Arbios Provides Company Update at First Annual Stockholders Meeting SEPET(TM) Liver Assist Device Advancing into Clinical Trials LOS ANGELES, July 7 /PRNewswire-FirstCall/ -- Arbios Systems, Inc. (OTC Bulletin Board: ABOS) a biomedical device company developing proprietary liver assist devices for the treatment of liver failure, held its first Annual Meeting of Stockholders today. Amy Factor, Chief Executive Officer of Arbios, provided a corporate update. The Company announced that it will be starting a clinical trial to assess the safety and tolerability, as well as indications of clinical utility, of SEPET(TM), the Company's liver assist and blood purification device in patients with liver failure. Arbios recently received Institutional Review Board ("IRB") approval from Albert Einstein Medical Center in Philadelphia. IRB approval is necessary for the clinical trial to begin. In addition, Arbios has set up a data safety monitoring board and is working towards completion of the manufacturing of devices for the trial. Ms. Factor stated, "With receipt of IRB approval, we will now train the staff and initiate the trial at Albert Einstein Medical Center. As previously announced, this will be a two-site, 15 patient study - the second site being Cedars Sinai Medical Center in Los Angeles. For a patient to be enrolled in the trial they must be experiencing an acute episode of a chronic liver condition." Shareholders were also provided with an update on the Company's bioartificial liver program. A meeting with select members of the Company's Scientific Advisory Board was recently held to discuss the clinical trial design for the bioartificial liver program. The Company plans to reactivate its IND for a Phase III clinical trial and plans to meet with the Food & Drug Administration to review the clinical program for this device. During the past year, Arbios has strengthened its management team and board of directors. The Company has brought on expertise in the areas of manufacturing, operations, marketing and sales. "This pool of talent will be invaluable as the Company continues to progress its novel liver assist devices closer to market introduction," said Ms. Factor. "2004 was an important year for the Company in regards to building its infrastructure and putting the necessary processes in place to advance its product pipeline. I now look forward to moving the Company into the next phase of its development," continued Ms. Factor. The Company also announced that shareholders approved all issues presented at the meeting, including the election of all of the nine nominees as directors of the Company, an increase in the number of authorized shares of common stock from 25,000,000 to 60,000,000, and the reincorporation of Arbios from Nevada to Delaware (which will also result in the consolidation of its operations with those of its operating subsidiary). The Company intends to complete the reincorporation to Delaware, and the consolidation of its operations with its subsidiary, within the next few days. Arbios Systems, Inc. is a biomedical device company that is engaged in the discovery, acquisition and development of proprietary liver assist devices and new technologies useful in the diagnosis and treatment of acute liver failure. Arbios' products in development include SEPET(TM), a novel blood purification therapy and HepatAssist-2(TM), a bioartificial liver combining liver cell therapy and sorbent-based detoxification. This press release contains forward-looking statements that involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks or uncertainties related to obtaining clinical site approvals, manufacturing SEPET(TM) cartridges, enrolling patients, compliance with regulatory requirement, the results of the clinical tests to be conducted by the company, the need for subsequent substantial additional financing to complete clinical development of its products, and Arbios' ability to successfully market its products and technologies. These statements represent the judgment of Arbios' management as of this date and are subject to risks and uncertainties that could materially affect the company. The company does not undertake any obligation to publicly release the result of any revisions to such forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. SEPET(TM) and HepatAssist-2(TM) are trademarks of Arbios Technologies, Inc., the subsidiary of Arbios Systems, Inc. DATASOURCE: Arbios Systems, Inc. CONTACT: CONTACT AT ARBIOS: Amy Factor, Chief Executive Officer, +1-973-377-7665, ; CONTACT AT RX COMMUNICATIONS GROUP: Paula Schwartz (Investors), +1-917-322-2216, or Pat Garrison (Media), +1-917-322-2567 Web site: http://www.arbios.com/

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