Medgenics, Inc.
                         ('Medgenics' or the 'Company')
                                        
                          Blocklisting Interim Review

                                                                     4 June 2008

1. Name of company:

Medgenics, Inc.

2. Name of scheme:

Warrants and Options under the Company's Share Incentive Schemes

3. Period of return:           From                          To
                          4 December 2007                3 June 2008

4. Number and class of securities not issued under the scheme at the beginning
of the period:

20,818,683 Common Shares

5. Number of securities issued under scheme during period:

2,462,050 Common Shares following the due exercise of Warrants issued by the
Company (2,241,050 Common Shares pursuant to L Warrants, 173,276 Common Shares
pursuant to W Warrants and 47,724 Common Shares pursuant to RW Warrants).

6. Balance under scheme of securities not yet issued at end of period:

18,356,633 Common Shares

7. Number and class of securities originally admitted and the date of admission:

20,818,683 Common Shares admitted under the block admission on 4 December 2007.


Following the above issues during the period and subsequent to the issue of
142,609 Common Shares as announced on 22 April 2008, the total number of shares
in issue is 106,698,076, the percentage of shares not in public hands is 31.7
per cent. and the shareholders who hold more than three per cent. of the issued
share capital are as follows:

Name                                           Number of   % of Issued
                                                  Common         Share
                                                  Shares       Capital
Lord Leonard Steinberg                        14,484,725         13.6%
Joel Kanter *                                  8,998,566          8.4%
Alta  California  Partners  III, L.P.          7,412,472          6.9%
Platinum-Montaur  Life  Sciences 1, LLC        7,190,208          6.7%
Vision Opportunity Master  Fund, Ltd.          7,094,851          6.6%
Koor  Corporate Venture Capital, L.P.          5,393,821          5.1%
Chicago Investments Inc.**                     4,400,807          4.1%
CIBC   Trust  Company  (Bahamas)Ltd. **        3,605,985          3.4%


Notes:
* Included in the interests of Joel Kanter are his interests in:
    (i)  949,226 Common Shares held by the Kanter Family Foundation, an Illinois not-
         for-profit corporation of which Mr. Kanter is the President and is a Director;
   (ii)  3,605,985  Common Shares held by CIBC Trust Company (Bahamas)  Limited
         ("CIBC").  CIBC is the trustee of Settlement T-555 (the "CIBC Trust").  The CIBC
         Trust was established for the benefit of various descendants of (i) Helen and
         Henry  Krakow,  and  (ii) Beatrice and Morris Kanter.   Mr.  Kanter  is  a
         discretionary beneficiary of the CIBC Trust.  Sole voting and investment control
         of the Common Shares owned by the CIBC Trust is vested in CIBC as trustee of the
         CIBC Trust;
  (iii)  4,400,807 Common Shares held by Chicago Investments, Inc. ("CII").
         CII is a majority-owned subsidiary of Chicago Holdings, Inc. ("CHI"). CHI is
         majority owned by various trusts (together the "Kanter Trusts") established for
         the benefit of various descendants of (i) Helen and Henry Krakow, and (ii)
         Beatrice and Morris Kanter. Joel Kanter is a discretionary beneficiary of some,
         but not all, of the Kanter Trusts.  Sole voting and investment control of the
         Common Shares owned by CII is vested in Mr. Kanter's brother, Joshua Kanter, as
         President of CII; and
   (iv)  42,548 Common Shares held by Chicago Private Investments, Inc ("CPI").  CPI
         is a wholly owned subsidiary of The Holding Company ("THC").  THC is owned by
         Kanter Trusts.  Sole voting and investment control of the shares of the Company
         owned by CPI is vested in Mr. Kanter's brother, Joshua Kanter, as President of
         CPI.
         For  the  purposes  of applicable US Securities Laws and regulations,  Mr.
         Kanter  disclaims  all  beneficial and pecuniary interest  to  the  Common
         Shares  held by CII and CPI and the CIBC Trust.  Such disclaimer does  not
         affect  Mr.  Kanter's  status  as a discretionary  beneficiary  under  the
         Kanter Trusts or the CIBC Trust.

** Included in the interests of Joel Kanter.

For further information, contact:

Medgenics, Inc.                                                +972 4 902 8900
Dr. Andrew L. Pearlman

Citigate Dewe Rogerson                                         +44 207 638 9571
Dr. Mark Swallow
Jonathan Shillington (Global Consulting Group)

Blomfield Corporate Finance Limited                            +44 207 489 4500
James Pinner
Alan MacKenzie

SVS Securities plc                                             +44 207 638 5600
Peter Manfield
Ian Callaway
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