( BW)(BIOTIME)(BTIM) BioTime Raises Over $5.6 Million in Rights

Offering; Rights Offering Heavily Over-Subscribed





   Business Editors and Health/Medical Writers





   BERKELEY, Calif.--(BW HealthWire)--Feb. 5, 1997--BioTime Inc.

(NASDAQ:BTIM) announced that it had successfully completed its

rights offering, raising approximately $5.6 million through the sale

of 283,109 common shares.



   Because the rights offering was heavily over-subscribed, it

appears that very few, if any, of the $6.8 million of

over-subscriptions will be filled.  In addition, BioTime received

approximately $763,000 through the exercise of certain warrants.



   Dr. Paul Segall, BioTime's president and chief executive

officer, stated: "The offering permitted share holders to maintain

their equity position at a share price considerably below market,

without paying underwriting fees or commissions.  As a sign of our

own confidence in BioTime's future, every member of the BioTime Board

of Directors participated fully in the rights offering by exercising

all of their rights."



   BioTime, headquartered in Berkeley, is engaged in the research

and development of synthetic blood plasma volume expanders and

technology for use in surgery, emergency trauma treatment, the

preservation of organs awaiting transplant, and other applications.



   CONTACT: BioTime Inc., Berkeley

             Victoria Bellport, 510/845-9535