Lifebank Becomes the First and Only Canadian Cord Blood Bank To Achieve Industry-Leading FACT Accreditation

Lifebank Corp. ("Lifebank" or the "Company") (TSX VENTURE:LBK) announced today
that it has become the first and only cord blood bank in Canada to earn the
industry's highest accreditation from the Foundation of Accreditation of
Cellular Therapy ("FACT").


FACT accreditation is considered the gold standard of quality, performance and
integrity by a defined group of leading experts in the field of cord blood
banking. Lifebank is now fully FACT accredited by demonstrating compliance with
the NETCORD-FACT International Standards for Cord Blood Collection, Processing,
Testing, Banking, Selection and Release.


"FACT accreditation has evolved into an all-but-necessary qualification for a
cord blood bank in North America to be accepted as a leader in the field of
cellular therapy," says Ernest Stacey, Lifebank President & CEO. We believe FACT
accreditation, together with our existing AABB accreditation, Health Canada and
FDA registration, reflects our commitment to achieve the highest standards and
quality of service for our clients."


Dr. Anil Mangal, Lifebank Medical Director, a Fellow of the Royal College of
Physicians of Canada in Hematology and currently Clinical Assistant Professor in
the Department of Pathology & Laboratory Medicine at the University of British
Columbia Faculty of Medicine, said, "While every cord blood organization must
comply with a regulatory agency, very few have achieved the status of FACT
accreditation. Indeed, this achievement confirms the reputation Lifebank has
earned as a leader in the cellular therapy community, by the most specialized
medical professionals."


The qualification process required to achieve FACT accreditation is rigorous,
from submission of detailed, documented evidence demonstrating thorough
compliance with FACT's extremely discerning standards to a complete on-site
inspection. For Lifebank, the FACT on-site inspection was conducted in September
2009 by three FACT inspectors over a two day period.


FACT Medical Director, Dr. Phyllis Warkentin, confirms Lifebank's compliance
with FACT standards. "We are pleased that Lifebank has met the requirements of
the Foundation and has been granted accreditation for Autologous and Allogeneic
Directed services."


Having achieved FACT accreditation, Lifebank now sets an important standard to
which all cord blood banks should comply.


ABOUT FACT

In December 1994, the International Society for Cellular Therapy (ISCT) and the
American Society for Blood and Marrow Transplantation (ASBMT) merged their
Standards into a single document covering all aspects of hematopoietic cell
therapy (collection, processing, and transplantation). The two societies
established FACT in order to develop a voluntary Inspection and Accreditation
Program based on the joint Standards. FACT promotes quality medical and
laboratory practice of cellular therapy through its peer-developed standards and
voluntary inspection and accreditation program.


In 2000, recognizing the global impact of cord blood banking and
transplantation, FACT partnered with NetCord to develop international standards
for cord blood collection, processing, testing, banking, selection and release.
The NetCord foundation is an international network of non-profit public cord
blood banks created to promote the establishment of high quality cord blood
banks and improve the quality of cord blood products through study and research.


The FACT Inspection and Accreditation Program was developed by Dr. Phyllis
Warkentin, FACT Medical Director, the FACT Directors and Officers, as well as
the ISCT and ASBMT Regulatory and Standards Committees. The first edition of the
NetCord-FACT Standards was published in 2000.


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. Lifebank is a publicly traded company on the TSX Venture
Exchange, under the symbol 'LBK'.