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Alfacell Receives Going Concern Audit Opinion
Date:10/23/2008

SOMERSET, N.J., Oct. 23 /PRNewswire-FirstCall/ -- Alfacell Corporation (Nasdaq: ACEL) today announced that its Annual Report on Form 10-K for the fiscal year ended July 31, 2008, filed with the Securities and Exchange Commission on Oct. 14, 2008, included an audit opinion from its independent registered public accounting firm that expressed doubt about the company's ability to continue as a going concern. The company makes this announcement in compliance with NASDAQ Marketplace Rule 4350(b)(1)(B), which requires that a Nasdaq-listed company that receives an audit opinion in which the auditor expresses doubt about the company's ability to continue as a going concern for a reasonable period of time must make a public announcement through the news media disclosing the receipt of such opinion. This announcement and press release do not represent any amendment to the company's 2008 Annual Report on Form 10-K.

About Alfacell Corporation

Alfacell Corporation is the first company to advance a biopharmaceutical product candidate that works in a manner similar to RNA interference (RNAi) through late-stage clinical trials. The product candidate, ONCONASE, is an RNase that overcomes the challenges of targeting RNA for therapeutic purposes while enabling the development of a new class of targeted therapies for cancer and other life-threatening diseases. In addition to a recently completed Phase IIIb study in malignant mesothelioma, Alfacell is currently planning for Phase II clinical trials in other oncology indications. For more information, visit http://www.alfacell.com.

Media and Investor Contact:

David Schull or Wendy Lau

Russo Partners

212-845-4271

David.Schull@russopartnersllc.com

Wendy.Lau@russopartnersllc.com


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SOURCE Alfacell Corporation
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