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Osteotech Reports 2008 Third Quarter Financial Results
Date:11/7/2008

s of $1.1 million related to the settlement of certain litigation.

Sam Owusu-Akyaw, Osteotech's President and Chief Executive Officer, stated, "The transition of our business model is almost complete. Our new product development strategy is on track to deliver new biologic products to the marketplace. We continue to execute on our access distribution strategy and we built leverage into our back office structure and systems. I continue to be encouraged by the progress we are making. We are confident the new product introductions scheduled for 2009 and increased effectiveness of our distribution system will be the catalysts to allow us to continue the growth of our base line business."

Mr. Owusu-Akyaw will host a conference call on November 7, 2008 at 9:00 a.m. Eastern Time to discuss 2008 third quarter financial results. You are invited to listen to the conference call by dialing 1-973-200-3375. The conference will also be simultaneously webcast at http://www.osteotech.com. Automated playback will be available two hours after completion of the live call, through midnight, on Friday, November 21, 2008, by dialing 1-706-645-9291 and indicating access code 66480835.

Osteotech, Inc., headquartered in Eatontown, New Jersey, is a global leader in providing OsteoBiologic solutions for regenerative medicine to support surgeons and their patients in the repair of the musculoskeletal system through the development of innovative therapy-driven products that alleviate pain, promote biologic healing and restore function. For further information regarding Osteotech, this press release or the conference call, please go to Osteotech's website at http://www.osteotech.com.

Certain statements made throughout this press release that are not historical facts contain forward-looking statements (as such are defined in the Private Securities Litigation Reform
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SOURCE Osteotech, Inc.
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