
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Year ended March 31, 2000 $128,998 $28,000 -
Deducted from asset accounts:
Allowance for doubtful accounts
Year ended March 31, 1999
Deducted from asset accounts:
Allowance for doubtful accounts $117,086 $27,000 ($15,088)(1)
Year ended March 31, 1998
Deducted from asset accounts:
Allowance for doubtful accounts $112,239 $28,000 ($23,153)(1)
-------------------
(1) uncollectible accounts written off
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
--------------------------------------------------------------------------------
COL. A COL. E
--------------------------------------------------------------------------------
Balance
end of
Description Period
--------------------------------------------------------------------------------
<S> <C>
Year ended March 31, 2000 $156,998
Deducted from asset accounts:
Allowance for doubtful accounts
Year ended March 31, 1999
Deducted from asset accounts:
Allowance for doubtful accounts $128,998
Year ended March 31, 1998
Deducted from asset accounts:
Allowance for doubtful accounts $117,086
</TABLE>
-------------------
(1) uncollectible accounts written off
--------------------------------------------------------------------------------
