LOS ANGELES, CA--(Marketwire - April 14, 2008) - HemaCare Corporation (OTCBB: HEMA) today announced the execution of a new three year secured debt agreement with Wells Fargo Business Credit, an operating division of Wells Fargo Bank, N.A (“Wells Fargo”). The agreement provides up to $4.75 million in a revolving line of credit based on 85% of eligible accounts receivable, as defined in the agreement, and includes an interest rate of the Wells Fargo prime rate minus .25%. In addition, the agreement provides a $250,000 credit line for the purchase of capital expenditures, and includes an interest rate at the Wells Fargo prime rate. The Company used proceeds from this new debt agreement to assist with the payoff of outstanding obligations to Comerica Bank, and termination of the related debt agreement. A copy of the Wells Fargo credit facility appears as Exhibit 10.39 to HemaCare’s Annual Report on Form 10-K filed with the SEC on April 14, 2008.
