Lifeline Biotechnologies Updates Status of DTC Clearing Services

Lifeline Biotechnologies, Inc. (Pink Sheets: LLBO) announced today that it continues efforts to resolve the trading issue with Depository Trust Corporation (DTC) in order to re-establish clearing services.

Jim Holmes, Lifeline’s CEO, said, “We continue to work with our legal counsel with concerted effort to re-establish clearing services with Depository Trust Corporation (DTC). It is very difficult to determine when this issue will be resolved. We ask for and appreciate stakeholders' continued patience.”

Holmes went on to say, “Though the trading volume and stock price, as quoted in the public market, have declined as a result of the DTC situation, the intrinsic value of Lifeline has not fallen. Additionally, we continue to make meaningful progress with our FDA consulting firm, in particular, defining our regulatory strategy. We have a definition as to the suggested alternatives available and the related requirements to submit for a Class II medical device 510(k) clearance.”

Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, the ability to obtain financing, successful development of the Company's product or market acceptance of the product and regulatory and shareholder approval for anticipated actions.