Mr. Frank Menzler Appointed as President and CEO of HepaLife

Business Wire, Oct 3, 2006

Senior Executive with Worldwide Medical Device Development and Commercialization; Previously with Abiomed, Inc. and Guidant Corporation

BOSTON -- HepaLife Technologies Inc. (OTCBB: HPLF) (FWB: HL1), today announced the appointment of Mr. Frank Menzler as its President, Chief Executive Officer, and a Director of the Company.

Mr. Frank Menzler holds a Master's degree in Business Administration (MBA) from Northwestern University's Kellogg School of Business and a 'Diplom-Ingenieur' (Master's of Science equivalent) in Mechanical and Biomedical Engineering from RWTH Aachen, Germany's largest university of technology and one of Europe's leading technology institutions, renowned for its standards of education and research excellence since 1870.

"In addition to his technical know-how, Mr. Menzler brings us medical device and life science research, development, and sales and marketing management experience, which spans the globe and ranges from early stage start-ups to executive positions with multi-billion dollar corporations," commented Mr. Harmel S. Rayat, who was succeeded by Mr. Menzler to the position of President and Chief Executive Officer. Mr. Rayat remains as a Director of the Company, its Chief Financial Officer, Principal Accounting Officer and majority shareholder.

"In addition to immediate opportunities in the US marketplace, we also look forward to leveraging Frank's experience with commercializing and marketing highly-innovative medical technologies in markets throughout Europe, Asia, Africa, the Middle East and North America," continued Mr. Rayat. "After all, HepaLife's cell-based technologies for avian flu, liver disease, and drug toxicity have global implications."

Among his European appointments, Mr. Frank Menzler served as Marketing Manager for Europe, Middle East, Africa and Canada (EMEAC) at Guidant Corporation's, Cardiac Surgery Business Unit in Brussels, Belgium. During his tenure at Guidant, he increased revenue substantially and restructured the Cardiac Surgery EMEAC Organization. Guidant was recently acquired for $27.5 billion by Boston Scientific Corporation.

Prior to joining Guidant, Mr. Menzler co-founded Impella Cardiotechnik AG (Germany), helping to raise more than $30 million in grants and venture capital for the nation's first-ever academically-sponsored research effort to receive private venture capital funding. Impella, a medtech start up venture, successfully designed, developed, and ultimately commercialized minimally-invasive cardiac assist systems for use in cardiology and cardiac surgery.

Impella eventually manufactured and marketed intracorporeal micro blood pumps with technology protected by more than 30 European and international patents. In 2000, the Company was honored with innovation awards by the City of Aachen and German Commerce and was added to the list of the World's 40 Leading Technology Pioneers in February 2003 by the Davos World Economic Forum as one of only two German companies to reach this milestone. In 2005, Impella was acquired by US-based, ABIOMED, Inc., the global leader for products in the acute heart failure market, shipping more ventricle assist devices (VADs) than any other company in the world.

In the United States, Mr. Menzler most recently served as Director, International Distributors, at ABIOMED, Inc., developer of the world's first completely self-contained total artificial heart, and a leading developer, manufacturer and marketer of medical products designed to assist or replace the pumping function of the failing heart. Previously, Frank Menzler served as General Manager for the company's European division.

ABOUT HEPALIFE TECHNOLOGIES, INC.

HepaLife Technologies, Inc. (OTCBB: HPLF) (FWB: HL1) (WKN: 500625) is a development stage biotechnology company focused on the identification, development and eventual commercialization of cell-based technologies and products.

Current cell-based technologies under development by HepaLife include 1) the first-of-its-kind artificial liver device, 2) proprietary in-vitro toxicology and pre-clinical drug testing platforms, and 3) cell-culture based vaccines to protect against the spread of influenza viruses among humans, including potentially the high pathogenicity H5N1 virus.

At present, HepaLife does not have commercial products intended to diagnose, treat, cure or prevent any disease. The statements contained in this press release regarding our ongoing research and development and the results attained by us to-date have not been evaluated by the Food and Drug Administration.

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