EANS-Adhoc: Oxygen Biotherapeutics Announces Dismissal of Chris J. Stern as CEO and Appointments of Michael B. Jebsen as Interim CEO and Rene Eckert as Interim Chairman. -Oxygen Biotherapeutics to res

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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25.08.2011

MORRISVILLE, NC, August 24, 2011— The Board of Directors of Oxygen
Biotherapeutics, Inc. (NASDAQ & SIX Swiss Exchange: OXBT) today
announced that Chris J. Stern is no longer Chief Executive Officer
and Chairman of the company, effective immediately. Due to the
circumstances surrounding his dismissal, Mr. Stern will not be paid
any severance in connection with the termination of his employment or
his departure from the Board.

Oxygen Biotherapeutics has named Michael B. Jebsen as interim Chief
Executive Officer. He will retain his positions as Chief Financial
Officer and Treasurer. Mr. Jebsen has served as Oxygen´s Chief
Financial Officer, Secretary and Treasurer since August 2009 and has
a thorough understanding of Oxygen´s day-to-day business operations,
overall strategic plan and financial situation. The Board of
Directors is confident that Mr. Jebsen can lead Oxygen through a
smooth transition until a permanent Chief Executive Officer is
appointed.

"We will move swiftly, but deliberately, in our search for a new
CEO," said Rene Eckert, interim Chairman of the Board. "We are
fortunate to have Michael and believe that he has the knowledge,
ability and sound judgment to lead our company during this transition
period. Our Board remains in strong support of the company and we
believe we have the products and technology needed to advance the
company to success."

"In light of our recent June financing we are in a stable financial
position to pursue our development programs and move forward," added
Mr. Jebsen, Oxygen´s interim Chief Executive Officer. "I look
forward to continue working closely with our dedicated employees and
the Board to execute our strategies and achieve our goals."

In connection with these events, the company´s General Annual Meeting
of Shareholders for fiscal year 2011 has been postponed one week. It
will now occur on September 30, 2011. The record date for the meeting
will remain August 19, 2011. Specific details will be provided in the
definitive proxy statement that will be mailed to shareholders of
record.

The company is scheduled to report its first quarter fiscal year 2012
financial results on September 14, 2011.

end of ad-hoc-announcement ==========================================
====================================== Mr. Jebsen first joined Oxygen
as its Accounting Manager in April 2009, and was elected Chief
Financial Officer, Executive Vice President Finance and
Administration, Corporate Secretary and Treasurer in August 2009.
Before joining Oxygen, he was an auditor with Grant Thornton, LLP
from July 2003 through December 2005 and from April 2008 through
April 2009. In addition, Mr. Jebsen held various positions, including
Chief Ethics Officer, Senior Internal Auditor, and Senior Financial
Analyst with RTI International, a non-profit research and development
organization, from January 2006 to February 2008. Mr. Jebsen holds a
Master of Science in Accounting from East Carolina University and is
a Certified Public Accountant, licensed in North Carolina.

Mr. Eckert has served as a director of Oxygen Biotherapeutics since
October 2009. He was Chairman and Chief Executive Officer and a
partner at Boehme Filatex, Inc. of Reidsville, NC, from 1981 to 2007.
He started the specialty chemical company with two partners in 1981.
They formed the company into a leading North American textile
chemical corporation with subsidiaries in Canada and Mexico. In
2007, the corporation was sold to Dystar, an international dyestuff
company.

About Oxygen Biotherapeutics, Inc.

Headquartered in Morrisville, NC, Oxygen Biotherapeutics, Inc. is
developing medical and cosmetic products that efficiently deliver
oxygen to tissues in the body. The company has developed a
proprietary perfluorocarbon (PFC) therapeutic oxygen carrier product
called Oxycyte® that is being formulated for both intravenous and
topical delivery. The company has commercialized its DERMACYTE® line
of oxygen-rich skin care products. In addition, the company is
focused on perfluorocarbon-based oxygen carriers for use in traumatic
brain injury, decompression sickness, personal care, and topical
wound healing. More information is available at www.oxybiomed.com or
www.DermacyteUS.com.

Caution Regarding Forward-Looking Statements This news release
contains certain forward-looking statements by the company that
involve risks and uncertainties and reflect the company’s judgment as
of the date of this release. These statements include the management
transition, and expansion of research and development of the Oxycyte
product line, including the timing of the introduction of these new
products. The forward-looking statements are subject to a number of
risks and uncertainties including matters beyond the company’s
control that could lead to delays in new product introductions and
customer acceptance of these new products, and other risks and
uncertainties as described in our filings with the Securities and
Exchange Commission, including in the current annual report on Form
10-K filed on July 15, 2011. The company disclaims any intent or
obligation to update these forward-looking statements beyond the date
of this release. This caution is made under the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.

Further inquiry note:
Ellen Corliss
Vice President, Corporate Communications
& Investor Relations
Oxygen Biotherapeutics, Inc
One Copley Pkwy, Suite 490
Morrisville, NC 27560
Direct Telephone: +1 919 855 2112
Direct Fax: +1 919 806 4417
Email: e.corliss@oxybiomed.com

end of announcement euro adhoc
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issuer: Oxygen Biotherapeutics Inc.
2530 Meridian Pkwy
US-27713 Durham, NC
phone: +1(919)7607606
FAX: +1(419)7108764
mail: c.stern@oxybiomed.com
WWW: www.oxybiomed.com
sector: Biotechnology
ISIN: US69207P2092
indexes: SSIRT
stockmarkets: Nasdaq: New York, Main Standard: SIX Swiss Exchange
language: English