ASX Share Offer Closes

Stem Cell Sciences plc
03 April 2007


3 April, 2007

             Stem Cell Sciences Closes Share Offer Over Subscribed

Stem Cell Sciences plc (LSE:STEM), the global biotechnology company focused on
the commercialisation of stem cells and stem cell technologies in research and
cell-based therapies, is pleased to announce that it has closed its share offer
ahead of plans following strong demand from investors. The offer has been
heavily oversubscribed.

Stem Cell Sciences has raised AU$12 million (£4.94 million*) through the issue
of 11.2 million shares in the form of CHESS Depositary Interests (CDIs)** at
$1.07 (£0.44). The Company is expected to list on the Australian Stock Exchange
on 12 April, using the code STC, with a post-listing market capitalisation of
AU$49.6 million (£20.41 million), based on SCS's closing price in the UK on
April 2. Stem Cell Sciences' shares will continue to be traded on the
Alternative Investment Market of the London Stock Exchange.

"We are delighted with the response to the share offering and welcome the
support from both existing and new shareholders in the company, including
several notable institutional investment groups,"
said Dr Peter Mountford, CEO of Stem Cell Sciences.

"As the listing on the ASX is completed, we look forward to continuing to build
our revenue generating business units and expand our activities in the USA while
conducting early stage testing on our stem cell therapy pipeline. We are well
positioned to take advantage of the expanding markets in the stem cell field in
line with the objectives set out in the Prospectus," he continued.

                                    - Ends -

* Exchange rate used is £1 = AU$2.43

** CHESS Depositary Interests - The main difference between holding CDIs and
Shares is that the holder of CDIs has beneficial ownership of the underlying
Shares instead of legal title. CHESS Depositary Nominees Pty Ltd, a wholly owned
subsidiary of ASX, holds the legal title to the underlying Shares. Holders of
CDIs will have the same economic benefits of holding the underlying Shares. In
particular, holders of CDIs will be able to transfer and settle transactions
electronically on the ASX.

Except for historical information, this news release may contain forward-looking
statements that reflect the Company's current expectation regarding future
events. These forward looking statements involve risk and uncertainties, which
may cause but are not limited to, changing market conditions, the successful and
timely completion of clinical studies, the establishment of corporate alliances,
the impact of competitive products and pricing, new product development,
uncertainties related to the regulatory approval process, and other risks
detailed from time to time in the Company's ongoing reporting.

For further information, please contact:

Stem Cell Sciences
Peter Mountford, President and CEO                                 0131 662 9829
Hugh Ilyine, Vice President and Chief Operating Officer
Sue Furber, Director of Finance & Company Secretary

Weber Shandwick Financial
Louise Robson                                                      020 7067 0700
James White

Notes to Editors
Stem Cell Sciences plc (SCS, AIM: STEM) is a global biotechnology company,
established in Melbourne, Australia in 1994, providing products in the
burgeoning stem cell research and drug discovery markets, in addition to the
targeted development of cell-based therapies for neurodegenerative disease and
injury.

The Company has established a leading intellectual property (IP) and technology
portfolio that enables the commercial application of stem cells in drug
discovery, providing the Company with early-stage revenue streams and technology
development for at scale cell production of SCS cell-based therapeutics. SCS
principal focus is in neurological disease. Revenues in the neurotech market,
including pharmaceuticals, devices and diagnostics, grew 10% in 2005 to US$110
billion (Neurotech Insights, Volume 2/3 April 30 2006).

SCS operates as a group of independent operations with offices and laboratories
in Edinburgh and Cambridge, UK, Kobe, Japan, Melbourne, Australia and San
Francisco, USA (office only). Each SCS facility is affiliated with an academic
centre of excellence. These include the Institute of Stem Cell Research (ISCR),
Edinburgh, UK, RIKEN Centre for Development Biology, Kobe, Japan and the
Australian Stem Cell Centre, Melbourne, Australia.

SCS has four business units, each dedicated to different aspects of the stem
cell business opportunity.

SC Proven(R) provides cell culture media (liquid formulations) and reagents that
enable the growth and differentiation of stem cells. The first SC Proven(R)
product, "ESGRO CompleteTM", a cell culture medium capable of consistent growth
of mouse embryonic stem cells without serum or feeder cell support was launched
in February 2006. This was followed by "HEScGROTM", the first animal-component
free cell culture medium to enable improved growth of human embryonic stem
cells, in January 2007. These products are manufactured and distributed by
Chemicon International, now part of Millipore Corporation.

SC Licensing licenses SCS proprietary technologies, such as Internal Ribosome
Entry Site (IRES), Stem Cell Selection, hMADS (human adipose derived stem cells)
and Neural Stem Cell Technology for application in laboratory-based research and
discovery. SCS has licensed technology to major pharmaceutical and biotechnology
companies including Merck & Co, Pfizer, Sanofi Aventis, GSK, Deltagen Inc and
Lexicon Genetics Inc and others.

SC Services provides specialised stem cell production for basic research and
drug discovery, including high-throughput applications through an automated cell
production facility in Cambridge UK. The services offered include the creation
of specific cell lines for a customer, the modification of existing cell lines
so that they can be grown in serum free SC Proven(R) media, and the supply of
cells for drug screening in multi-well plate format.

SC Therapies' goal is to develop safe and effective cell-based therapies for
currently incurable diseases. Initial research is being directed to developing
and characterising cell lines of potential therapeutic value in the treatment of
spinal injury, Parkinson's disease, eye disease, epilepsy and Duchenne Muscular
Dystrophy (DMD). Programmes to test SCS' proprietary stem cells in animal models
of spinal cord injury have been initiated in a number of disease models and
preclinical studies for the treatment of Duchenne Muscular Dystrophy are
anticipated in 2007-8.

For further information on the company please visit:
www.stemcellsciences.com



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