Lifebank Reports Record Profitabilty in Fiscal 2008

Lifebank Corp. ("Lifebank" or the "Company") (TSX VENTURE:LBK) is pleased to
announce that it has filed its audited financial statements for the year ended
May 31, 2008. The financial statements indicate net income before taxes of
$145,390, an improvement of 222% over the previous year, and operating cash
flows of $567,182 for the year, compared to $250,485 for the previous year, a
126% improvement.


Revenues for the year ended May 31, 2008 are $2,232,166 an increase of 8% over
the previous year.


At May 31, 2008, Lifebank has shareholders' equity of $202,847, compared to a
deficiency of $615,589 at the end of the previous year, and cash and cash
equivalents of $484,349 compared to $202,998 at May 31, 2007.


The financial statements and related management discussion and analysis are
available on the Company's website, www.lifebank.com, and on SEDAR at
www.sedar.com.


Lifebank is a biomedical service company that provides processing and cryogenic
(ultra low temperature) storage of umbilical cord blood stem cells. It is an
AABB accredited, Health Canada inspected and FDA registered facility. Lifebank
has successfully stored stem cell samples for clients in Canada, the United
States, Europe, Asia, the Middle East and the Caribbean. Lifebank is dedicated
to providing its clients with the finest cord blood stem cell processing,
analysis and cryogenic storage services available in the world. Lifebank strives
to work closely with physicians and public institutions in order to provide life
saving cord blood services to any and all persons in need.