Charter of Corporate Conduct

We, MEDINET, will not only practice higher standard of compliance, but we also take prudent course of action with the highest ethics as a member of an enterprise in the cell therapy related business. In order to perform our mission, "We create innovative technologies for building future medical care, and continue to bring such technologies into the public in a prompt and efficient manner," we states our codes of conduct as the following:

1.Responsibility to Patients

We will consider the highest priority in our business activities as patients' health and Quality of Life (QOL), and will provide highly secure and superior quality services, which is also useful for the Public, to Medical Institutions.

2.Protection of the Human Rights and Safety for Examinees

We will ensure protection for the human rights and safety of examinees with the utmost scientific strictness, and will undertake experimentation on animals by following the concepts based upon animal welfare.

3.Disclosure of Management Information

We will ensure transparency and soundness in management of our company through the disclosure of corporate information in a timely and fair manner, and will provide the appropriate corporate information not only to our shareholders, but also to the public.

4.Compliance with Social Norms

We will not engage in bribery, unlawful political contributions, payola, or other illegal actions with any political parties, the government and the medical community. We will also emphasize fairness and transparency with free competition in all of our business activities.

5.Management of Corporate Secrets

We will ensure to manage protection of corporate secrets and personal information acquired through our business activities in efficient and appropriate manner. We will also protect intellectual property rights of our company and employees, and will not neither infringe nor unlawfully use any intellectual property rights of third parties.

6.Respect for Human Rights

We will respect the human rights, personality and individuality of all of our employees, and will ensure a safe workplace without discrimination.

7.Coexistence with the Environment

We will assiduously avoid any accidents or disasters, and will protect the global environment. We will not only comply with various environment related laws but also make a concerted effort to make harmonious coexistence with the global environment.

8.Good Corporate Citizen

We will collaborate and cooperate with the society and will make our contributions to the society as good corporate citizen.

9.Respect for Foreign Cultures and Customs

We will not only comply with the regulations of each nation but also respect their various cultures and customs when we engage in international business activities. We will pursue a corporate management for the contribution with the development of the society, in which we are engaged.

10.The responsibility of the Member of the Board and Executive Officers

The member of the board and executive officers recognize their responsibilities to exercise an exemplary leadership for taking prudent course of actions under this Charter, and ensure to establish internal structure for employees to follow this Charter in business activities. In the event that infringement of this Charter occurs, the member of the board and executive officers will clarify the responsibilities and cause of such infringement by the disclosure, and will set preventive measures of such infringement.

Created 5/2009