HAIFA, Israel--(BUSINESS WIRE)--Aug. 24, 2004-- Pluristem Life Systems, Inc. (OTCBB:PLRS - News), a biotechnology company dedicated to the expansion of stem cells from umbilical cord blood to address a myriad of fatal illnesses, today announced that the Company has retained Dr. Avraham (Avi) Treves, a worldwide leader in the field of stem cell research and development, to collaborate on its development efforts.

Dr. Treves' remarkable background includes founding and acting as CEO of a stem-cell biotech company. Additionally, he leads industry and academic R&D programs in cell therapy, immunology, hematology and oncology; and possesses proven skills in business development, IP issues and fund raising. Dr. Treves has executed licensing, research and clinical study agreements, holds 7 patents and has been published in over 80 scientific publications.

Dr. Treves is Executive Deputy of Sheba Cancer Research Center. Prior to his tenure at Sheba, he acted as Founder, President and Chief Executive Officer of Gamida-Cell Ltd. which focused on stem cell technology and biopharmaceuticals. At Gamida-Cell, Dr. Treves raised $20 million, completed pre-clinical trials of the Company's proprietary product (a stem cell biopharmaceutical product for the treatment of malignant diseases), obtained FDA IND approval to start clinical trials in the U.S., interacted with the FDA, negotiated international agreements, and actively participated in scientific research. He also acted as Deputy General Manager for Business Development, Cell Therapy and Pharmaceuticals at Gamida for Life Group.

Dr. Treves was Managing Director of ICL Pharma & R&D Fund where he initiated and managed a new medical investment fund. Prior to ICL, Dr. Treves founded and was Chief Executive Officer of HADASIT, Head, Division of R&D of the Hadassah Medical Organization, Manager, Oncology Research and Service Laboratory of Sharett Institute of Oncology, and a Post-Doctoral Fellow in Cancer Immunology at Stanford University Medical School.

Dr. Treves holds a combined B.Sc./M.Sc. in Microbiology from Tel Aviv University, and a Ph.D. in Immunology from the Weizmann Institute of Science. He is an active member of the American Society of Hematology and the American Society of Clinical Oncology.

"Our development efforts will be greatly enhanced and accelerated by Dr. Treves' expertise. He is a pioneer and entrepreneur whose knowledge and history of 'moving' stem cell research companies and products to the next stage are clearly evident. As we embark on our stem cells product development plan and continue to strive toward the clinical trial phase, we are confident that Dr. Treves will contribute greatly to our success," stated Mendi Ze'evi, Chief Executive Officer.

About Pluristem

Pluristem strives to become a leading biopharmaceutical company developing, producing and marketing stem cell products for cell regenerative therapy. Pluristem's platform for expanding stem cells offers breakthrough technology and multiple product opportunities in many therapeutic areas.

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

Safe Harbor Statement

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Pluristem Life Systems, Inc., and members of our management as well as the assumptions on which such statements are based. Forward-looking statements in this release include statements regarding our developing stem cell technology into a useful product which, among other things, can treat fatal illnesses and obtaining patent protection in the US and worldwide for our technology. Actual outcomes and our actual results could differ materially from those in such forward-looking statements. For further risk factors see the Company's latest 10-KSB filed with the SEC.