[February 10, 2012]

Entest BioMedical Inc. Declares Dividend of Preferred Stock

Entest BioMedical Inc. (OTCQB: ENTB), a veterinary biotechnology company and operator of veterinary hospitals, today announced the declaration of a dividend of one share of the Company's Series B Preferred Stock for every eight shares of Entest BioMedical, Inc. Common Stock owned as of the Record Date. The Record date is February 21, 2012 and the dividend is set to be paid on or about February 28, 2012.

The Company's Series B Preferred Stock is a newly authorized series of preferred stock ranking senior to the Company's common stock as to dividends, distributions or as to distributions of assets upon liquidation, dissolution, or winding up of the Company.

Holders of Series B Preferred Stock will be entitled to receive, when and if declared by the board of directors of the Company out of funds of the Company legally available, noncumulative cash dividends of $0.02 per quarter per Series B Preferred Share as well as additional dividends equal to dividends paid to common shareholders.

Upon any liquidation, dissolution, or winding up of the Company the holders of Series B Preferred Stock shall be entitled to receive out of the assets of the Company an amount equal to $0.10 per share of Series B Preferred Stock pls all declared and unpaid dividends before any distribution or payment may be made to any of the holders of Common Stock or any other series of preferred stock.

A copy of The Certificate of Designations establishing the voting powers, designations, preferences, limitations, restrictions and the relative rights of the Series B Preferred Stock has been filed as an exhibit attached to the Company's current report on Form 8-K filed with the Securities and Exchange Commission (SEC (News - Alert)) on February 8, 2012 and can be found on the SEC's website at www.sec.gov.

About Entest BioMedical Inc.

Entest BioMedical Inc. (http://www.entb.net/) is a veterinary biotechnology company focused on developing therapies that harness the animal's own reparative / immunological mechanisms. The Company's products include an immuno-therapeutic cancer vaccine for canines (ImenVax™). ImenVax™ is less invasive and less traumatic in treating cancer. Additionally, the Company serves as the contract research organization conducting a pilot study on a stem cell based canine osteoarthritis treatment (developed by RenovoCyte LLC) utilizing a 'universal donor' stem cell. Entest is also building a network of veterinary hospitals (present locations include one in Santa Barbara, CA (News - Alert) and another in Eugene, OR) - which serve as distribution channels for its products.

Forward-Looking Statements

This news release may contain forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.

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