EXHIBIT
99.02





Sangui
BioTech International , Inc.


1393
North Bennett Circle


Farmington,
Utah 84025




c/o
Sangui BioTech Gmbh


Alfred-Herrhausen-Str.
44


58455
Witten








Sangui
BioTech International, Inc., reports sales decrease, continued
losses




Shareholders'
Meeting to be held on November 18, 2008




Witten,
Germany, October 22, 2008 - Sangui BioTech International, Inc., published its
financial statements for its fiscal year ended June 30, 2008, on October 21.
According to the report on form 10-KSB as filed with the SEC the company yielded
sales of its cosmetics and wound management products in the amount of
approximately USD 207,000 a decrease of 44% as compared with sales revenues of
approximately USD 372,000 in the previous year. The decrease is attributable to
the company's focus on product development (new cosmetics series, new surgical
application of Chitoskin wound pads) and a lower return on marketing efforts
with respect to cosmetic products. This also entailed higher research and
development cost as well as an increase in General and administrative
expenses.




The
company reports a net loss for the year of approximately USD 854,000 (2007 net
loss: approximately USD 721,000). The resulting accumulated deficit amounts to
approximately USD 23.3 million. Total shareholders' deficit as of June 30, 2006
stands at approximately USD 1.1 million. Net cash used in operating activities
of approximately USD 1.1 million was offset by cash inflows from financing
activities (net of effects of exchange rates) in the amount of approximately USD
1.4 million.




Operations
in the 2008 financial year were financed by investments from several European
investors in the amount of approximately USD 994,000. In accordance with US-GAAP
the amount is shown as foreign currency translation adjustments in the
profit-and-loss statement.




The
company invites its shareholders to attend the General Meeting of Shareholders
on November 18, 2008 on the premises of the Forschungs- und Entwicklungszentrum
in Witten, Germany.




SanguiBioTech
GmbH is a subsidiary of Sangui Biotech International, Inc.


(www.pinksheets.com:
SGBI)




For more
information please contact:




Joachim
Fleing


Phone:
+49 (160) 741 27 17


Fax: +49
(2302) 915 191


e-mail:
fleing@sangui.de




Forward
Looking Statements




Some of
the statements contained in this news release discuss future expectations,
contain projections of results of operation or financial condition or state
other “forward-looking” information. These statements are subject to known and
unknown risks, uncertainties, and other factors that could cause the actual
results to differ materially from those contemplated by the statements. The
forward-looking information is based on various factors and is derived using
numerous assumptions. Important factors that may cause actual results to differ
from projections include, among many others, the ability of the Company to raise
sufficient capital to meet operating requirements. Words such as “anticipates,”
“expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and variations
of such words and similar expressions are intended to identify such
forward-looking statements. Unless required by law, the Company undertakes no
obligation to update publicly any forward-looking statements, whether as a
result of new information, future events or
otherwise.