( BW)(BIOTIME)(BTIM)(BTM) BioTime to Raise $3,000,000 to $6,000,000

in Rights Offering





   Business Editors and Health/Medical Writers





   BERKELEY, Calif.--(BUSINESS WIRE)--Dec. 5, 1996--BioTime, Inc.

(NASDAQ:BTIM)(BSE:BTM) announced today that it has filed a

registration statement with the Securities and Exchange Commission to

sell additional common shares through a rights offering to its

existing shareholders.



   BioTime has set Dec. 27, 1996 as the tentative record date for

determining shareholders entitled to receive the rights.  The

subscription price per share, the subscription ratio, and the exact

number of shares to be offered through the rights offering have not

yet been set.



   The Company expects to offer not more than 300,000 shares at a

subscription price per share that will not be greater than 80% of

the average of the last sale price of the common shares in the

Nasdaq Small Cap Market for the last five trading days preceding the

commencement of the offer.



   The rights offering will provide BioTime the opportunity to

raise between $3,000,000 and $6,000,000 of additional capital

(depending upon the subscription price and the number of shares

offered) without diluting the ownership interests of existing

shareholders who exercise their rights, and without paying

underwriting commissions and expenses.



   Shareholders who exercise their rights will be able to purchase

shares at a price below market, without incurring broker's

commissions, and will be able to maintain their prorata share of the

Company's equity.



   The distribution of the rights and commencement of the offer

will not occur until the registration statement becomes effective.

The expiration date of the rights will not be set until the

distribution date of the rights has been determined.



   The rights will be freely tradeable, and BioTime expects that

the rights will be listed for trading on the Nasdaq Small Cap Market.

The Company expects that the rights will trade for 21 days or longer

if the offer is extended.



   A registration statement relating to these securities has been

filed with the Securities and Exchange Commission but has not yet

become effective.  These securities may not be sold nor may offers

to buy be accepted prior to the time the registration statement

becomes effective.



   This communication shall not constitute an offer to sell or the

solicitation of an offer to buy nor shall there be any sale of these

securities in any state in which such offer, solicitation or sale

would be unlawful prior to registration or qualification under the

securities laws of any such State.



   A copy of a written prospectus may be obtained from the

Secretary of BioTime, 935 Pardee St., Berkeley, Calif. 94710 after

the registration statement becomes effective.



   BioTime, with headquarters in Berkeley, Calif., is engaged in

the research and development of synthetic blood plasma volume

expanders and low temperature blood substitute 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