H&Q Life Sciences Investors (NYSE: HQL) (the “Fund”) announced today, following the death of a long-time Trustee, Lawrence S. Lewin, that the Board of Trustees has reduced the number of Trustees from eight to seven, in accordance with the Fund’s Declaration of Trust, as amended. H&Q Life Sciences Investors (NYSE: HQL) is a closed-end fund that invests in public and private companies in the life sciences industry. Hambrecht & Quist Capital Management LLC, based in Boston, serves as investment adviser to the Fund. Shares of the Fund can be purchased on the New York Stock Exchange through any securities broker. For additional information, please visit www.hqcm.com or call (617) 772-8500.