Xvivo to be a more independent unit within Vitrolife

Xvivo to be a more independent unit within Vitrolife

Vitrolife's subsidiary Xvivo, with business activities within the organ
transplant area, is in an intensive and exciting development phase which
now requires greater focus, and will thus become a more independent unit
within the Vitrolife Group. Vitrolife's former CEO Magnus Nilsson will,
as the CEO of Xvivo, be able to focus entirely on this line of business.
The Board intends to propose to the shareholders that Magnus be given
the opportunity to buy into the company and become the owner of
approximately 15% of Xvivo. Xvivo will also have an external Board.

As was announced on October 31, Magnus Nilsson will, after nine years as
the CEO of Vitrolife, in the time ahead focus on leading the subsidiary
Xvivo Perfusion AB. Magnus will report to a separate, externally
recruited Board. Fredrik Mattsson, Investment Director of Bure Equity
AB, who is also on the Board of Vitrolife AB, will be the new Chairman
of the Board. As a result of this, Thomas Axelsson, as announced on
November 17, has been appointed acting CEO with focus on the fertility
business while the recruitment process is ongoing to find a permanent
CEO.

“It feels very stimulating to be able to work full time in the time
ahead on realizing the great potential value that we see in Vitrolife's
transplantation business. I once started this business and it feels very
stimulating and challenging to now work on taking Steen Solution™ out on
to the market,” says Magnus Nilsson.

In conjunction with Magnus Nilsson changing position, his conditions of
employment have been renegotiated and a final settlement has been
reached regarding the former agreement. As a consequence of this, Magnus
Nilsson will receive an extra payment, for which the total cost will be
approximately SEK 3.3 million, including pension provisions and social
security contributions. This cost will be charged against income for the
fourth quarter of 2011.

Furthermore, the Board also intends to propose to Vitrolife's
shareholders at a future meeting of the shareholders that Magnus Nilsson
be given the opportunity to buy into the Xvivo subsidiary at current
market rates. It is estimated that the proposal will comprise ownership
of approximately 15% and the forms for this are currently being worked
out.

“The Board considers that it is important for Vitrolife to bring in
Magnus Nilsson as an owner of Xvivo. Magnus' knowledge within the
transplantation area, both regarding research and the commercial
aspects, is a great asset in the continuing work of putting Steen
Solution™ on the market,” says Patrik Tigerschiöld, Chairman of
Vitrolife's Board.

Gothenburg, November 24, 2011

VITROLIFE AB (publ)

Patrik
Tigerschiöld                                                            
                                        

Chairman of the Board

Queries should be addressed to:

Patrik Tigerschiöld, phone 46 8 614 00 22

Vitrolife is required to publish the information in this press release
in accordance with the Swedish Securities Market Act and/or the
Financial Instruments Trading Act. The information was submitted for
publication on November 24, at 8:30 a.m.

This is a translation of the Swedish version of the press release. When
in doubt, the Swedish wording prevails.