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BioTime Commences Warrant Discount Offer

BioTime, Inc. (NYSE Amex: BTIM) announced today that it is commencing a warrant discount offer under which it will permit holders of its common share purchase warrants expiring October 31, 2010 to exercise their warrants at a discounted price of $1.818 per share, which represents a discount of $0.182 from the regular warrant exercise price of $2.00 per share. The discount offer will expire at 5:00 p.m., New York time, on August 18, 2010. After the expiration of the discount offer, the exercise price of the warrants will revert to $2.00 per share. BioTime presently has 7,574,801 of the warrants outstanding, which are presently listed on the NYSE Amex and trade under the symbol BTIM.WS.

Properly completed warrant certificates and notices of guaranteed delivery should be delivered to the Warrant Agent, American Stock Transfer & Trust Company, by hand, mail, express mail, or overnight courier at the following address:

        American Stock Transfer & Trust Company
Attn: Reorganization Department
6201 15 th Avenue
Brooklyn, New York 11219

Alternatively, for purposes of the discount offer, an exercise of warrants will be accepted by the Warrant Agent if, prior to the discount offer expiration time, the Warrant Agent has received a notice of guaranteed delivery by facsimile telecopy or otherwise from a bank, a trust company, or a New York Stock Exchange member guaranteeing delivery of (1) payment of the exercise price for the shares for which the warrant is being exercised, and (2) a properly completed and executed warrant certificate. The notice of guaranteed delivery must be received by the Warrant Agent before the discount offer expiration time. The Warrant Agent will not honor a notice of guaranteed delivery unless a properly completed and executed warrant certificate and full payment for the shares is received by the Warrant Agent by the close of business on the third business day after the discount offer expiration time.

We suggest that you send funds for the payment of the warrant exercise price by wire transfer to American Stock Transfer & Trust Company, Warrant Agent, JP Morgan Chase Bank WIRE CLEARING ACCOUNT ABA #021000021, Account 530354624, Attention: Reorg. Dept.

Questions regarding the procedure for exercising warrants in the discount offer should be directed to the American Stock Transfer & Trust Company, Reorganization Department, at 1-800-937-5449.

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