X0202 4 2006-12-29 1 0001144284 MEDICALCV INC MCVI 0001176482 MEDCAP PARTNERS LP 500 THIRD STREET #535 SAN FRANCISCO CA 94107 0 0 1 0 Common Stock 2006-12-31 4 J 0 242893 0 D 847114 D The disposition of 33,058 shares of the issuer's common stock reported on this Form 4 was made by the reporting person as in-kind distributions from a separate account for the benefit of some of the reporting person's former limited parters. The disposition of 209,835 shares of the issuer's common stock reported on this Form 4 was made by the reporting person as in-kind distributions to certain withdrawing limited partners. As a result of these dispositions, the reporting person is no longer the beneficial owner of more than 10% of the issuer's common stock for Section 16 purposes. MedCap Partners L.P.; By: MedCap Management & Research LLC, its General Partner; By: C. Fred Toney, its Managing Member; /s/ C. Fred Toney 2007-01-04