What: Aastrom Biosciences, Inc. Third Quarter Fiscal Year End 2006 Investor Conference Call

When: Wednesday, May 10, 2006 @ 11:00 am (EDT)

Where: http://www.vcall.com/IC/CEPage.asp?ID=104209

How:  • For live Internet access, simply log on to the web at the address above.  
          • For phone access, interested parties should call toll-free (877) 407-9205 before the start of the call to register and identify themselves as registrants of the "Aastrom Conference Call".  Any registered caller on the toll-free line may ask for call operator for directions to be placed in the queue for the Question & Answer session.  If calling from outside the U.S., please use the international phone number (201) 689-8054.
          • To download the podcast, simply log on to the web at the address above.

Contact: Kris Maly, Investor Relations Department, (734) 930-5777 or mail@aastrom.com
 
If you are unable to participate during the live call, the webcast will be available for replay at http://www.investorcalendar.com/ for 60 days.  Through May 20, 2006, the audio replay of the call will be available by dialing toll-free (877) 660-6853, or from outside the U.S. (201) 612-7415.  When prompted on the phone, the Account # is: 286, and the Conference ID# is: 201274.

Aastrom Biosciences, Inc. (Nasdaq: ASTM) is developing products for the repair or regeneration of multiple human tissues, based on its proprietary Tissue Repair Cell (TRC) adult stem cell technology.  Aastrom's TRC products contain large numbers of stromal, stem and progenitor cells that are produced from a small amount of bone marrow cells originating from the patient.  The AastromReplicell® System, an industry-unique automated cell product manufacturing platform, was developed for the production of standardized, patient-specific TRC products.  TRC products have been used safely in humans as a substitute for bone marrow stem cells, and are currently in clinical trials for bone grafting (long bone fractures and spine fusion) and blood vessel regeneration (diabetic limb ischemia) applications.  The Company has recently reported positive interim clinical trial results for its TRCs demonstrating both the clinical safety and ability of TRCs to induce healthy new tissue growth (long bone fractures and jaw bone reconstruction).  Most recently, the Company's proprietary TRCs received an Orphan Drug Designation from the U.S. Food and Drug Administration (FDA) for use in the treatment of osteonecrosis of the hip.

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