VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 29, 2012) -RepliCel Life Sciences Inc. (the "Company" or "RepliCel") (OTCBB:REPCF) wishes to clarify statements made in its April 27, 2012 news release. Specifically, comments made by NBT Equities Research LLC analyst Tobin Smith, concerning price targets and statements made in his report which were published in newsletters available online or delivered via email newsletter, including by TheHotPennyStocks.com, hotstocked.com, StockGuru and in other disclosures, were the thoughts and views of Tobin Smith, however were paid for and authorized by the Company. The Company wishes to make a general retraction in respect of these disclosures. Specifically, the Company wishes to make clear that, given the Company's current stage of development, price targets and estimates pertaining to expected increases in the Company's share price, as published in the aforementioned reports are premature and cannot be relied upon. Price targets and dramatic increases in share prices indicated in such publications may never be met and there are many risks and uncertainties pertaining to the Company's business and shares that may cause investors to lose their entire investment in the Company, including that the Company's technology may not work as expected and, even if it does work as expected, the Company may be unable to successfully commercialize the technology or protect its intellectual property from competitors. Other risks and uncertainties pertaining to the Company's business are set out in the Company's annual report, which is filed on Sedar ([ www.sedar.com ]) and Edgar ([ www.sec.gov ]).

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