1156295--12/8/2008--SERACARE_LIFE_SCIENCES

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{customer, product, revenue}

{stock, price, share}

{cost, regulation, environmental}

{acquisition, growth, future}

{regulation, government, change}

{product, market, service}

{financial, litigation, operation}

{operation, international, foreign}

{stock, price, operating}

{competitive, industry, competition}

{regulation, change, law}

{condition, economic, financial}

{capital, credit, financial}

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We may need additional capital. Failure to obtain alternative financing to fund a financing shortfall created by a potential breach of our lender s funding commitment could negatively impact our growth strategy. The terms of our debt covenants could limit how we conduct our business and our ability to raise additional funds. We depend on contracts with government agencies, which if terminated or reduced, would have a material adverse effect on our business. We derive a substantial amount of our revenue from a limited number of customers. An interruption in the supply of diagnostic and therapeutic products at competitive prices that we purchase from third parties could cause a decline in our revenue. We may be unable to realize our growth strategy if we cannot identify suitable acquisition opportunities in the future or if we cannot integrate acquired businesses or technologies into our business. Our success depends in large part upon the continued services of our senior executives and other key employees, including certain sales, consulting and technical personnel. We may face additional expenses and cash funding needs pending the sale of our manufacturing facility in West Bridgewater, Massachusetts. Lack of early success with our pharmaceutical and biotechnology customers can shut us out of future business with those customers. Our profits will likely decline if we are unable to pass price increases on to customers or obtain necessary raw materials at their current prices. Our failure to improve our product offerings and develop and introduce new products may negatively impact our business. We are subject to the risks associated with international sales. Our financial condition could suffer if we experience unanticipated costs or enforcement action as a result of the Department of Justice investigation and other lawsuits. If we fail to maintain adequate quality standards for our products and services, our business may be adversely affected and our reputation harmed. Our principal shareholders may exert significant influence on us. We heavily rely on air cargo carriers and other third party package delivery services, and a significant disruption in these services or significant increases in prices may disrupt our ability to import or export materials, increase our costs and lower our profitability. We have limited manufacturing capabilities, and if our manufacturing capabilities are insufficient to produce an adequate supply of products at appropriate quality levels, our growth could be limited and our business could be harmed. The cost of compliance or failure to comply with the Sarbanes-Oxley Act of 2002 may adversely affect our business. A disaster at our facilities could substantially impact our business. Our inability to protect our intellectual property rights could prevent us from selling our products and hinder our financial performance. Product liability claims could have a material adverse effect on our reputation, business, results of operations and financial condition. Foreign restrictions on importation and exportation of blood derivatives. RISKS RELATED TO OUR INDUSTRY Reduced demand due to economic downturn in overall market. The industries and market segments in which we operate are highly competitive, and we may not be able to compete effectively with larger companies with greater financial resources than we have. We are subject to significant regulation by the government and other regulatory authorities. Failure to comply with environmental, health and safety laws and regulations, including the federal Occupational Safety and Health Administration Act, may result in fines and penalties and loss of licensure, and have a material adverse effect upon the Company s business. Changes in demand for plasma-derived products and the availability of donated plasma could affect profitability. We are subject to governmental reforms and the adequacy of reimbursement. RISKS RELATED TO OUR STOCK Our stock could be delisted if our stock price falls below $1.00. Our stock price could be volatile. We may issue preferred stock in the future. Anti-takeover effects of certain charter and bylaw provisions. Our shareholders ability to sell shares of the Company s stock may be limited.

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1156295--12/8/2008--SERACARE_LIFE_SCIENCES_INC