Cannabis Science Issues Corporate & Operations Guidance to Shareholders in Regards to Dividend, Market Potential, and Anecdotal Reports

February 2, 2012

DENVER--(BUSINESS WIRE)-- Cannabis Science, Inc. (OTCBB:CBIS.ob - News), a pioneering US biotech company developing pharmaceutical cannabis products, is pleased to report an overall corporate and operations guidance outlook as very positive for 2012.

Cannabis Sciences’ analysis of the worldwide market potential for its formulations for medical cannabis treatments of critical ailments include three main markets for distribution: FDA approved prescriptions, OTC Non-psychoactive nutraceuticals, and licensed dispensaries in legal Medical Marijuana states (currently 16).

Due to this successful self medicating patient use of our cannabis extract based formulations in Colorado and other international anecdotal cases reports from patients with Cancer, Cannabis Science is pursing its FDA initiatives immediately with its initial indication targets including basal cell and squamous cell carcinomas.

The Company is currently tracking several self medicating cancer patients, there have been anecdotal reports, apparently successful, of self-medicated cannabis treatment for several cancer patients, including one whose physician said it was "the worst case of squamous cell carcinoma cancer he had ever seen,” while another physician refused to continue tending. Images and biopsy reports available on the www.cannabisscience.com website.

Cannabis Science is currently assessing market makers for the required 15c211 filing for the new class of shares to commence trading. The 15c211 filing is one of the many steps required to issue and commence trading with the new class of shares to be issued from the dividend including a new CUSIP number and new trading symbol.

On November 3, 2011, Cannabis Science, Inc.(the "Company"), filed an amendment to its Articles of Incorporation to create an additional class of common stock pursuant to the Company's Definitive Information Statement on Schedule 14C which was filed with the Securities and Exchange Commission on August 18, 2011 (information incorporated by reference herein).

Upon completion, the Company will have three classes of shares: Class A Common Stock (new class), Class B Common Stock (current class) and Series A Preferred Stock. Only two of the classes will trade; Class A Common and Class B common will each trade with its own separate trading symbol. The Company will issue the dividend to its shareholders of record as of December 31, 2010, so they receive 1 share of the new Class A common stock and 1 non-transferable share purchase warrant for each 10 shares of the current common stock that they owned as of the shareholder record date. The Company will continue to report progress as the process continues to move forward until competition.

The company has announced that they have a variety of cannabis-based formulations that target critical ailments worldwide as outlined in the company website. Illnesses ranging from cancer to pain management give the company a large market and revenue base potential. The Company has a patient oriented, holistic approach to healing with whole plant cannabis extract formulations. We are dedicated to working with Federal, State, and Local regulatory agencies, as well as similar agencies in other countries such as Health Canada, and other international regulatory bodies.

About Cannabis Science, Inc.
Cannabis Science, Inc. is at the forefront of pharmaceutical grade medical marijuana research and development. The Company works with world authorities on phytocannabinoid science targeting critical illnesses, and adheres to scientific methodologies to develop, produce and commercialize phytocannabinoid-based pharmaceutical products. In sum, we are dedicated to the creation of cannabis-based medicines, both with and without psychoactive properties, to treat disease and the symptoms of disease, as well as for general health maintenance.

Forward Looking Statements
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based drugs. Cannabis Science, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.

Contacts
Cannabis Science Inc.
Dr. Robert J. Melamede, 1-888-889-0888
President & CEO
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www.cannabisscience.com
or
Robert Kane, 1-561-234-6929
Investor Relations Management
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www.cannabisscience.com