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Bio-Matrix Scientific Group Inc. Issues Update on Stem Cell Cryogenic Banking Facility.

SAN DIEGO -- Bio-Matrix Scientific Group Inc. (OTCBB:BMSN), a biotechnology company focused on stem cell cryogenics and disposable stem cell / tissue transfer instruments, is pleased to present its shareholders and prospective shareholders with an update on the Company's 15,000 sq ft. Bio-Matrix Stem Cell Banking and Cord Blood Banking facility.

The following is a timeline of the Company's progress towards opening Its Stem Cell and Cord Blood Cryogenic Banking Facility. Events prior to July 3, 2006 refer to actions taken by BMSN's wholly owned subsidiary prior to its acquisition by BMSN:

September 12, 2005 - Bio-Matrix signs lease on a former Red Cross facility. The facility was originally one of the American Red Cross' FDA state-of-the-art national testing laboratories linking the centralized Red Cross Blood Service regions to the world's largest blood donor database and inventory blood systems.

December 2005 - Construction of new and fixed walls, doors, and painting for cryogenic labs completed.

January 2006 - Installation of the new 2000 L Perma-Cyl Liquid Nitrogen tank completed. Construction of out-side retainer pads and brick walls completed.

February 2006 - Completed construction and installation of Vacuum Jacketed Liquid Nitrogen tank. The inside cryogenic labs were also completed.

March 2006 - 2 cryogenic labs completed, including computer card secure locking systems and installation of air control monitors.

April 2006 - Construction, painting, and flooring of class 100,000 research labs, including secure locking systems and installation of air control monitors, completed.

June 2006 - Flow cytometry lab completed with secure locking systems and installation of air control monitors completed.

July / August 2006 - Bio-Matrix selects Clean Rooms West as the prime contractor for the design, development, builder and installation of the Class 10,000/100 Processing Laboratory.

September 18, 2006 - Anticipated installation of Class 10,000/100 processing labs begins - including installation of the electrical, HVAC, plumbing, and controls. The Company believes the installation will be completed in October 2006.

This press release is available on the company's official online Investor Relations HUB at http://www.agoracom.com/IR/Bio-Matrix for investor questions, answers and monitored commentary. Alternatively, investors are able to e-mail all questions and correspondence to BMSN@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.

About Bio-Matrix Scientific Group Inc. (OTCBB:BMSN)

Bio-Matrix Scientific Group Inc. (www.BMXGonline.com) is a biotech research and development Company that commercializes medical devices and monitoring systems for the growing, worldwide stem cell research market.

The Company aligns itself with strategic partners that offer key technologies in biomedical device development, tissue engineering, cell culturing, genome therapy and drug delivery systems to become a leading source for stem cell research technology and innovation and is building a state-of-the-art facility in San Diego, California, to cater to the growing stem cell research segment of the $75 billion biotechnology and medical device industry.

Disclaimer: This news release may contain forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.
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Publication:Business Wire
Date:Sep 7, 2006
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