February 14, 2006 06:00 ET

Cryobanks International Inc. Signs Letters of Intent to License Cord Blood Banking Technology

ALTAMONTE SPRINGS, FL -- (MARKET WIRE) -- February 14, 2006 -- Cryobanks International, Inc. (OTC BB: BTEM) has signed two letters of intent with its current licensee in Greece, MedStem Services. These agreements are for the purpose of conveying Cryobanks' proprietary operating procedures and know-how to develop cord blood processing and storage facilities for the territories of Oman and The Emirates.

In December 2005, MedStem Services opened its first facility inside I.A.S.O., the largest hospital in Greece. Separately, Cryobanks has licensed seven facilities in India, the first of which will open in May of 2006.

Cryobanks International is located in Altamonte Springs, Fl. The Company is a leader in the collection, processing, and banking of stem cells derived from the umbilical cord immediately after birth. The units of cord blood are processed and stored by the company for use in unrelated transplants (where the donor is a histocompatible match, but is anonymous and unrelated to the recipient) and for personal storage and use. In recent years, cord blood transplants (CBTs) have become widely recognized as a safe, effective, and in many ways preferable, alternative to bone marrow transplant. There is tremendous potential need for CBTs in the United States and worldwide. Cryobanks International is well poised to help meet that need, equipped with an inventory of over 8,500 cord blood units. For more information about Cryobanks International call 1-800-869-8608 or visit the website at

Safe Harbor Statement

This press release contains "forward-looking statements" by BioStem, Inc. These statements relate to future events or financial performance and transactions, and involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements, to be materially different from those contemplated by the forward-looking statements. There can be no assurance that the acquisition described herein will successfully close. We undertake no ongoing obligation, other than that imposed by law, to update these statements. Factors that could affect results, levels of activity, performance or achievements and cause them to materially differ from those contained in the forward-looking statements include the failure to complete the acquisition of Cryobanks, and other factors that can be found in BioStem's filings with the Securities and Exchange Commission, which can be found at

Contact Information