Ann Arbor, Michigan, September 23, 2005 -- Aastrom Biosciences, Inc. (Nasdaq: ASTM) today announced that R. Douglas Armstrong, Ph.D., Chief Executive Officer and Chairman, will present at the UBS Global Life Sciences Conference. The conference will be held September 26th-29th at the Grand Hyatt in New York City. Dr. Armstrong is scheduled to present in Ballroom A at 2:30 p.m. (Eastern Time) on Tuesday, September 27th.

The presentation will be audio webcast live and available for replay through the UBS website. To access the webcast, log onto the web at http://event.streamx.us/event/20050926. The replay of the presentation will begin 3 hours after the actual presentation time and will be available until October 29, 2005.

About Aastrom Biosciences, Inc.

Aastrom Biosciences, Inc. (Nasdaq: ASTM) is developing patient-specific products for the repair or regeneration of human tissues, utilizing the Company's proprietary adult stem cell technology. Aastrom's strategic position in the tissue regeneration sector is enabled by its proprietary Tissue Repair Cells (TRCs), a mix of bone marrow-derived adult stem and progenitor cells manufactured in the AastromReplicell® System, an industry-unique automated cell production system. TRCs are the core component of the products Aastrom is developing for severe bone fractures, ischemic vascular disease, jaw reconstruction and spine fusion, with Phase I/II level clinical trials active in the U.S. and EU for some of these indications.

For more information, visit Aastrom's website at www.aastrom.com.

This document contains forward-looking statements, including without limitation, statements concerning planned clinical trials, product development objectives, potential advantages of TRCs, and potential product applications, which involve certain risks and uncertainties. The forward-looking statements are also identified through use of the words "planned," and other words of similar meaning. Actual results may differ significantly from the expectations contained in the forward-looking statements. Among the factors that may result in differences are potential patient accrual difficulties, clinical trial results, potential product development difficulties, the effects of competitive therapies, regulatory approval requirements, the availability of financial and other resources and the allocation of resources among different potential uses. These and other significant factors are discussed in greater detail in Aastrom's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.

CONTACTS:
Kris M. Maly or Becky Anderson
Investor Relations Department
Aastrom Biosciences, Inc.
Phone: (734) 930-5777

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