HAIFA, Israel--(BUSINESS WIRE)--April 20, 2004-- Pluristem Life Systems, Inc. (OTCBB:PLRS - News), a biotechnology company dedicated to the expansion of stem cells to address a myriad of fatal illnesses, today announced that the Company will commence animal model studies of its Hematopoietic stem cell expansion technology at the Weizmann Institute under the supervision of Professor Tsvee Lapidot.

Hematopoietic stem cells are precursors to all types of blood cells and are found in the bone marrow and umbilical cord blood. They have the distinctive capacity to self-renew, expand and evolve into different types of mature blood cells. These vital early stage hematopoietic stem cells are exclusively required for bone marrow transplantations and are the only cells that can reconstitute the hematopoietic system following bone marrow transplantation.

Professor Lapidot, a well-known expert in the field of Hematopoietic Stem Cells, was appointed as a scientific advisor for the Company. He will lead in conducting stem cell repopulation capabilities using the SCID-NOD model (immune deficient mice). The SCID-NOD mouse provides an excellent system and proven valuable tool for analyzing human Hematopoietic Stem Cells. "Pluristem has entered the last stage of pre-clinical trials and is very pleased to have the opportunity to conduct these trials at Weizmann Institute of Science, one of the top research institutions in the world. Professor Lapidot's background and experience, will assist in providing the most comprehensive and reliable results for submission to the FDA," stated Dr. Irit Arbel, CEO.

About Pluristem

Pluristem is a biotechnology company dedicated to the development of stem cell expansion technology. Pluristem's core technology is designed to expand hematopoietic stem cells from cord blood for bone marrow transplantations using the PluriX(TM) bioreactor. The unique quality of the PluriX(TM) Bioreactor is its ability to create a 3-D microenvironment that closely resembles the structure and function of the natural bone marrow environment. Upon successful development and regulatory approval, this technology should provide critical stem cell expansion services to cord blood banks and transplants centers in the U.S. and Europe.

For more information, visit the Company's website at: www.pluristem.com.

Safe Harbor Statement

Statements in this document that are not purely historical are forward-looking statements. Forward-looking statements in this release include statements regarding: our developing stem cell technology into a useful product that could address fatal illnesses, that our system can support the growth and reproduction of stromal cells to allow the expansion of hematopoietic stem cells from Cord Blood and that the PluriX bioreactor system creates a 3-D artificial physiological environment in which the stem cells can be expanded to quantities large enough for several adult transplants. Actual outcomes and our actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to complete its obligations under the stem cell license agreement, inability to finance the planned development of the technology, inability to obtain regulatory approval for commercial use of our products and unforeseen technical difficulties in developing the stem cell technology, which could among other things, delay or prevent product release. For further risk factors see Pluristem's filings with the SEC.

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Contact:

     DeMonte Associates
     Cynthia DeMonte, 212-605-0525
     cdemonte@demonte.com