Lifeline Biotechnologies Updates Pink Sheets

Lifeline Biotechnologies, Inc. (Pink Sheets: LLBO) today announced that it has completed the updating of the Company's information on Pink Sheets.

Jim Holmes, Lifeline's CEO, said, "The information submitted includes a Balance Sheet, Statement of Operations and Footnotes to Financial Statements as of September 30, 2009. This information can be seen on Lifeline's Pink Sheets site at www.pinksheets.com. Then enter Lifeline's trading symbol, LLBO, then click on 'FILINGS.'"

Holmes went on to say, “We are preparing for Lifeline’s 2009 year end closing and expect to issue annual financial statements as soon as practical and possible. Additionally, we are nearing the completion of a major revision of Lifeline’s website, which is expected to contain more information, both historical and current.

"The Company has received many questions concerning the prospect of a reverse split of the common stock. Though the outstanding common stock is increased from time to time, there are no plans for a reverse split. We have issued several hundred million shares during the fourth quarter; these shares have been issued to secure funding for operations. We expect to issue several hundred million additional shares during the first quarter of 2010. These shares are expected to be issued for various services agreements and to exchange for convertible debt.”

Lifeline competes in the money markets for funds to continue the development of its products as well as supporting operating and administrative expenses. The cost of funds for companies such as Lifeline is expensive, and the terms have been and may continue to be dilutive. The Company continues to seek alternative sources of financing in an effort to reduce the dilutive aspects.

Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, the ability to obtain financing, successful development of the Company's product or market acceptance of the product and regulatory and shareholder approval for anticipated actions.

Lifeline Biotech (CE) (USOTC:LLBO)
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