CryoPort Updates Shareholders on Development of Disposable Cryogenic
Shipper

CryoPort, Inc. (OTC.PK: CYRX) announced today new information
regarding the development of its one-way, one time use, disposable
cryogenic shipper. Initially, this revolutionary new shipper was not
expected to be ready for client use until the spring of 2006, with
clinical trials commencing during the summer of 2006. However, due
to an accelerated R&D schedule as the result of additional funding,
the development stage of the "phase one" shipper is now complete.
Prototype models of the new disposable cryogenic shipper are
scheduled to be made available to select clients as early as July
2005.

CryoPort is currently working with a number of biotech and
pharmaceutical companies who have a high level of interest in the
disposable cryogenic shipper for use in drug delivery. Several of
these companies are already using CryoPort's reusable cryogenic
shipper which is currently being used to successfully ship product
in ongoing clinical trials.

Cell Genesys, recently purchased 100 of CryoPort's reusable
lightweight shippers with a projected need over the coming months
for several hundred more. This initial order is intended to serve as
a "Proof of Concept" for the technology that will be incorporated
into the soon to be released disposable shipper.

The use of a cryogenic shipping protocol, rather than a dry ice
protocol, helped Cell Genesys avoid significant logistical problems
that they would have faced had they been forced to use traditional
dry ice shipping methods. Dry ice shippers can maintain temperatures
of negative seventy-eight degrees Celsius for a maximum of 48 hours
before the shipment must be handled and repackaged. If not
repackaged on fresh dry ice within a small time frame, the frozen
material risks thawing and becoming unusable. CryoPort's cryogenic
shippers maintain negative one hundred and ninety six degrees
Celsius and can maintain this same level of temperature for up to a
period of 2 weeks, depending on the application. Additionally, dry
ice emits gas vapors, which result in its classification as a
hazardous material. CryoPort's shippers, including the new one-way
shipper, are non-hazardous and can even be shipped using traditional
postal services.

Once the new disposable shipper completes its initial testing phase
with select clients during the summer of 2005, large scale
manufacturing is expected to commence in early 2006 in an effort to
meet the anticipated demand from biotech and pharmaceutical
companies worldwide.

"SAFE HARBOR":

Certain statements contained herein constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are based on
current expectations, estimates and projections about the Company's
industry, management's beliefs and certain assumptions made by
management. Readers are cautioned that any such forward-looking
statements are not guarantees of future performance and are subject
to certain risks, uncertainties and assumptions that are difficult
to predict. Since such statements involve risks and uncertainties,
the actual results and performance of the Company may turn out to be
materially different from the results expressed or implied by such
forward-looking statements. Given these uncertainties, readers are
cautioned not to place undue reliance on such forward-looking
statements. Unless otherwise required by law, the Company also
disclaims any obligation to update its view of any such risks or
uncertainties or to announce publicly the result of any revisions to
the forward-looking statements made herein; however, readers should
carefully review reports or documents the Company files from time to
time with the Securities and Exchange Commission.

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