BERKELEY, CA, March 24, 1999--BioTime, Inc. (Nasdaq:BTIM) announced the proration of shares available for sale to persons who exercised the over-subscription privilege in BioTime's recently completed rights offer.

The rights offer was heavily over-subscribed. The holders of 5,318,099 shares requested more than 1,000,0000 shares through the exercise of the over-subscription privilege. However, only 270,085 shares were available to fill over-subscriptions.

Shareholders who properly exercised the over-subscription privilege were allocated over-subscription shares based upon the ratio of the number of rights issued to them. Each shareholder was issued one right for each BioTime share they owned.

On the average, shareholders who exercised their over-subscription privilege were able to purchase in the rights offer (including the shares issued upon the exercise of the rights issued to them and the shares purchased through the over-subscription privilege) a total number of shares equal to approximately 11.7% of the number of shares they owned before the rights offer.

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