BIOTIME FURTHER EXTENDS EXPIRATION DATE OF SUBSCRIPTION RIGHTS OFFER

BERKELEY, Calif.--Jan. 6, 2004--BioTime, Inc. (AMEX:BTX) announced that it has extended the expiration of its subscription rights offer from January 8, 2004 to 5:00 p.m. New York City time on January 15, 2004.

Properly completed and executed subscription certificates accompanied by the subscription price or a properly completed notice of guaranteed delivery must be received by the subscription agent, American Stock Transfer & Trust Company, by the new expiration date to be valid. The subscription agent will not honor a notice of guaranteed delivery unless a properly completed and executed subscription certificate and full payment for the units subscribed is received by the subscription agent by the close of business on January 21, 2004, the third business day after the new expiration date.

Subscription certificates and notices of guaranteed delivery should be delivered to the subscription agent by one of the following means:

(1) By mail or by hand:
American Stock Transfer & Trust Company
59 Maiden Lane, Plaza Level
New York, New York 10038

(2) By express mail or overnight courier:
American Stock Transfer & Trust Company
Exchanges and Tenders
59 Maiden Lane, Plaza Level
New York, New York 10038

(3) By facsimile (telecopier):
(718) 234-5001

You should confirm that your facsimile has been received by contacting the subscription agent by telephone at 1-877-248-6417. If you deliver your subscription certificate by telecopier, you must send the original subscription certificate to the subscription agent by mail or hand delivery.

We suggest that you send the subscription funds by wire transfer to American Stock Transfer & Trust Company, Subscription Agent, JP Morgan Chase Bank WIRE CLEARING ACCOUNT ABA #021000021, Account 323005225, Attention: Reorg. Dept.

Do not send subscription certificates, notices of guaranteed delivery, or subscription funds to BioTime.

BioTime, headquartered in Berkeley, Calif. develops blood plasma volume expanders, blood replacement solutions for hypothermic (low temperature) surgery, organ preservation solutions and technology for use in surgery, emergency trauma treatment, and other applications. Information about BioTime can be found on the web at www.biotimeinc.com.

--------------------------------------------------------------------------------
Contact:
BioTime, Inc.
Judith Segall, 510/845-9535