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NeoStem Announces Conversion of Convertible Preferred Stock by Principal Shareholder
Date:5/20/2010

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"This decision by RimAsia also reflects our encouragement from the rapid expansion, successful pursuit, and strong execution of NeoStem's business strategies on multiple fronts by management. We are also impressed with the Company's outlook and especially the recent partnership with the Pontifical Council for Culture, which we believe will leapfrog NeoStem to the forefront of the stem cell community," added Mr. Wei. "This collaboration with the Pontifical Council for Culture highlights the quality of NeoStem's technology and we are delighted to be able to provide our further support through the conversion of the Series C Preferred."

"We appreciate RimAsia's ongoing support of our endeavor to leverage our adult stem cell technologies to revolutionize the treatment paradigm for a wide range of disease. We are excited about our recent collaboration with the Pontifical Council for Culture, which validates our leadership and strategy in the stem cell field," said Robin Smith, M.D., NeoStem's CEO and Chairman of the board of directors. "The Company has transformed significantly over the past year to become a sophisticated international biopharmaceutical company with multiple commercial revenue streams. We thank RimAsia and all of our shareholders for the continued support in NeoStem to grow our adult stem cell platform in the U.S. and China, and to expand the capacity of our majority-owned Suzhou Erye subsidiary in anticipation of the significant growth in China's pharmaceutical market."

About NeoStem, Inc.

NeoStem, Inc. is engaged in the development of stem cell-based therapies, pursuit of anti-aging initiatives and building of a network of adult stem cell collection centers in the U.S. and China t
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SOURCE NeoStem, Inc.
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