BERKELEY, CA, March 11, 1999--BioTime, Inc. (Nasdaq:BTIM), announced that it had successfully completed its rights offer, raising approximately $7.3 million through the sale of 751,654 shares, which includes 250,000 shares that BioTime made available to fill over-subscriptions.

Because the rights offer was heavily over-subscribed, the shares available to fill over-subscriptions will be allocated on a pro rata basis.

``We are extremely gratified by the enthusiasm with which our shareholders greeted our rights offer,'' Dr. Paul Segall, BioTime's Chairman and Chief Executive Officer, stated. ``We see the large over-subscription as a sign of their confidence in BioTime's future.''

BioTime, headquartered in Berkeley, is engaged in the research and development of blood plasma volume expanders, blood replacement solutions during hypothermic (low temperature) surgery, organ preservation solutions and technology for use in surgery, emergency trauma treatment, the preservation of organs awaiting transplant, and other applications.

Contact:

BioTime, Inc.

Victoria Bellport, 510/845-9535