crunch time, page-6

Clinical Cell Culture won't reach revenue targets
10:22, Monday, 19 February 2007

Sydney - Monday - February 19: (RWE Aust Business News) -
Clinical Cell Culture Ltd (ASX:CCE) has advised that it will not meet its
revenue target of $5-$7 million for the 2007 financial year.
The revision has resulted from a number of factors, including
lower than expected sales from existing and new markets as well as delays
in approvals in major countries.
The company cited several factors resulting in the downgrade,
including:
* Continuing delays in patient recruitment in the FDA trial. To
date a total of 18 patients have been screened with no patients meeting
the criteria for inclusion in the trial;
* Both ReCell and CellSpray reorder rates and volumes since the
start of the 2007 calendar year have been materially less than expected.
With respect to CellSpray and CellSpray XP no new patients have been
treated since December;
* Regulatory approval remains outstanding in Russia and Mexico
and, due to a request for extended testing, the Chinese approval decision
will now be pushed back to Q3/Q4 CY 2007. These three major countries
accounted for a significant portion of the 2007 forecast
and it is now unlikely any revenue will be derived from these countries
in FY 2007.
The company said the board is undertaking a detailed assessment
of sales activity and prospects for FY07 and beyond, including the
commissioning of an external review of the company's short and medium
term strategic options, to be completed by March 28.
Shares of Clinical Cell Culture slumped 3.9c to 9.6c in early
trading this morning.