Lifebank Corp.

Lifebank Corp.

November 23, 2007 16:49 ET

Lifebank Welcomes New Directors

BURNABY, BRITISH COLUMBIA--(Marketwire - Nov. 23, 2007) - Lifebank Corp. (TSX VENTURE:LBK) is pleased to report that the following were elected to the Board of Directors at its Annual General Meeting held on November 22, 2007:

Ernest Stacey, J. Douglas Seppala, Wayne Jefferson, Jonathan Pollack, Owen Granger, and Alan C. Herrington.

Messrs. Stacey, Seppala, Jefferson and Pollack have been directors for several years. Mr. Granger, the Company's Chief Financial Officer, previously served as a director from 2000 to 2005.

Alan Herrington, who is new to Lifebank, was one of the co-founders of Salman Partners Inc., an independent, research-driven investment dealer serving institutional, corporate, and individual clients since 1994. He is Executive Vice-President and Director of Salman Partners. He has more than 26 years combined experience in investment banking and international corporate banking. He began his career in finance in 1981 with Chase Manhattan Bank with positions in New York and Montreal. Subsequently, he became a key member of Nesbitt Thomson's investment banking team in Vancouver from 1987 to 1994. A graduate of Brigham Young University, Mr. Herrington provides corporate finance expertise to a number of corporations across a wide range of industries. He has provided financial advice to numerous corporations regarding public equity offerings, private equity placements, and mergers and acquisitions.

Lifebank is a biomedical service company that provides processing and cryogenic (ultra low temperature) storage of umbilical cord blood stem cells. It is an AABB accredited, Health Canada inspected and FDA registered facility. Lifebank has successfully stored stem cell samples for clients in Canada, the United States, Europe, Asia, the Middle East and the Caribbean. Lifebank is dedicated to providing its clients with the finest cord blood stem cell processing, analysis and cryogenic storage services available in the world. Lifebank strives to work closely with physicians and public institutions in order to provide life saving cord blood services to any and all persons in need.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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