NPBI MANUFACTURES BIOTIME'S HEXTENDŽ FOR EUROPEAN APPROVAL

BERKELEY, CA, JANUARY 11, 2000 _ BioTime, Inc. (BTX-AMEX) announced today the first European production of HextendŽ for use in tests needed for regulatory approval in the European Union. Hextend, BioTime's physiologically balanced blood plasma volume expander, was manufactured for BioTime by NPBI International BV of the Netherlands. The solutions were manufactured under a joint development program between BioTime and NPBI aimed at gaining regulatory approval for Hextend in Europe and other parts of the world. NPBI is a manufacturer of large volume parenteral solutions sold worldwide.

NPBI and BioTime are conducting stability and related tests for BioTime's regulatory applications. BioTime plans to file for European regulatory approval this year. BioTime and NPBI are negotiating the terms of a long term manufacturing agreement. BioTime is in discussion with internationally-based corporations regarding arrangements to market Hextend outside the United States and Canada, and is approaching agreement to license its products in certain of these areas.

BioTime, headquartered in Berkeley, California 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.

The matters discussed in this press release include forward-looking statements which are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated. Such risks and uncertainties include but are not limited to BioTime's ability to obtain regulatory approval to market its products; competition from products manufactured and sold or being developed by other companies; the price of and demand for its products; the ability to negotiate favorable foreign licensing or other manufacturing and marketing agreements for its products; the availability of ingredients used in its products; and the availability of reimbursement for the cost of new products (and related treatment) from government health administration authorities, private health coverage insurers and other organizations. These and other risk factors are discussed in BioTime's Annual Report on Form 10-K filed with the Securities and Exchange Commission.

Contact:

BioTime, Inc.

Victoria Bellport, 510/845-9535