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AEterna Zentaris Sells Quebec City Building for $7.1 million
Date:6/27/2008

All amounts are in U.S. dollars

QUEBEC CITY, June 27 /PRNewswire-FirstCall/ - AEterna Zentaris Inc. (NASDAQ: AEZS; TSX: AEZ;), a global biopharmaceutical company focused on endocrine therapy and oncology, today announced it has completed the sale of its Quebec City property for a purchase price of $7.1 million, payable in cash. AEterna Zentaris also entered into a long-term lease agreement enabling the Company to continue occupying its current space for its Quebec City operations.

Juergen Ernst, Chairman and Interim President and CEO of AEterna Zentaris stated, "We are very pleased to have completed the sale of our Quebec City property. This is in line with our corporate strategy which includes divesting non-core assets to provide additional non-dilutive financing. The funds will be dedicated to our ongoing Phase 3 program with cetrorelix in benign prostatic hyperplasia."

About AEterna Zentaris Inc.

AEterna Zentaris Inc. is a global biopharmaceutical company focused on endocrine therapy and oncology, with proven expertise in drug discovery, development and commercialization.
News releases and additional information are available at http://www.aezsinc.com.

Forward-Looking Statements

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the U.S. Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which could cause the Company's actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, among others, the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of the Company to take advantage of business opportunities in the pharmaceutical industry, uncertainties related to the regulatory process and general changes in economic conditions. Investors should consult the Company's quarterly and annual filings with the Canadian and U.S. securities commissions for additional information on risks and uncertainties relating to the forward-looking statements. Investors are cautioned not to rely on these forward-looking statements. The Company does not undertake to update these forward-looking statements. We disclaim any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments except if we are requested by a governmental authority or applicable law.


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SOURCE AETERNA ZENTARIS INC.
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