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Maier & Company
Corporate Communications and Investor Relations                     NEWS RELEASE


CONTACT:
               Gary S. Maier
               Maier & Company, Inc.
               (310) 442-9852


            CYTOMEDIX, INC. COMPLETES $2.8 MILLION PRIVATE PLACEMENT

        --COMPANY ON SCHEDULE TO COMMENCE FDA APPROVED CLINICAL TRIALS -

      LITTLE ROCK, ARKANSAS - MARCH 29, 2004 - Cytomedix, Inc. (CYME:OTC.OB)
today announced it has completed a private placement of preferred stock and
warrants with a leading institutional investor and individual investors, raising
$2.8 million in gross proceeds.

      Under the terms of the financing, Cytomedix issued 280 shares of Series C
Convertible Preferred Stock with a face value of $10,000 per share. Each share
of Series C Convertible Preferred Stock is convertible into 10,000 shares of
common stock. The company also issued warrants to investors to purchase 2.8
million shares of common stock at an exercise price of $1.50, with a five-year
term. Additional information regarding this transaction will be available
through the company's 8-K filing with the Securities and Exchange Commission.

      An affiliate of Ritchie Capital Management, L.L.C. (Ritchie Long/Short
Trading, Ltd.) was the institutional investor in the transaction, with the
balance raised from accredited high-net worth individual investors. Burnham Hill
Partners acted as exclusive placement agent in connection with the transaction.

      "The completion of this round of financing greatly enhances the ability of
Cytomedix to commence clinical trials and demonstrate the safety and efficacy of
the company's AutoloGel(TM) System," said Mark Cline, president of Cytomedix.

      The commencement of the clinical trials is based upon the U.S. Food and
Drug Administration's recent approval of the company's investigational device
exemption (IDE) application related to the AutoloGel(TM) System. As previously
announced, a randomized, double-blinded controlled study against the standard of
care for the treatment of chronic wounds at up to 12 premier sites throughout
the United States, with enrollment of approximately 74 patients, is expected to
commence in mid-April.

      Cline noted last week's favorable ruling from United States District Court
Judge James B. Zagel of the Northern District of Illinois affirming Cytomedix's
position regarding the scope of its claims, which relates to the use of

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Cytomedix, Inc.
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platelet-derived therapies for treating wounds and other damaged tissue. The
ruling was issued in connection with a pending patent infringement lawsuit
initiated by Cytomedix against Little Rock Foot Clinic.


ABOUT BURNHAM HILL PARTNERS

      Burnham Hill Partners, based in New York City, was formed in August 2003
and is a division of Pali Capital, Inc., a NASD registered broker dealer. The
professionals at Burnham Hill Partners have extensive experience in providing
comprehensive financing and financial advisory services to publicly traded
companies with market capitalizations of up to $250 million. Burnham Hill
Partners' sector expertise includes telecommunications, network security and
software as well as medical devices and life sciences. Additional information on
Burnham Hill Partners can be obtained by contacting the firm at: 212-980-2200.


ABOUT CYTOMEDIX

      Cytomedix, Inc. is a biotechnology company specializing in processes and
products derived from autologous platelet releasates. The current product
offering is AutoloGel(TM), an autologous platelet gel composed of multiple
growth factors and fibrin matrix, which is used to treat chronic wounds.
Cytomedix is working with healthcare providers to offer an advanced therapy at
the point-of-care in multiple settings. Additional information is available at:
www.cytomedix.com.

FORWARD LOOKING STATEMENTS

      Statements contained in this press release not relating to historical
facts are forward-looking statements that are intended to fall with the safe
harbor rule for such statements under the Private Securities Litigation Reform
Act of 1995. The information contained in the forward-looking statements is
inherently uncertain, and Cytomedix's actual results may differ materially due
to a number of factors, many of which are beyond Cytomedix's ability to predict
or control, including among others, governmental regulation, acceptance by the
medical community and competition. These forward-looking statements are subject
to known and unknown risks and uncertainties that could cause actual events to
differ from the forward-looking statements. More information about some of these
risks and uncertainties may be found in the reports filed with the Securities
and Exchange Commission by Cytomedix, Inc.

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