July 16, 2002

News Release: Raises $10.1 Million in Series A Convertible Preferred Stock

HOUSTON, Jul 16, 2002 /PRNewswire-FirstCall via COMTEX/ -- Isolagen, Inc. (OTC Bulletin Board: ISLG) today announced the successful completion of a $10.1 million private offering of 2,895,000 shares of 8% Series A Convertible Preferred Stock at $3.50 per share. Each share of preferred stock is convertible into two shares of common stock at any time after issuance. The offering was managed by Fordham Financial Management, Inc. "This offering strengthens our balance sheet and further positions us for growth," said Jeffrey W. Tomz, Chief Financial Officer.

About Isolagen, Inc.

Isolagen, Inc. is the parent company of Isolagen Technologies, Inc., which was founded in 1995. Isolagen has focused its efforts in the development of autologous cellular technology that has specific applications in cosmetic dermatology, cosmetic surgery, periodontal disease, reconstructive dentistry and other health-related markets.

Isolagen is an emerging biotechnology company specializing in the development and commercialization of autologous cellular system ("ACS") for hard and soft tissue regeneration and other therapies. Isolagen currently holds four patents with one additional patent pending. Representing breakthrough technology in the overall approach to cosmetic and medical therapy, ACS is a process whereby a patient's own cells are extracted, reproduced through Isolagen's proprietary process, and then reintroduced back into the patient for specific cosmetic and medical applications. Unlike other collagen development companies, Isolagen utilizes only the patient's unique, living cells to produce the patient's own collagen. There is no foreign substance utilized in this treatment protocol. Isolagen's goal is to become the industry leader in the research, development and commercialization of ACS tissue regeneration.

Isolagen's corporate headquarters are located in Houston, TX. For further information, please see www.isolagen.com .

SOURCE Isolagen, Inc.

CONTACT:          Michael Macaluso, CEO, or Jeffrey W. Tomz, CFO, both of
                  Isolagen, Inc., +1-713-780-4754

URL:              http://www.isolagen.com 

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