<SEC-DOCUMENT>0001144204-12-033481.txt : 20130927
<SEC-HEADER>0001144204-12-033481.hdr.sgml : 20130927

<ACCEPTANCE-DATETIME>20120606132626

<PRIVATE-TO-PUBLIC>

ACCESSION NUMBER:		0001144204-12-033481

CONFORMED SUBMISSION TYPE:	PREN14A

PUBLIC DOCUMENT COUNT:		2

CONFORMED PERIOD OF REPORT:	20120606

FILED AS OF DATE:		20120606

DATE AS OF CHANGE:		20120716


SUBJECT COMPANY:	


	COMPANY DATA:	

		COMPANY CONFORMED NAME:			CRYO CELL INTERNATIONAL INC

		CENTRAL INDEX KEY:			0000862692

		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-SERVICES, NEC [8900]

		IRS NUMBER:				223023093

		STATE OF INCORPORATION:			DE

		FISCAL YEAR END:			1130



	FILING VALUES:

		FORM TYPE:		PREN14A

		SEC ACT:		1934 Act

		SEC FILE NUMBER:	000-23386

		FILM NUMBER:		12891468



	BUSINESS ADDRESS:	

		STREET 1:		700 BROOKER CREEK BLVD

		STREET 2:		SUITE 1800

		CITY:			OLDSMAR

		STATE:			FL

		ZIP:			34677

		BUSINESS PHONE:		813-749-2104



	MAIL ADDRESS:	

		STREET 1:		700 BROOKER CREEK BLVD

		STREET 2:		SUITE 1800

		CITY:			OLDSMAR

		STATE:			FL

		ZIP:			34677




FILED BY:		


	COMPANY DATA:	

		COMPANY CONFORMED NAME:			Choi Ki Yong

		CENTRAL INDEX KEY:			0001407536



	FILING VALUES:

		FORM TYPE:		PREN14A



	MAIL ADDRESS:	

		STREET 1:		1255 POST STREET, SUITE 915

		CITY:			SAN FRANCISCO

		STATE:			CA

		ZIP:			94109



</SEC-HEADER>

<DOCUMENT>
<TYPE>PREN14A
<SEQUENCE>1
<FILENAME>v315371_pren14a.htm
<DESCRIPTION>FORM PREN14A
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Proxy Statement Pursuant to Section 14(a)
of the Securities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Filed
by the Registrant </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">
Filed by a Party other than the Registrant </FONT><FONT STYLE="font-family: Wingdings">&thorn;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Wingdings">&thorn;</FONT></TD>
    <TD STYLE="width: 94%">Preliminary Proxy Statement</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>Definitive Proxy Statement</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>Definitive Additional Materials</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>Soliciting Material Pursuant to &sect;240.14a-12</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>CRYO-CELL INTERNATIONAL, INC.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name of the Registrant as Specified In
Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">KI YONG CHOI</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">GARY
WEINHOUSE</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">MICHAEL
W. CHO</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">WARREN
HOEFFLER</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">MICHAEL
D. COFFEE</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">AJAY
BADLANI</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name(s) of Person(s) Filing Proxy Statement,
if other than the Registrant)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Payment of Filing Fee (Check the appropriate box):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Wingdings">&thorn;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></TD>
    <TD COLSPAN="2">No fee required.</TD></TR>
<TR>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD COLSPAN="2">Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.</TD></TR>
<TR>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 6%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 6%; vertical-align: top">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="width: 88%; vertical-align: top">Title of each class of securities to which transaction applies: N/A</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">(2)</TD>
    <TD STYLE="vertical-align: top">Aggregate number of securities to which transaction applies: N/A</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">(3)</TD>
    <TD STYLE="vertical-align: top">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined):</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">N/A</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">(4)</TD>
    <TD STYLE="vertical-align: top">Proposed maximum aggregate value of transaction: N/A</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">(5)</TD>
    <TD STYLE="vertical-align: top">Total fee paid: N/A</TD></TR>
<TR>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD COLSPAN="2">Fee paid previously with preliminary materials.</TD></TR>
<TR>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(1)</TD>
    <TD>Amount Previously Paid: N/A</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(2)</TD>
    <TD>Form. Schedule or Registration Statement No.: N/A</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(3)</TD>
    <TD>Filing Party: N/A</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(4)</TD>
    <TD>Date Filed: N/A</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>KI YONG CHOI</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">c/o Cathedral Hill Associates, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">14299 Firestone Boulevard</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">La Mirada, California 90638</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June [____], 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Fellow Stockholder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">I am the owner of record of 42,600 shares
of the common stock of Cryo-Cell International, Inc. and the beneficial owner of an additional 2,143,968 shares of Cryo-Cell&rsquo;s
common stock. This represents approximately 18.4% of the outstanding shares of Cryo-Cell&rsquo;s common stock. For the reasons
set forth in the attached Proxy Statement, I believe that Cryo-Cell&rsquo;s current board of directors should be replaced. I am
therefore seeking your support at the annual meeting of stockholders, including any adjournments or postponements of it, and any
meeting that may be called in lieu of it, scheduled to be held at [_____________________________], on [_________], 2012 at [______]
a.m./p.m. local time, for the following proposals:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to elect six directors, Ki Yong Choi, Gary Weinhouse, Michael W. Cho,
Warren Hoeffler, Michael D. Coffee and Ajay Badlani<FONT STYLE="color: black">,</FONT> to Cryo-Cell&rsquo;s Board of Directors
to hold office until the 2013 annual meeting or until their respective successors are duly elected and qualified;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to ratify the appointment of Grant Thornton LLP to serve as Cryo-Cell&rsquo;s
independent public accountants for the fiscal year ending November 30, 2012;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to vote against approval of the Cryo-Cell 2012 Equity Incentive Plan;
and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to consider such other business as may properly come before the annual
meeting.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">I urge you to consider carefully the information
contained in the attached Proxy Statement and then support these efforts by signing, dating and returning the enclosed <B>GOLD
</B>proxy card today. The attached Proxy Statement and the enclosed <B>GOLD </B>proxy card are first being furnished to stockholders
on or about June [____], 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You may have received, or may receive in
the future, a separate proxy solicitation from Cryo-Cell. For all of the reasons discussed in the materials included with this
letter, I strongly urge you to REJECT Cryo-Cell&rsquo;s solicitation and NOT sign any [__________] proxy card that the Company
sends to you.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>If
you have already returned a proxy card, you have every right to change your vote by signing and returning a later-dated GOLD proxy
card.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">It is important that your shares of Cryo-Cell
common stock be represented and voted at the annual meeting. Accordingly, even if you plan to attend the annual meeting in person,
please cause your shares to be voted by signing, dating and mailing the enclosed <B>GOLD </B>proxy card. If you have any questions
or require any assistance with your vote, please contact Alliance Advisors, LLC, which is assisting us, at their address and toll-free
numbers listed on the following page.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Thank you for your support,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Ki Yong Choi</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ki Yong Choi</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>If you have any questions, require assistance
in voting your </I><B>GOLD </B><I>proxy</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>card, need additional copies of these
proxy materials or directions to attend the annual</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>meeting, please call Alliance Advisors,
LLC at the phone numbers listed below.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 70%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Alliance Advisors, LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">200 Broadacres Drive, Third Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Bloomfield, New Jersey 07003</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Banks and brokers call collect: (973) 873-7700</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>All others call toll free: </B>(<B>877)
        777-2338</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ANNUAL MEETING OF STOCKHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CRYO-CELL INTERNATIONAL, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>_________________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROXY STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>KI YONG CHOI</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PLEASE SIGN, DATE AND MAIL THE ENCLOSED
<B>GOLD </B>PROXY CARD TODAY.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Ki Yong Choi is the record holder of 42,600
shares of common stock, par value $0.01 per share, of Cryo-Cell International, Inc., a Delaware corporation (the &ldquo;Company&rdquo;),
and the beneficial holder of an additional 2,143,968 shares of the Company&rsquo;s common stock, representing a total of 2,185,458
shares or approximately 18.4% of the Company&rsquo;s outstanding shares of common stock. Mr. Choi is writing to you in connection
with the election of six director nominees (the &ldquo;Nominees&rdquo;) to the Company&rsquo;s Board of Directors at the annual
meeting of stockholders scheduled to be held at [__________________], [_______] a.m./p.m. local time, on [________], 2012, including
any adjournments or postponements of it and any meeting which may be called in lieu of it (the &ldquo;Annual Meeting&rdquo;). This
proxy statement (the &ldquo;Proxy Statement&rdquo;) and the enclosed <B>GOLD </B>proxy card are first being furnished to stockholders
on or about June [_____], 2012. This Proxy Statement and the enclosed <B>GOLD </B>proxy card are being furnished to the Company&rsquo;s
stockholders by Mr. Choi and the other participants in this solicitation (collectively, the &ldquo;Participants&rdquo;) as identified
in the section entitled &ldquo;Participants in the Solicitation,&rdquo; in connection with the solicitation of proxies from the
Company&rsquo;s stockholders for the following purposes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to elect six directors, Ki Yong Choi, Gary Weinhouse, Michael W. Cho,
Warren Hoeffler, Michael D. Coffee and Ajay Badlani<FONT STYLE="color: black">,</FONT> to the Company&rsquo;s Board of Directors
to hold office until the 2013 annual meeting or until their respective successors are duly elected and qualified;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to ratify the appointment of Grant Thornton LLP to serve as the Company&rsquo;s
independent public accountants for the fiscal year ending November 30, 2012;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to vote against approval of the Company&rsquo;s 2012 Equity Incentive
Plan; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to consider such other business as may properly come before the annual
meeting.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company&rsquo;s current board of directors
(the &ldquo;Current Board&rdquo;) has set the record date for determining stockholders entitled to notice of and to vote at the
Annual Meeting as [__________], 2012 (the &ldquo;Record Date&rdquo;). Stockholders of record at the close of business on the Record
Date will be entitled to vote at the Annual Meeting. According to the Company&rsquo;s proxy statement, as of the close of business
on the Record Date there were [________________] shares of common stock outstanding, each share of common stock being entitled
to one vote on all matters presented at the Annual Meeting. The principal executive offices of the Company are located at 700 Brooker
Creek Boulevard, Suite 1800, Oldsmar, Florida 34677 and the telephone number is (813) 749-2100. The Participants in this solicitation
beneficially own an aggregate of 2,199,624 shares of common stock, representing approximately [______]% of the outstanding shares
of common stock. Mr. Choi intends to vote his shares, and the other Participants in this solicitation have advised him that they
intend to vote their shares, (i) to elect the Nominees, (ii) to ratify the appointment of Grant Thornton LLP as described herein,
(iii) against approval of the Company&rsquo;s 2012 Equity Incentive Plan and (iv) in the discretion of the proxies named in the
enclosed <B>GOLD </B>proxy card on the consideration of such other business as may properly come before the Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Mr. Choi requests that stockholders sign,
date and mail promptly the enclosed <B>GOLD </B>proxy card in the postage-paid envelope provided. He urges you not to sign any
[_______] proxy card or other proxy card sent to you by the Company. If you have already done so, you may revoke your previously
signed proxy by delivering a written notice of revocation or a later-dated <B>GOLD </B>proxy card in the enclosed envelope. If
your shares are held in the name of a brokerage firm, bank, bank nominee or other institution on the record date, only that institution
can vote your shares and only upon receipt of your specific instructions. Accordingly, please contact the person responsible for
your account and instruct that person to execute on your behalf the <B>GOLD </B>proxy card as soon as possible. Any proxy executed
by a holder of common stock may be revoked at any time prior to its exercise by filing a written notice of revocation with the
Secretary of the Company or by submitting a duly executed later-dated proxy or by attending the Annual Meeting and voting in person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Mr. Choi has retained Alliance Advisors,
LLC to assist him in communicating with stockholders in connection with the proxy solicitation and to assist in his efforts to
obtain proxies. If you have any questions about how to complete or submit your <B>GOLD </B>proxy card or any other questions, Alliance
Advisors, LLC will be pleased to assist you.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">This solicitation is
being made by KI YONG CHOI and not on behalf of the Current Board or management. Neither Mr. CHOI nor the other participants in
this solicitation is aware of any other matters to be brought before the Annual Meeting. Should other matters, of which Mr. CHOI
is not aware within a reasonable time prior to this solicitation, be brought before the Annual Meeting, the persons named as proxies
in the enclosed <B>GOLD </B>proxy card will exercise their discretion to vote on such matters. Mr. CHOI and the other participants
in this solicitation urge you to sign, date and return the <B>GOLD </B>proxy card in favor of the election of their Nominees. If
you have already sent a proxy card furnished by the Company, you may revoke that proxy and vote for the election of Mr. CHOI&rsquo;</FONT>s<FONT STYLE="text-transform: uppercase">
Nominees by signing, dating and returning the enclosed <B>GOLD </B>proxy card. The latest-dated proxy is the only one that counts.
Any proxy may be revoked at any time prior to the Annual Meeting by delivering a written notice of revocation or a later-dated
proxy for the Annual Meeting to Mr. CHOI, </FONT>c/o<FONT STYLE="text-transform: uppercase"> alliance advisors, LLC who is assisting
in this solicitation, or to the secretary of the Company, or by voting in person at the Annual Meeting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>IMPORTANT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Your vote is important, no matter how many
or how few shares you own. Mr. Choi urges you to sign, date, and return the enclosed <B>GOLD </B>proxy card today to vote FOR the
election of his Nominees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px">&bull;</TD>
    <TD>If your shares are registered in your own name, please sign and date the enclosed <B>GOLD </B>proxy card and return it to Ki Yong Choi, c/o Alliance Advisors, LLC, in the enclosed envelope today.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&bull;</TD>
    <TD>If your shares are held in a brokerage account or bank, you are considered the beneficial owner of the shares, and these proxy materials, together with a <B>GOLD </B>voting form, are being forwarded to you by your broker or bank. As a beneficial owner, you must instruct your broker, trustee or other representative on how to vote. Your broker cannot vote your shares on your behalf without your instructions.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px">&bull;</TD>
    <TD>Depending upon your broker or custodian, you may be able to provide voting instructions either through (i) a toll-free telephone number or (ii) the Internet. Please refer to the voting form for instructions on how to provide voting instructions electronically. You may also provide voting instructions by signing, dating and returning the enclosed voting form.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Because only your latest-dated proxy card
will count, we urge you <B>not </B>to return any proxy card you receive from the Company. Even if you return the management proxy
card marked &ldquo;withhold&rdquo; as a protest against the incumbent directors, it will revoke any proxy card you may have previously
sent to the Company. Remember, you can vote for Mr. Choi&rsquo;s Nominees only on the <B>GOLD </B>proxy card, so please make certain
that the latest-dated proxy card you return is the <B>GOLD </B>proxy card.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>If you have any questions, require assistance in voting your
</I><B>GOLD </B><I>proxy card, or need additional copies of these proxy materials or directions to attend the Annual Meeting, please
call Alliance Advisors, LLC at the phone numbers listed below.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 70%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Alliance Advisors, LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">200 Broadacres Drive, Third Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Bloomfield, New Jersey 07003</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Banks and brokers call collect: (973) 873-7700</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>All others call toll free: (877) 777-2338</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BACKGROUND AND REASONS FOR MR. CHOI&rsquo;s
SOLICITATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Between May 2005 and July 2007, Mr. Choi,
an entrepreneur and an investor with a keen interest in biomedical sciences, purchased 1,557,069 shares of the Company&rsquo;s
common stock at a cost of approximately $3.98 million. Following his investment in July 2007, Mr. Choi engaged in discussions with
the Company&rsquo;s management concerning a position for himself and a nominee of his choice to the Company&rsquo;s six-person
Board of Directors. As a result of that negotiation, from March 2008 through August 2011, Mr. Choi served on the Company&rsquo;s
Board. Following his appointment to the Board, Mr. Choi became frustrated with what he perceived as a tendency by the remaining
members of the Board to approve without question decisions regarding the management of the Company made by the then Chief Executive
Officer. Therefore, on May 9, 2011, Mr. Choi gave notice to the Company that he intended to nominate certain individuals for election
to the Board. Due to the fact that Mr. Choi&rsquo;s stock was not owned of record, but was instead held in his brokerage account,
the Company deemed his notice to be defective and prevented Mr. Choi from having his nominees considered for election as directors.
At that meeting, a group consisting of David I. Portnoy, Mark L. Portnoy, Jonathan H. Wheeler, M.D., George Gaines, Harold D. Berger,
Partner Community, Inc., uTIPu Inc., Mayim Investment Limited Partnership, Jamie H. Zidell, Deborah Portnoy, Lynne Portnoy, Gilbert
Portnoy, Capital Asset Fund #1 Limited Partnership and Charles W. Northcutt, Jr. (the &ldquo;Dissenters&rdquo;) succeeded in challenging
the Company&rsquo;s nominations to the Board of Directors and in obtaining stockholder approval of the five persons nominated by
the Dissenters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Dissenter&rsquo;s 2011 proxy statement
promised to seek to eliminate any and all unnecessary costs expended by the Company, reduce executive cash compensation, increase
revenues, explore opportunities to expand the Company&rsquo;s product offerings to include storage of other types of stem cells
and other ancillary services and be receptive to input from fellow stockholders and to work diligently and intelligently to increase
the value of all stockholders&rsquo; investments in the Company. In Mr. Choi&rsquo;s opinion, as indicated below, the Dissenter&rsquo;s
have failed to achieve these stated goals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Did not Eliminate any and all
Unnecessary Costs.</I> Costs and expenses have increased by approximately 12.4% for the quarter ended February 29, 2012 as
compared to the quarter ended February 28, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Did not Reduce  Executive Cash
Compensation.</I> The Company now has &ldquo;co-Chief Executive Officers&rdquo;, Mr. David Portnoy and his brother, Mr. Mark
Portnoy. Pursuant to their employment agreements, David Portnoy&rsquo;s cash compensation is $225,000 and Mark
Portnoy&rsquo;s cash compensation is $200,000. In the 2010 fiscal year Mercedes Walton, the Company&rsquo;s prior Chief
Executive Officer, was paid cash compensation of $371,108 and in the 2009 fiscal year her cash compensation was $348,100. The
combined salaries paid to Messrs. Portnoy exceed these amounts by over $50,000, not including the expenses associated with
providing benefits to two executives rather than one. Furthermore, according to David Portnoy&rsquo;s employment agreement,
the Company is required to pay &ldquo;reasonable commuting expenses&rdquo; so that he can commute between his home in Miami,
Florida and the Company&rsquo;s headquarters in Tampa, Florida while Mark Portnoy&rsquo;s employment agreement requires the
Company to pay relocation expenses so that he can relocate his primary residence to Tampa, Florida.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Declining or Flat Revenues rather than
an Increase</I>. Revenues were flat during the fiscal year ended November 30, 2011 and have declined during the first quarter
of the current fiscal year, all since the Dissenters&rsquo; nominees assumed management of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>No New Product Offerings to
Include Storage of other Types of Stem Cells and Other Ancillary Services.</I> There is no indication that this has been
done.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Decreasing Value of
Stockholders&rsquo; Investments in the Company rather than an Increase.</I> On August 25, 2011, the date of the last annual
meeting, the last trade of the Company&rsquo;s common stock was at $2.35. On June 4, 2012, the last trade of the
Company&rsquo;s common stock was at $2.27. Furthermore, on August 31, 2011 the Company had a total of $6,875,490 in cash and
marketable securities, but on February 29, 2012 that number had decreased to $4,320,073, a decrease of $2,555,417. Mr. Choi
does not believe that this shows an increase in the value of the Company&rsquo;s stockholders&rsquo; investments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Moreover, as the Company disclosed in its
Quarterly Report on Form 10-Q for the quarter ended February 29, 2012, the Company&rsquo;s disclosure controls and procedures and
internal control over financial reporting remain ineffective, nearly one year after the Dissidents assumed control of the Board.
Mr. Choi believes these deficiencies should have been resolved sooner, as the Company has had ample resources to do so. Mr. Choi
also believes that these persistent deficiencies in the Company&rsquo;s disclosure controls and procedures and internal control
over financial reporting have had a depressive effect on stockholder value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For these and other reasons, Mr. Choi believes
strongly that the Company needs a whole new Board that will exercise good, independent judgment to guide the Company and new executive
officers who have experience in this industry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Mr. Choi&rsquo;s objective in seeking the
election of the Nominees is to provide the Company with a qualified, independent Board that includes members with relevant industry
and public company experience. He believes it is necessary to enhance stockholder value for all stockholders of the Company and
to ensure that the Company is being run in the best interest of all stockholders. As the single largest stockholder of the Company,
he believes that his interests are squarely aligned with yours. He believes that an election contest is the only means for seeking
to improve the overall quality of the Board through the nomination of director candidates who possess extensive industry experience,
expertise in managing operations and public company governance and who are truly independent of the Company&rsquo;s management.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROPOSAL NO. 1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ELECTION OF DIRECTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Current Board is presently composed
of six directors, all of whose terms will expire at the Annual Meeting. For the reasons stated above, Mr. Choi is seeking your
support at the Annual Meeting to elect the Nominees identified below. Under the Company&rsquo;s certificate of incorporation and
its bylaws, the directors elected at the Annual Meeting will serve in such capacity for a one-year term expiring at the 2013 annual
meeting of stockholders or until their successors have been duly elected and qualified, or until their earlier resignation or removal.
Unless otherwise stated, each Nominee has sole voting power and sole investment power with respect to the shares of common stock
beneficially owned by the Nominee, if any, and each Nominee is the beneficial owner of all shares held of record by the Nominee,
if any.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Biographical Information of Nominees</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center">Name and Address of Nominee</TD>
    <TD STYLE="width: 33%; border: black 1pt solid; text-align: center">Age</TD>
    <TD STYLE="width: 33%; border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid; text-align: center">Director Since</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Ki Yong Choi</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">c/o Cathedral Hill Associates, Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">14299 Firestone Boulevard</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">La Mirada, California 90638</P></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom; text-align: center">50</TD>
    <TD STYLE="border-left: Black 1pt solid; vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">From March 2008 through</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">August 2011</P></TD></TR>
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Gary Weinhouse, Esq.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">6059 Bristol Parkway, #100</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Culver City, California 90230</P></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom; text-align: center">44</TD>
    <TD STYLE="border-left: Black 1pt solid; vertical-align: bottom; text-align: center">N/A</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Michael W. Cho, Ph.D.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">c/o Iowa State University, College of Veterinary
        Medicine</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Department of Biomedical Sciences</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">1600 South 16<SUP>th</SUP> Street</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Ames, Iowa 50011</P></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom; text-align: center">46</TD>
    <TD STYLE="border-left: Black 1pt solid; vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">From March 2010 through</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">August 2011</P></TD></TR>
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Warren Hoeffler, Ph.D.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">c/o Xgene Corporation</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">480 Gate 5 Road</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Sausalito, California 94965</P></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom; text-align: center">56</TD>
    <TD STYLE="border-left: Black 1pt solid; vertical-align: bottom; text-align: center">N/A</TD></TR>

<TR STYLE="background-color: white">
    <TD STYLE="width: 34%; vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Michael D. Coffee</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">100 Via Los Altos</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Tiburon, California 94920</P></TD>
    <TD STYLE="width: 33%; vertical-align: bottom; border-left: black 1pt solid; text-align: center">66</TD>
    <TD STYLE="width: 33%; vertical-align: bottom; border-left: Black 1pt solid; text-align: center">N/A</TD></TR>
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Ajay Badlani</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">9024 Symmes Hill Court</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Loveland, Ohio 45140</P></TD>
    <TD STYLE="border-left: black 1pt solid; vertical-align: bottom; text-align: center">46</TD>
    <TD STYLE="border-left: Black 1pt solid; vertical-align: bottom; text-align: center">N/A</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The principal occupations and employment
of each Nominee during the past five years are set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Ki Yong Choi</B> served as a director
of the Company from March 2008 to August 2011. Mr. Choi is an entrepreneur and an investor with a keen interest in biomedical sciences.
He has been an owner, manager and operator of diverse businesses, including hotels (1992 to present), a television production company
(1994 to 1999) and a transportation/tour company (1994 to 1997). Mr. Choi currently serves as President of Cathedral Hill Associates,
Inc., a company he founded in 1992, which owns and operates full service hotels in the metropolitan areas of Seattle, Los Angeles
and Dallas. Cathedral Hill Associates, Inc. is located at 14299 Firestone Boulevard, La Mirada, California. As a business owner
and as an investor, Mr. Choi has a clear understanding of business planning and operations, extensive experience in business management,
and a keen sense of business development. Mr. Choi is an innovative problem solver and has strong leadership skills necessary to
provide guidance and direction to the Company. Mr. Choi brings to the Board a broad spectrum of business know-how and strategic
planning experience. As the single biggest stockholder of the Company, his primary objective is to ensure that the Company realizes
its maximal potential and brings the greatest possible value to all of its stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: #333333"><B>Gary D.
Weinhouse, Esq.</B> is a strategic, results-oriented and hands on executive with domestic and international experience building
value in high growth companies. Mr. Weinhouse&rsquo;s background includes over a decade of experience with health care organizations
and a deep understanding of the health care and medical field. Since June 2010 Mr. Weinhouse has served as President of Autism
Spectrum Therapies (AST), a private, for profit company which offers a wide range of programs for individuals with autism. AST
has over 600 employees, 9 offices and multi-state operations. AST is located at </FONT>6059 Bristol Parkway, #100 Culver City,
California.<FONT STYLE="color: #333333"> In February 2001 Mr. Weinhouse co-founded and is currently the Managing Director of W
Capital Partners, LLC, a boutique consulting company focusing on interim senior management, operations improvement, turnarounds
and restructurings. During 2009 and 2010, Mr. Weinhouse served as Chief Executive Officer of Liens, LLC, a private health care
services firm. From August 2004 through September 2008, Mr. Weinhouse served as Chief Executive Officer of California Cryobank,
Inc., one of the largest reproductive tissue banks in the world, and Family Cord, an umbilical cord blood processing and storage
company. He has also served as interim Chief Operating Officer/Chief Financial Officer/Executive Vice President, Legal Affairs
for Al &amp; Ed&rsquo;s Autosound, as Chief Operating Officer/Chief Financial Officer and Secretary of eteamz.com, and as Director
of Operations and in house Counsel for Myo Diagnostics, Inc. (MPR Health Systems). Mr. Weinhouse graduated with high honors, Phi
Beta Kappa and Magna Cum Laude, from the University of California, Los Angeles (College Honors Graduate) with a Bachelor of Arts
degree in political science. He holds a Master of Business Administration (MBA) from the Anderson School of Business at UCLA, a
Juris Doctorate (JD) degree from Loyola Law School, and a Financial Consulting (PFP) professional designation from UCLA. Mr. Weinhouse
is a member of the California State Bar (1993), is licensed to practice in federal and California state courts, and was elected
to Young Presidents&rsquo; Organization (YPO), Malibu Chapter. </FONT>Mr. Weinhouse brings to the Board a broad spectrum of business
know-how and significant experience in the processing and storage of cord blood.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Michael W. Cho, Ph.D.</B> joined Iowa
State University&rsquo;s department of biomedical sciences in September 2009 as an associate professor and associate director of
their newly established Center for Advanced Host Defenses, Immunobiotics and Translational Comparative Medicine. In April 2012,
he was promoted to professor and he continues to hold the Lloyd Chair in Biomedical Sciences in the College of Veterinary Medicine.
Dr. Cho earned his Ph.D. at the University of Utah in Cellular, Viral and Molecular Biology with an emphasis on molecular virology
of picornaviruses. He expanded his expertise in virology during postdoctoral training at the National Institutes of Health, where
he began working on characterizing structure-function of the envelope glycoprotein of human immunodeficiency virus type I (HIV-1),
the virus that causes AIDS. Prior to joining Iowa State University, from 2001 to 2009, Dr. Cho was an assistant professor, and
then an associate professor, in the Case Western Reserve University School of Medicine, Department of Medicine. During that same
period he was also adjunct assistant professor and then adjunct associate professor with the Case Western Reserve University School
of Medicine, Department of Biochemistry and from 2004 through 2009 he was an adjunct assistant professor and then an adjunct associate
professor in the Department of Molecular Biology and Microbiology. From 2004 to 2009 he was Director, Molecular Virology and Gene
Expression Core for the Case Western Reserve University Center for AIDS Research and from 2006 to 2009 he was Co-Director, Microbial
Pathogenesis Core for the Case Western Reserve University Center for AIDS Research. From 2009 to 2011 he was Associate Director
and from 2011 through the present he is the Co-Director of the Center for Advanced Host Defenses, Immunobiotics and Translational
Comparative Medicine for Iowa State University. As a result of his medical background and research experience, Dr. Cho brings to
the Board a broad spectrum of scientific knowledge and research and development experience in the biomedical field. Dr. Cho also
brings to the Board his experience in overseeing three research programs funded by NIH with a budget of nearly $14 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Warren Hoeffler, Ph.D.</B> has
served as President and Chief Executive Officer of Xgene Corporation, located at 480 Gate 5 Road, Sausalito, California since
he founded the company in July 1998. The company focuses on technology to assemble primary cell cultures into larger tissue
and organ components, and the storage of cell assemblies using their unique cryotronic freezing method. The company sponsors
a laboratory at Dominican University in San Rafael California, where Dr. Hoeffler also teaches as an adjunct faculty member.
Dr. Hoeffler previously joined Stanford University Medical School in the Dermatology Department in 1992 and served as
assistant professor from 1995 until 1998. From 1988 to 1992 he trained as a postdoctoral fellow in the laboratory of Dr.
Arthur D. Levinson at Genentech, Inc., currently a division of Hoffmann-La Roche. Dr. Hoeffler holds a Ph.D. from Washington
University and an A.B. from Columbia University. He holds U.S. and European patents on technology to assemble organs from
primary cell cultures, and U.S. and Japanese patents on gene expression, with other patents pending. Dr. Hoeffler brings to
the Board his extensive experience in business, medicine, and biotechnology.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Michael D. Coffee</B> is presently the
Chief Business Officer for Medicinova, Inc., a publicly traded company located at 4350 La Jolla Village Dr., Suite 950, San Diego,
California, a position he has held since June 2010. Medicinova, Inc. is a biopharmaceutical company that develops small molecule
therapeutics for the treatment of diseases. From May 2009 to February 2010, he was Senior Vice President, Sales and Marketing,
for Adamas Pharmaceuticals, Inc. From February 2005 to May 2009, Mr. Coffee was Chief Business Officer of Avigen, Inc., which was
acquired by MediciNova in December 2009. Prior to joining Avigen, Mr. Coffee co-founded The Alekta Group, LLC, a consulting firm,
in 2004 to provide a comprehensive range of pharmaceutical development consulting services to emerging pharmaceutical companies.
From 2001 to 2004 Mr. Coffee served as President and Chief Operating Officer of Amarin Pharmaceuticals, Inc., the U.S. drug development
and marketing subsidiary of Amarin Corporation PLC. Mr. Coffee also served as President and Chief Operating Officer of Elan Pharmaceuticals,
North America from 1998 to 2001 and held marketing and executive management positions, including President and Chief Operating
Officer, of Athena Neurosciences, Inc. between 1991 and 1998. Mr. Coffee received a B.S. degree in biology from Siena College and
a Tuck Executive Program degree from Amos Tuck School of Business. Mr. Coffee brings to the Board excellent skills relating to
managing life sciences businesses and developing businesses in the life sciences field.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Ajay Badlani</B> has more than 20 years
of overall experience with 8 years in the wealth management industry. In February 2011, Mr. Badlani became the Chief Investment
Officer for a large Family office located at 6450 Sand Lake Road, Dayton, Ohio. The Family office is a single family wealth management
firm. From September 2003 to December 2010, Mr. Badlani spent more than 7 years at The Citigroup Private Bank in New York where
he managed the U.S. investment analytical group, which provided asset allocation and portfolio construction solutions to ultra-high
net worth clients. During his tenure with Citibank, Mr. Badlani worked in all aspects of risk mitigation of multi-asset class portfolios
and maintained client relationships with many of the bank&rsquo;s ultra-high net worth clients. In 2008 he was given the Citi Private
Bank&rsquo;s Global Achievement award. Prior to joining Citibank, Mr. Badlani was Vice-President of the Investment Advisory Group
for Diversified Investment Advisors, a subsidiary of the global insurance company, AEGON. Mr. Badlani is a Chartered Financial
Analyst (CFA) and a member of the Association for Investment Management and Research. Mr. Badlani earned an MBA from the Johnson
School of Management at Cornell University, a Master&rsquo;s of Science in Chemical Engineering from the University of California
at San Diego, and a Bachelor of Engineering in Chemical Engineering from the University of Roorkee in Roorkee, India. Mr. Badlani
brings to the Board extensive experience in finance and investment and will be instrumental in assisting the Company with capital
raising and management. Mr. Badlani also has the qualifications to become a member of the Company&rsquo;s Audit Committee and the
attributes of an audit committee financial expert.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Share Ownership</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The table below sets forth each Nominee&rsquo;s
beneficial ownership of the Company&rsquo;s common stock. Other than common stock, no Nominee beneficially owns any securities
of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 29%; border-top: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Name of</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Beneficial Owner</P></TD>
    <TD STYLE="width: 40%; border-top: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Shares of Common Stock</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Beneficially Owned</P></TD>
    <TD STYLE="width: 31%; border-top: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Percentage of Outstanding</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Common Stock</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">Ki Yong Choi (1)</TD>
    <TD STYLE="text-align: center">2,186,568</TD>
    <TD STYLE="text-align: center">18.4%</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="text-align: center">Gary Weinhouse</TD>
    <TD STYLE="text-align: center">--</TD>
    <TD STYLE="text-align: center">--</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-align: center">Michael W. Cho</TD>
    <TD STYLE="text-align: center">14,166</TD>
    <TD STYLE="text-align: center">(2)</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="text-align: center">Warren Hoeffler</TD>
    <TD STYLE="text-align: center">--</TD>
    <TD STYLE="text-align: center">--</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-align: center">Michael Coffee</TD>
    <TD STYLE="text-align: center">--</TD>
    <TD STYLE="text-align: center">--</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="text-align: center">Ajay Badlani</TD>
    <TD STYLE="text-align: center">--</TD>
    <TD STYLE="text-align: center">--</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Mr. Choi is the owner of record of 42,600 shares of the
common stock and the beneficial owner of 2,143,968 shares of common stock, which are made up of 1,910,496 shares held by Mr. Choi
in a brokerage account and 233,472 shares held by Mr. Choi, along with his spouse Laura H. Choi, as co-trustees of the their family
trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2) Less than 1%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">None of the Nominees have bought or sold
the Company&rsquo;s securities in open market transactions during the past two years. On November 25, 2011, Mr. Choi exercised
options to purchase 42,500 shares of the Company&rsquo;s common stock and Dr. Cho exercised options to purchase 14,166 shares of
the Company&rsquo;s common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">At the annual meeting of the Company&rsquo;s
stockholders held on August 25, 2011, a group consisting of David I. Portnoy, Mark L. Portnoy, Jonathan H. Wheeler, M.D., George
Gaines, Harold D. Berger, Partner Community, Inc., uTIPu Inc., Mayim Investment Limited Partnership, Jamie H. Zidell, Deborah Portnoy,
Lynne Portnoy, Gilbert Portnoy, Capital Asset Fund #1 Limited Partnership and Charles W. Northcutt, Jr. (the &ldquo;Dissenters&rdquo;)
succeeded in challenging the Company&rsquo;s nominations to the Board of Directors and in obtaining stockholder approval of the
five persons nominated by the Dissenters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Additional Information</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each of the Nominees has consented to be
named in this Proxy Statement and to serve as a director of the Company, if elected. If at the time of the Annual Meeting any Nominee
is unable to serve or for good cause will not serve as a director, the discretionary authority provided in the proxy will be exercised
to vote for a substitute designated by Mr. Choi. Mr. Choi has no reason to believe that any of the Nominees will be unable to serve
as a director or will have good cause for not serving as a director, if elected. In addition, Mr. Choi reserves the right to nominate
substitute persons if the Company makes or announces any changes to its bylaws or takes or announces any other action that has,
or if consummated would have, the effect of disqualifying the Nominees. In any such case, shares represented by the enclosed <B>GOLD
</B>proxy card will be voted for such substitute nominees. The Company&rsquo;s by-laws do not require any advance notice of substitute
nominees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Nominees would not be barred from being
considered independent under applicable NASDAQ rules and the independence standards applicable to the Company under paragraph (a)(1)
of Item 407 of Regulation S-K under the Securities Exchange Act of 1934, as amended. Mr. Choi believes that if the Nominees are
elected, there will be a sufficient number of independent directors to serve on the Board&rsquo;s Audit Committee, Compensation
Committee and Governance Committee. He further believes that Mr. Badlani qualifies as an &ldquo;audit committee financial expert&rdquo;
as defined by the SEC rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Other than as described in this Proxy Statement,
none of the six Nominees for director named in this Proxy Statement nor any other Participants in this solicitation nor any other
person who may solicit proxies on their behalf:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px">&bull;</TD>
    <TD>has purchased or sold any class of securities of the Company within the past two years;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&bull;</TD>
    <TD>has borrowed funds for the purpose of acquiring or holding any shares of common stock purchased by such person within the past two years;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px">&bull;</TD>
    <TD>is now or within the past year has been a party to any contract, arrangement or understanding with any person with respect to any securities of the Company;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&bull;</TD>
    <TD>had or will have a direct or indirect material interest in any transaction, or series of similar transactions, since the beginning of the Company&rsquo;s last fiscal year, or any currently proposed transaction, or series of similar transactions, to which the Company or any of its subsidiaries was or is to be a party and in which the amount involved exceeds $120,000; or</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px">&bull;</TD>
    <TD>has any arrangement or understanding with any person with respect to any future employment with the Company or its affiliates or any future transactions to which the Company or any of its affiliates will or may be a party.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">There are no present plans, understandings
or arrangements whereby any of the Nominees for election as directors will acquire any of the Company&rsquo;s operations or assets.
If elected, the Nominees will appoint a new Chief Executive Officer (as yet unidentified), assess the financial condition of the
Company and put into place an aggressive business plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You are being asked to elect the Nominees.
The enclosed <B>GOLD </B>proxy card may only be voted for the Nominees and does not confer voting power with respect to the Company&rsquo;s
nominees. Accordingly, you will not have the opportunity to vote for any of the Company&rsquo;s nominees if you return the <B>GOLD
</B>proxy card that we provide to you. You can only vote for the Company&rsquo;s nominees by executing a proxy card provided by
the Company. The persons named as proxies in the accompanying <B>GOLD </B>proxy card intend to vote &ldquo;FOR&rdquo; the Nominees
identified above unless specifically instructed to the contrary by the person executing the proxy card.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border: black 1pt solid; padding: 3.75pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>You are urged to vote FOR the election of the Nominees named
        above as directors of the Company by completing, signing, dating and mailing promptly the enclosed GOLD proxy card in the postage-paid
        envelope provided.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROPOSAL NO. 2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE COMPANY&rsquo;S PROPOSAL TO RATIFY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE APPOINTMENT OF INDEPENDENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PUBLIC ACCOUNTANTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company is asking its stockholders to
ratify the appointment of Grant Thornton LLP as independent public accountants for the Company&rsquo;s fiscal year ending November
30, 2012. Mr. Choi does not object to the ratification of the appointment of Grant Thornton LLP as the Company&rsquo;s independent
public accountants for the Company&rsquo;s fiscal year ending November 30, 2012. While this proposal also appears on the proxy
card you may have received from the Company, you cannot vote for Mr. Choi&rsquo;s Nominees on that proxy card, and thus we request
that you use the <B>GOLD </B>proxy card to vote on this matter. If you return the <B>GOLD </B>proxy card and no marking is made,
you will be deemed to have given a direction to vote all the shares represented by the <B>GOLD </B>proxy card for this Proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROPOSAL NO. 3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE COMPANY&rsquo;S PROPOSAL TO APPROVE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE 2012 EQUITY INCENTIVE PLAN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company is asking its stockholders to
approve the 2012 Equity Incentive Plan. Mr. Choi objects to approving the Company&rsquo;s 2012 Equity Incentive Plan, even though,
according to the Company&rsquo;s Quarterly Report on Form 10-Q filed for the quarter ended February 29, 2012, the plan has been
approved by the Company&rsquo;s Board of Directors and stockholder approval is being sought for the purpose of complying with Internal
Revenue Service regulations relating to incentive stock options. Mr. Choi believes that until the Company&rsquo;s performance is
improved, no awards should be made from the 2012 Equity Incentive Plan, especially not to members of the Current Board and current
management. Mr. Choi believes that if the 2012 Equity Incentive Plan fails to be approved by the stockholders at the Annual Meeting,
the future issuance of awards under such plan to members of the Current Board and current management will be much less likely.
While the proposal regarding approval of the 2012 Equity Incentive Plan also appears on the proxy card you may have received from
the Company, you cannot vote for Mr. Choi&rsquo;s Nominees on that proxy card, and thus we request that you use the <B>GOLD </B>proxy
card to vote on this matter. If you return the <B>GOLD </B>proxy card and no marking is made, you will be deemed to have given
a direction to vote all the shares represented by the <B>GOLD </B>proxy card against this Proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>VOTING INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Only stockholders of record on the Record
Date will be entitled to notice of and to vote at the Annual Meeting. Each share of common stock is entitled to one vote. Stockholders
who sell shares before the Record Date (or acquire them without voting rights after the Record Date) may not vote those shares.
Stockholders of record on the Record Date will retain their voting rights in connection with the Annual Meeting even if they sell
their shares after the Record Date. Based on publicly available information, Mr. Choi believes that the only outstanding class
of securities of the Company entitled to vote at the Annual Meeting is the common stock. Shares represented by properly executed
<B>GOLD </B>proxy cards will be voted at the Annual Meeting as marked and, in the absence of specific instructions, will be voted
FOR the election of the Nominees to the Board, FOR the ratification of the appointment of Grant Thornton LLP as independent public
accountants for the Company&rsquo;s fiscal year ending November 30, 2012, AGAINST the approval of the 2012 Equity Incentive Plan
and in the discretion of the persons named as proxies on all other matters as may properly come before the Annual Meeting. If your
shares are held in &ldquo;street name,&rdquo; whether through a broker, bank or other nominee, only such bank, broker or other
nominee can sign the <B>GOLD </B>proxy card with respect to your shares. You are therefore urged to contact the person(s) responsible
for your account and give them instructions for how to complete a <B>GOLD </B>proxy card representing your shares so that a <B>GOLD
</B>proxy card can be timely returned on your behalf. You also should confirm in writing your instructions to the person(s) responsible
for your account and provide a copy of those instructions to our proxy solicitor, Alliance Advisors, LLC, so that they can attempt
to ensure that your instructions are followed. If you wish instead to vote in person at the Annual Meeting, you must obtain a valid
proxy from your broker, bank or other nominee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>QUORUM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In order to conduct any business at the
Annual Meeting, a quorum must be present in person or represented by valid proxies. A quorum consists of stockholders holding a
third of the total number of shares of the Company then issued and outstanding on the records of the Company and entitled to vote.
All shares that are voted &ldquo;FOR,&rdquo; &ldquo;AGAINST&rdquo; or &ldquo;ABSTAIN&rdquo; (or &ldquo;WITHHOLD&rdquo; in the case
of election of directors) and broker non-votes on any matter will count for purposes of establishing a quorum and will be treated
as shares entitled to vote at the Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>VOTES REQUIRED FOR APPROVAL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Election of Directors</I>. A plurality
of the total votes cast by holders of the shares entitled to vote at the Annual Meeting for the Nominees is required for the election
of directors, and the six nominees who receive the most votes will be elected (assuming a quorum is present). Both a broker non-vote
and a vote to &ldquo;WITHHOLD&rdquo; for any nominee for director will be counted for purposes of determining the quorum, but will
have no other effect on the outcome of the vote on the election of directors. Stockholders do not have the right to cumulate their
votes in the election of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Ratification of Appointment of Grant
Thornton LLP</I>. The affirmative vote of the holders of stock having a majority of the votes cast by the holders of all of the
shares of stock present or represented and voting at the Annual Meeting is required to approve the ratification of the appointment
of Grant Thornton LLP (assuming a quorum is present).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Approval of the Company&rsquo;s 2012
Equity Incentive Plan.</I> The affirmative vote of the holders of stock having a majority of the votes cast by the holders of all
of the shares of stock present or represented and voting at the Annual Meeting is required to approve the ratification of the Company&rsquo;s
2012 Equity Incentive Plan (assuming a quorum is present).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">With respect to the ratification of the
appointment of Grant Thornton LLP, the approval of the Company&rsquo;s 2012 Equity Incentive Plan and any matters other than the
election of directors to be voted on at the Annual Meeting, abstentions and broker non-votes will not be taken into account and
will have no effect on the outcome.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ABSTENTIONS AND WITHHOLDS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Abstentions and, in the case of the elections
of directors, withholds will count as votes present for the purpose of determining whether a quorum is present. Abstentions will
have no effect on the proposal to ratify the appointment of Grant Thornton LLP or to approve the Company&rsquo;s 2012 Equity Incentive
Plan, because abstentions do not count as votes cast and the bylaws provide that any matter other than the election of directors
shall be decided by a majority of votes cast at a meeting of stockholders by the holders of shares entitled to vote thereon. In
addition, withholds will have no effect on the outcome of the election of directors because the bylaws provide that the election
of directors shall be determined by a plurality of the total votes cast by holders of the shares entitled to vote on the election
and, therefore, assuming a quorum, only affirmative votes for the Nominees will determine the outcome of the election at the Annual
Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DISCRETIONARY VOTING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If your shares are held in &ldquo;street
name,&rdquo; whether through a broker, bank or other nominee, only such bank, broker or other nominee can sign the <B>GOLD </B>proxy
card with respect to your shares. A &ldquo;broker non-vote&rdquo; occurs if you do not give specific voting instructions to your
broker, bank or other nominee regarding how to vote your shares on your behalf with respect to the election of directors at the
Annual Meeting. The election of directors at the Annual Meeting is a &ldquo;non-routine matter&rdquo; and brokers do not have discretionary
authority to vote your shares of common stock on &ldquo;non-routine matters.&rdquo; If you fail to provide voting instructions,
your broker will have no discretionary authority to vote your shares on your behalf with respect to the election of directors and
your shares will not be voted for any of the Nominees. We strongly encourage you to contact the person(s) responsible for your
account and give them instructions for how to complete a <B>GOLD </B>proxy card representing your shares so that a <B>GOLD </B>proxy
card can be timely returned on your behalf.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REVOCATION OF PROXIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Stockholders of the Company may revoke their
proxies at any time prior to the Annual Meeting by attending the Annual Meeting and voting in person (although attendance at the
Annual Meeting will not in and of itself constitute revocation of a proxy) or by delivering a written notice of revocation. The
delivery of a subsequently dated proxy which is properly completed will also constitute a revocation of any earlier proxy. The
revocation may be delivered either to Mr. Choi in care of Alliance Advisors, LLC at the address set forth in this Proxy Statement
or to the Secretary of the Company at the address provided by the Company in the Company&rsquo;s proxy statement. A revocation
is effective if delivered to the Company. Mr. Choi requests that either the original or photocopies of all revocations be mailed
to him in care of Alliance Advisors, LLC at the address set forth on the back cover of this Proxy Statement so that he will be
aware of all revocations and can more accurately determine if and when proxies have been received from the holders of record on
the Record Date of a majority of the outstanding shares. Additionally, Alliance Advisors, LLC may use this information to contact
stockholders who have revoked their proxies in order to solicit later-dated proxies for the election of the Nominees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><B>If you wish to vote
for the election of the Nominees to the board, for the ratification of the appointment of Grant Thornton LLP or against the approval
of the Company&rsquo;s 2012 Equity Incentive Plan, please sign, date and return promptly the enclosed GOLD proxy card in the postage-paid
envelope provided.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SOLICITATION OF PROXIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The solicitation of proxies pursuant to
this Proxy Statement is being made by Mr. Choi and the other Participants in this solicitation. Proxies may be solicited by mail,
fax, telephone, telegraph, email, other Internet media, in person and by advertisements. The expenses of preparing, printing and
distributing this Proxy Statement and the accompanying form of proxy and the cost of soliciting proxies will be borne by Mr Choi.
Such expenses are estimated to be approximately $[__________], of which approximately $[_____] have been incurred to date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Copies of soliciting materials will be furnished
to banks, brokerage houses and other custodians, nominees and fiduciaries for forwarding to the beneficial owners of shares of
common stock for whom they hold shares, and Mr. Choi will reimburse them for their reasonable out-of-pocket expenses in connection
therewith. Mr. Choi has also retained Alliance Advisors, LLC to assist it in the solicitation of proxies. Alliance Advisors, LLC
will solicit proxies on behalf of Mr. Choi from individuals, brokers, bank nominees and other institutional holders in the same
manner described above. Alliance Advisors, LLC will receive a fee not in excess of $[__________] for its services to Mr. Choi for
the solicitation of the proxies and will be reimbursed for certain expenses. Mr. Choi has also agreed to indemnify Alliance Advisors,
LLC against certain claims. Approximately [___] persons will be employed by Alliance Advisors, LLC to solicit stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Mr. Choi intends to seek, without the vote
of the holders of the common stock, reimbursement from the Company, to the extent permitted by law, for expenses incurred in connection
with this proxy solicitation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PARTICIPANTS IN THE SOLICITATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under applicable regulations of the SEC,
each of the Nominees is deemed to be a &ldquo;participant&rdquo; in Mr. Choi&rsquo;s solicitation of proxies. None of the Nominees
or any of their respective &ldquo;associates&rdquo; has any arrangement or understanding with any person with respect to future
employment or future transactions with the Company. There are no arrangements between any Nominee and any other person, pursuant
to which any person is to be selected as such. There is no family relationship between Nominees, except that Mr. Choi and Dr. Cho
are brothers-in-law. No Nominee or other Participant has any current plans to engage in any transactions with the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECTION 16(a) BENEFICIAL OWNERSHIP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORTING COMPLIANCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">To Mr. Choi&rsquo;s knowledge, other than
as described herein, there was no Participant, as described in this Proxy Statement, who, at any time during the fiscal year ended
November 30, 2011, failed to file on a timely basis the reports required by Section 16(a) of the Securities Exchange Act of 1934,
as amended, with respect to beneficial ownership of the Company&rsquo;s securities during the most recent fiscal year. On May 20,
2011 Mr. Choi filed a Form 4 to report the receipt of stock options on July 14, 2009 and July 27, 2010. Each option grant was for
the purchase of 7,500 shares of common stock. The exercise price of the stock options was $1.58 and $0.94, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ABSENCE OF APPRAISAL RIGHTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under the Delaware General Corporation Law,
you do not have appraisal rights in connection with our solicitation of proxies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ADDITIONAL INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AND OTHER MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Internet Availability of Proxy Materials</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>IMPORTANT NOTICE REGARDING THE AVAILABILITY
OF PROXY MATERIALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE STOCKHOLDER MEETING TO BE HELD
ON [_________], 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>This Proxy Statement and a form of the
accompanying GOLD proxy card are also available on the Internet at www.allianceadvisorsllc.com.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Other Matters</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Other than those discussed above, Mr. Choi
is unaware of any other matters to be considered at the Annual Meeting. However, should other matters, of which he is not aware
within a reasonable time before this solicitation, be brought before the Annual Meeting, the persons named as proxies on the enclosed
<B>GOLD </B>proxy card will exercise their discretion to vote on such matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION FROM THE COMPANY&rsquo;S
PROXY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Participants have omitted from this
Proxy Statement certain disclosure required by applicable law to be included in the Company&rsquo;s proxy statement. Such disclosure
includes, among other things, information regarding securities of the Company beneficially owned by the Company&rsquo;s directors,
nominees and management, certain stockholders&rsquo; beneficial ownership of more than 5% of the Company&rsquo;s voting securities,
information concering executive compensation and information concerning the procedures for submitting stockholder proposals and
director nominations intended for consideration at the Annual Meeting and for consideration for inclusion in the proxy materials
for that meeting. Please refer to the Company&rsquo;s proxy statement for such information. The Participants take no responsibility
for the accuracy or completeness of information contained in the Company&rsquo;s proxy statement. Except as otherwise noted herein,
the information in this Proxy Statement concerning the Company has been taken from or is based upon documents and records on file
with the SEC and other publicly available information. Although we do not have any knowledge indicating that any statement contained
herein is untrue, the Participants do not take any responsibility for the accuracy or completeness of statements taken from public
documents and records that were not prepared by or on behalf of the Participants, or for any failure by the Company to disclose
events that may affect the significance or accuracy of such information. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OTHER MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except as set forth in this Proxy Statement,
the Participants are not aware of any other matter to be considered at the Annual Meeting. However, if the Participants learn of
any other proposals, the persons named as proxies on the GOLD proxy card solicited by Mr. Choi will vote such proxies in their
discretion. Mr. Choi represents that he will deliver, or cause to be delivered, this Proxy Statement and form of proxy to holders
of at least the percentage of the Company&rsquo;s voting power of all the shares of capital stock required under applicable law
to elect the Nominees to the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>IMPORTANT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px">&bull;</TD>
    <TD>Be sure to vote on the <B>GOLD </B>proxy card. We urge you not to sign any proxy card that is sent to you by the Company.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px">&bull;</TD>
    <TD>If any of your shares are held in the name of a bank, broker or other nominee, please contact the person responsible for your account and direct him or her to vote on the <B>GOLD </B>proxy &ldquo;FOR&rdquo; Mr. Choi&rsquo;s nominees.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>If you have any questions, require assistance in voting your
</I><B>GOLD </B><I>proxy card, need additional copies of these proxy materials or directions to attend the Annual Meeting, please
call </I>Alliance Advisors, LLC<I> at the phone numbers listed below.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 70%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Alliance Advisors, LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">200 Broadacres Drive, Third Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Bloomfield, New Jersey 07003</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Banks and brokers call collect: (973) 873-7700</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>All others call toll free: </B>(<B>877)
        777-2338</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><B>Please complete, sign,
date and mail the enclosed GOLD proxy card promptly in the enclosed envelope. No postage is required if mailed within the united
states. By completing, signing, dating and returning the enclosed GOLD proxy card, any proxy previously given by you will be automatically
revoked. Only the latest-dated proxy will count at the annual meeting.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>June [___], 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 94%; vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PLEASE DETACH PROXY CARD HERE</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PRELIMINARY COPY SUBJECT TO COMPLETION</B></P></TD>
    <TD STYLE="width: 6%; vertical-align: bottom; text-align: center">&#9660;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>GOLD PROXY CARD</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CRYO-CELL INTERNATIONAL, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2012 ANNUAL MEETING OF STOCKHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THIS PROXY IS SOLICITED ON BEHALF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>KI YONG CHOI</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROXY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ki Yong Choi is the owner of record of 42,600 shares of the
common stock of Cryo-Cell International, Inc. (the &ldquo;Company&rdquo;) and the beneficial owner of an additional 2,143,968 shares
of the Company&rsquo;s common stock, representing
approximately 18.4% of the Company&rsquo;s outstanding common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The undersigned acknowledges receipt of Mr. Choi&rsquo;s proxy
materials and hereby appoints Ki Yong Choi and Gary Weinhouse as attorneys and agents, with full power of substitution, to vote
all shares of the Company&rsquo;s common stock which the undersigned would be entitled to vote if personally present at the annual
meeting of stockholders of the Company scheduled to be held at [_____________________________], on [_______], 2012 at [____] a.m./p.m.
local time including any adjournments or postponements thereof and at any meeting called in lieu thereof (the &ldquo;Annual Meeting&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The undersigned hereby revokes any other proxy or proxies heretofore
given to vote or act with respect to the shares of the Company&rsquo;s common stock held by the undersigned, and hereby ratifies
and confirms all action the herein named attorneys and proxies, their substitutes, or any of them may lawfully take by virtue
hereof. If properly executed, this Proxy will be voted as directed on the reverse side and in the discretion of the herein named
attorneys and proxies or their substitutes with respect to any other matters as may properly come before the Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><B>Unless otherwise specified
in the squares or spaces provided in this proxy, this proxy will be voted for each of Mr. Choi&rsquo;s nominees for director, for
the ratification of the appointment of Grant Thornton LLP as the Company&rsquo;s independent public accountants and against the
approval of the Company&rsquo;s 2012 Equity Incentive Plan. Should other matters, which Mr. Choi is not aware of, be brought before the Annual Meeting, the persons named as proxies will exercise their discretion to
vote on such matters.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Proxy will be valid until the sooner of one year from the
date indicated on the reverse side and the completion of the Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>IMPORTANT: PLEASE SIGN, DATE AND MAIL
THIS PROXY CARD PROMPTLY!</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONTINUED AND TO BE SIGNED ON REVERSE
SIDE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 94%; vertical-align: top; font-weight: bold; text-align: center"><B>TO DELIVER YOUR PROXY BY MAIL, PLEASE DETACH PROXY CARD HERE</B></TD>
    <TD STYLE="width: 6%; vertical-align: bottom; text-align: center">&#9660;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>GOLD PROXY CARD</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-weight: bold"><B>1. Election of Directors.</B></TD>
    <TD STYLE="width: 50%; font-weight: bold"><FONT STYLE="font-family: Wingdings"><B>x</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp; Please mark votes as in this example</FONT></B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>APPROVAL OF MR. CHOI&rsquo;S PROPOSAL TO ELECT DIRECTORS:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>MR. CHOI RECOMMENDS A VOTE &ldquo;FOR&rdquo; THE NOMINEES
LISTED BELOW IN PROPOSAL NO. 1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 25%; border-bottom: black 1pt solid; font-weight: bold; text-align: center"><B>Nominees</B></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 23%; border-bottom: black 1pt solid; font-weight: bold; text-align: center"><B>For All Nominees</B></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 23%; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Withhold Authority</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>to Vote For All</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Nominees</B></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 23%; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For All Except the</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Nominees Written</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Below*</B></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">Ki Yong Choi</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">Gary Weinhouse</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">Michael W. Cho</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">Warren Hoeffler</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">Michael D. Coffee</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">Ajay Badlani</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Note: If you do not wish for your shares to be voted &ldquo;for&rdquo;
a particular nominee, mark the &ldquo;for all except the nominee(s) written below&rdquo; box and write the name(s) of the nominee(s)
you do not support on the line below. Your shares will be voted for the remaining nominee(s).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*Name of excepted Nominee(s):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mr. Choi intends to use this proxy to vote &ldquo;for&rdquo;
himself, Mr. Weinhouse, Dr. Cho, Dr. Hoeffler, Mr. Coffee and Mr. Badlani.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>2.</B> <B>Approval of the Company&rsquo;s proposal to ratify
the appointment of Grant Thornton LLP as independent public accountants for the Company&rsquo;s fiscal year ending November 30,
2012.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>MR. CHOI RECOMMENDS A VOTE &ldquo;FOR&rdquo;
RATIFICATION OF THE APPOINTMENT OF GRANT THORNTON LLP&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 31%; font-weight: bold; text-align: center"><B>AGAINST</B></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 31%; font-weight: bold; text-align: center"><B>ABSTAIN</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>3.</B> <B>Approval of the Company&rsquo;s 2012 Equity Incentive
Plan.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>MR. CHOI RECOMMENDS A VOTE &ldquo;AGAINST&rdquo; APPROVING
THE COMPANY&rsquo;S 2012 EQUITY INCENTIVE PLAN&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 31%; font-weight: bold; text-align: center"><B>AGAINST</B></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 31%; font-weight: bold; text-align: center"><B>ABSTAIN</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 40%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>(Signature)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>(Signature, if held jointly)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>(Title*)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>IF YOUR SHARES ARE HELD JOINTLY, EACH OF YOU SHOULD SIGN.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>*IF YOU ARE AN EXECUTOR, ADMINISTRATOR, TRUSTEE, CORPORATE
OFFICER, ETC., YOU SHOULD INDICATE THE CAPACITY IN WHICH YOU ARE SIGNING.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>PLEASE SIGN EXACTLY AS YOUR NAME APPEARS ON THIS PROXY.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>PLEASE MARK, SIGN, DATE AND RETURN THIS PROXY CARD USING
THE ENCLOSED ENVELOPE.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0">&nbsp;</P>

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<TYPE>CORRESP
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<FILENAME>filename2.htm
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RICHARDSON &amp; PATEL LLP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">June 6, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Division of Mergers and Acquisitions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">100 F Street NE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">Re:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="text-align: justify">Ki Yong Choi<BR>
PREN14A filed June 6, 2012 (Cryo-Cell International,
Inc.)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Richardson &amp; Patel LLP is legal counsel
to Mr. Ki Yong Choi.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Today, Mr. Choi has filed a preliminary
proxy statement for the purpose of nominating six persons to the board of directors of Cryo-Cell International, Inc. (the &ldquo;Company&rdquo;).
On May 22, 2012, the Company filed a Current Report on Form 8-K disclosing that it intended to have its annual meeting on June
26, 2012. The Company further indicated that stockholders would be asked to elect directors, affirm the Company&rsquo;s choice
of auditor and approve the 2012 Equity Incentive Plan. Due to the extremely tight time schedule, we respectfully request that you
expedite your review in any way possible. Please direct any comments you may have to Kevin Friedmann, Esq. of Richardson &amp;
Patel LLP, 750 Third Avenue, 9<SUP>th</SUP> Floor, New York, New York 10017. Mr. Friedmann&rsquo;s telephone number is (212) 561-5559,
his fax number is (917) 591-6898 and his email address is kfriedmann@richardsonpatel.com. Thank you for your assistance with this
matter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2"><B></B>Very truly yours,</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">RICHARDSON &amp; PATEL LLP&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%">/s/ Kevin Friedmann</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid">Kevin Friedmann</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt"></P>

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