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Firm	Analyst
Cowen and Company	Anant Padmanabhan, CFA
JMP Securities	Jason N. Butler, PhD
LifeTech Capital	Stephen M. Dunn
Maxim Group, LLC	Yale I. Jen
Morgan Joseph & Co. Inc	Shiv Kapoor
Ray Dirks Research	Ray Dirks

NeoStem, Inc. is followed by the analyst(s) listed above. Please note that any opinions, estimates or forecasts regarding NeoStem, Inc.’s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of NeoStem, Inc. or its management. NeoStem, Inc. does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.