Torc Investments and Research Initiates Coverage of Clearant With a Buy Rating and 12-Month Target of $2.00 to $2.50 Per Share.

LOS ANGELES -- Please replace the release due to multiple revisions in the first graf with the following corrected version.

The corrected release reads:

TORC INVESTMENTS AND RESEARCH INITIATES COVERAGE OF CLEARANT WITH A BUY RATING AND 12-MONTH TARGET OF $2.00 TO $2.50 PER SHARE

Clearant, Inc. (OTCBB:CLRI) announced today that Torc Investments and Research, a member of the NASD, has initiated coverage of Clearant with a "Buy" rating and 12-month price target range of $2.00-$2.50 per share.

The report, issued by Torc Director of Research Amanda McNamara, cited the fact that, "CLRI's proprietary and patented CLEARANT Process gives the company a competitive advantage over its competitors since all CLEARANT PROCESS-treated tissue can come with a "100% Sterile" label."

It also noted that, "While Clearant currently has a market capitalization of approximately $28 million, the average valuations enjoyed by three other public allograft processors are approximately $118 million. Since we believe that CLRI has a competitive advantage with its sterilization process and should be able to win significant market share away from its competitors, its market valuations should approach those of its competitors in the future."

"We are pleased that Torc's report reflects the opportunities available to Clearant," said Alain Delongchamp, Clearant's chief executive officer. "Soon, we will be providing the investment community with additional details on our direct distribution strategy, designed to accelerate the sales cycle for our sterile implants. We remain confident that the recently hired territory representatives will increase sales of our products."

To receive a copy of the Report, contact Amanda McNamara at 212-897-7317.

About Clearant, Inc.

Clearant, Inc. is a leader in pathogen inactivation for biological products. Clearant has developed the patent-protected CLEARANT PROCESS, which substantially reduces all types of pathogens in biological products while maintaining the functionality of the underlying protein. The Company plans to distribute directly to surgeons, hospitals and clinics CLEARANT PROCESS sterile implants starting mid 2006; in addition, Clearant continues to license the CLEARANT PROCESS and provides its patented sterilization services to tissue banks and other biological products manufacturers. As of the end of 1Q 2006, Clearant had 10 license and service agreements with tissue banks. To-date more than 8,000 patients have been successfully implanted with a CLEARANT PROCESS sterile implants supplied by one of the Company's licensed partners. Whereas various competing sterilization methods only kill specific types of pathogens (such as bacteria or lipid-enveloped viruses) for specific products, the CLEARANT PROCESS reduces all types of pathogens for products across many market segments including tissue implants, plasma proteins, recombinant products, medical devices and blood products. Also, the CLEARANT PROCESS can be applied at various stages of product processing and/or manufacturing, including in the final packaging. For more information, please visit www.clearant.com.

Forward-Looking Statements

Except for statements of historical fact, the matters discussed in this press release are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, in particular statements regarding the ability of the Company's direct sales force to penetrate the market for sterile implants, and plans to hire additional sales representatives. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control, which may cause actual results to differ materially from stated expectations. These risk factors include, among others, limited operating history, difficulty in developing, exploiting and protecting proprietary technologies, results of additional clinical studies, efficacy of the technology, intense competition and substantial regulation in the biotechnology industry, and additional risks discussed in the company's filings with the SEC, available on the SEC web site http://www.sec.gov. Clearant has compensated Torc with a fee of thirty-five thousand dollars to provide one year of independent research coverage.