SOURCE: Bio Stem, Inc.

March 22, 2007 10:53 ET

Cryobanks International Services - Athens Completes First Step Towards AABB Accreditation

ATLANTA, GA -- (MARKET WIRE) -- March 22, 2007 -- Bio Stem, Inc. (OTCBB: BTEM) announced today that Cryobanks International, Inc., which has agreed to be acquired by Bio Stem, Inc., released the following announcement:

ATHENS, GREECE -- Cryobanks International, Inc. and its licensee, Cryobanks International Services - Athens (CISA), announced today that they have successfully completed the first step towards AABB accreditation for the Athens facility.

According to Dr. Anthony Vlahouses, Chairman of CISA, "We are very pleased with the rapid progress our team has made and we expect to be the first cord blood processing center in Greece to obtain this highly valued recognition."

As stated on the AABB web site, its accreditation program... "strives to improve the quality and safety of collecting, processing, testing, distributing and administering blood and blood products. The Accreditation Program assesses the quality and operational systems in place within the facility. The basis for assessment includes compliance with Standards, Code of Federal Regulations and federal guidance documents."

CISA's self-assessment has been reviewed by AABB and determined to be in compliance with standards. The next step is to review quality plan, and then conduct an on-site inspection, which has been set for the third quarter of 2007.

Cryobanks International in Florida has been accredited by the AABB in cord blood activities for over eight years and is one of only 40 facilities accredited by the AABB worldwide.

About Cryobanks:

Cryobanks International is a corporation 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 (CB) 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 (BMT). 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 9,000 cord blood units. For more information about Cryobanks International call 1-800-869-8608 or visit the website at

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