Lifebank Appoints New Chief Financial Officer

   Lifebank Corp. ("Lifebank" or the "Company") (TSX VENTURE: LBK) announced today the appointment of Jeff Charpentier as Chief Financial Officer. Mr. Charpentier assumes his new role effective November 5, 2010.

Mr. Charpentier is an experienced financial executive who, over the past 15 years, has led the financial and fiscal management aspects of several Canadian publicly traded companies.

"Jeff is a great addition to our executive team and brings strong financial acumen to his new role," says Lifebank President and CEO Ernest Stacey. "He has a proven track record of financial expertise, and will play a key role in the Company's financial and strategic initiatives."

Mr. Charpentier graduated from the University of British Columbia, Bachelor of Commerce, and is a Chartered Accountant (CA) of the Institute of Chartered Accountants of British Columbia.

Mr. Charpentier replaces Mr. Owen Granger. Effective today, Mr. Granger resigns as a Director and Chief Financial Officer and Secretary Treasurer of Lifebank.

About Lifebank.

Started in 1996, Lifebank is a leading national company in the biomedical field. Based at the British Columbia Institute of Technology campus in Burnaby, Lifebank provides processing and cryogenic (ultra low temperature) storage of umbilical cord blood stem cells for families in Canada and world-wide. A full description of the advantages and benefits of storing the stem cells from an infant's umbilical cord can be found on the Company's website at www.lifebank.com.

On January 21, 2004, Lifebank received official accreditation from the international organization AABB and was the first accredited cord blood stem cell bank in Canada. In February 2010, celebrating another milestone in Cellular Therapy and Transplant Medicine, Lifebank has achieved the globally recognized FACT accreditation.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts: Lifebank Corp. F. Ernest Stacey President & CEO 604-738-2722 or Toll Free 1-888-888-7836 604-738-2726 (FAX) [e-mail] www.lifebank.com