Cryo-Save Group N.V. (AIM: CRYO, "Cryo-Save" or "the Group"), Europe's largest adult stem cell storage bank, announces that it has acquired its Hungarian distributor, Sejtbank.

Cryo-Save has agreed to acquire a 70% interest in its Hungarian distributor Sejtbank Egeszsegugyi Szolgaltato Korlatolt Felelossegu Tarsasag (“Sejtbank”) and Sejtbank’s subsidiary in the Czech Republic, Archiv Bunek s.r.o. (“AB”), for an initial consideration of €3.25 million payable in cash on completion. The vendors have an option to put the outstanding 30% of Sejtbank to Cryo-Save for a sum of €1.4 million plus a performance bonus based on revenue growth.

The terms of the acquisition also provide for the vendors to waive all rights to dividends on the 30% of shares still held by them, in lieu of which they will receive an annual payment of 3% of the combined total revenues of Sejtbank and AB for a maximum of 30 years. Should the put option be exercised, this payment will cease. The total consideration under the agreement has been capped to avoid the need for shareholder approval.

The Directors expect the acquisition to be earnings enhancing with immediate effect and completion is due to be in early March 2008.

As stated at the time of its Admission to AIM, Cryo-Save’s strategy is to broaden and deepen its coverage in both existing and new geographic markets, either by acquisition or in conjunction with a minority partner, while also building on its 50% European market share through effective marketing and new product launches.

Sejtbank is a fast growing, leading Hungarian reseller of the Group's services that continues to outperform the local market. In 2006 Sejtbank’s reported revenues of €2.3 million and profits before taxation of €0.4 million under Hungarian GAAP. Estimated adjustments prepared under IFRS for financial year 2007 would show revenues of €4.5 million and profits before taxation of €0.6 million.

Cryo-Save has also completed a number of small acquisitions since its Admission. The Group purchased the 30% minority share of its Italian subsidiary Cryo-Save Italia Srl., and completed the acquisitions of Output Pharma Services GmbH and Stemcell GmbH in Germany, enhancing its presence in this growing and important market.

For further details:

Cryo-Save Group                                         + 31 (0)575 548998
Rob Koremans, Chief Executive
Arnoud van Tulder, Chief Financial Officer

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Jos Trusted/Marc Young

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Adrian Duffield/Jon Davies