The present invention provides a method of stimulating vasculogenesis of myocardial infarct damaged tissue in a subject comprising: (a) removing stem cells from a location in the subject (b) recovering endothelial progenitor cells in the stem cells (c) introducing the endothelial progenitor cells from step (b) into a different location in the subject such that the precursors migrate to and stimulate revascularization of the tissue. The stem cells may be removed directly or by mobilization. The endothelial progenitor cells may be expanded before introduction into the subject. The present invention further provides a method of inducing angiogenesis in peri-infarct tissue. The present invention further provides a method of selectively increasing the trafficking of human bone marrow-derived endothelial cell precursors to the site of tissue damaged by ischemic injury which comprises: (a) administering endothelial progenitor cells to a subject (b) administering chemokines to the subject so as to thereby attract endothelial cell precursors to the ischemic tissue. The present invention provides a method of stimulating vasculogenesis or angiogenesis of myocardial infarct damaged tissue in a subject comprising injecting allogeneic stem cells into a subject. The present invention further provides a method of improving myocardial function in a subject that has suffered a myocardial infarct comprising any of the instant methods. The present invention further provides a method of improving myocardial function in a subject that has suffered a myocardial infarct comprising injecting G-CSF or anti-CXCR4 antibody into the subject in order to mobilize endothelial progenitor cells.