HAIFA, Israel--(BUSINESS WIRE)--Oct. 27, 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 Dr. Shai Meretzki, Founder of the Company, has assumed the position of Acting Chief Executive Officer.

Dr. Meretzki, the developer of the PluriX(TM) bioreactor, with the Board of Directors' total approval and support, realized and felt it critical that he effectuate the Company's original goals: growth through a merger and acquisition strategy, formulation of strategic partnerships, long term funding, expanded exposure in the investment community and expedited entry into the clinical trial phase. As founder, developer of the proprietary technology, and one the group of renowned scientists that placed their full faith in Pluristem's future by transferring patent rights to the Company, Dr. Meretzki's personal and professional life's mission is to bring the technology through the clinical trial phases to market while generating revenue for the company and its investors. His plans also include recruiting the "best of breed" American biotechnology and pharmaceutical executives to join the Company's management team. Dr. Mendi Ze'evi completed his term as CEO.

Doron Shorrer, "Chairman of the Board," commented, "There is no one who places the best interests of Pluristem above all else than Shai Meretzki. His knowledge of the technology, the industry, and the Company are unmatched. The Board is gratified that Dr. Meretzki approached us with such vigor and is completely devoted to executing this task. We place our complete confidence in him as he did in the future of Pluristem and look forward to concrete progress."

Additionally, national and international attention concerning stem cells is widening with one recent announcement on October 19th, 2004 indicating that "California Governor endorses $3 billion bond to fund stem cell research..."(AP). Doron Shorrer continued his comments: "This announcement only continues to reinforce the Company's belief that the PluriX(TM) technology is part of this great wave of the future."

About Pluristem

Pluristem is a biotechnology company dedicated to the development of stem cell expansion technology. The Company is concentrating on the expansion of cord blood hematopoietic stem cells (blood and immune system cells) to provide vital stem cell expansion services to blood banks and transplants centers in the U.S. and Europe.

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 growth through a merger and acquisition strategy, formulation of strategic partnerships, long term funding, expanded exposure in the investment community and expedited entry into the clinical trial phase, attraction of good management and scientific staff, and our belief that PluriX technology is part of the future of stem cell technology. Actual outcomes and our actual results could differ materially from those in such forward-looking statements, for reasons including inability to fund our operations, failure of our technology to prove effective or safe, competition with better or cheaper products, and inability to attract staff, all of which could materially change our plans and our company. For further risk factors see the Company's latest 10-KSB filed with the SEC.