Operations to commence in India, new laboratory being built in Belgium and acquisition of its South African distributor

Cryo-Save Group N.V. (AIM: CRYO, “Cryo-Save” or “the Group”), Europe’s largest adult stem cell storage bank, has established an Indian operation, Cryo-Save India Private Ltd ("Cryo-Save India"), will build a new storage laboratory in Belgium and has acquired its South African distributor CRYOCLINIC (Pty) Ltd ("Cryoclinic").

Establish operations in India

Cryo-Save has established a wholly-owned subsidiary Cryo-Save India in Bangalore, India as it implements its strategy to develop in the faster growing economies worldwide. In India there is a rapidly growing awareness of the benefits of stem cells in medicine. During 2008 the Group will invest around €2m in its Indian operation which is expected to be earnings enhancing in 2009. It is the first investment by the Group in Asia.

Cryo-Save India has signed a rental contract for a 8,200 sq.ft facility to house the processing, testing and storage facilities as well as the business’ administration requirements. The Group’s experience and industry knowledge of building state of the art stem cell processing facilities will allow the installation and the procedures to be installed rapidly and in full compliance with all international standards.

New storage laboratory in Belgium

Cryo-Save will build a new state of the art facility, including the highest standards in quality, safety and security, for a total investment of €5.5m in a business park developed by the Antwerp University. The 4,500 sq. metre building will become the largest private tissue bank in Europe and will handle the storage of the Group's biological samples. It will also host an R&D department and several clean rooms for the production and expansion of cells for diagnostic or therapeutic applications.

The processing facility is expected to be operational in the third quarter of 2009.

The Group already operates four other processing facilities in Belgium, Germany (two) and Dubai. It is the only operation with a global strategy to develop a network of processing and storage facilities to meet local demand whilst complying with logistics or export limitations.

Acquisition of South African distributor

The Group has continued to implement its strategy of acquiring business partners with the purchase of the remaining 50% of the shares in its South African joint venture CRYOCLINIC for €440,000. The company operates in the Durban area although stem cells samples are stored in the Group's Belgium laboratory. The existing management will continue to run the business. Cryo-Save expects the acquisition to be earnings enhancing with immediate effect.

Rob Koremans, Chief Executive, commented:

“We are particularly excited by the opportunities to grow the business swiftly in India as part of our strategy to develop the Group beyond Europe. Our market research indicates that the rapidly expanding middle classes in India are now looking to have stem cell storage facilities locally available.”

The Group expects to publish its preliminary results for the year to 31 December 2007 and its first quarter storage figures on 8 April 2008.

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