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CEL-SCI Corporation Announces 2008 Financial Results
Date:1/14/2009

harmaceuticals and Orient Europharma), joint ventures and/or financings to start the Phase III clinical trial with its cancer drug Multikine. In addition, in late December 2008 CEL-SCI put in place a $5 million equity line of credit. In the meantime, in light of the challenging capital markets, management has been very successful in reducing its monthly cash expenditures.

In Phase II clinical trials Multikine was shown to be safe and well-tolerated, and to improve the patients' overall survival by 33% at a median of three and a half years following surgery. The U.S. Food and Drug Administration (FDA) gave the go-ahead for a Phase III clinical trial with Multikine in January 2007 and granted orphan drug status to Multikine in the neoadjuvant therapy of squamous cell carcinoma (cancer) of the head and neck in May 2007.

Multikine is also the first immunotherapeutic agent being developed as a first-line standard of care treatment for cancer. It is administered prior to any other cancer therapy because that is the period when the anti-tumor immune response can still be fully activated. Once the patient has advanced disease, or had surgery or has received radiation and/or chemotherapy, the immune system is severely weakened and is less able to mount an effective anti-tumor immune response. Other immunotherapies are administered after the patient has received chemotherapy and/or radiation therapy, which can limit their effectiveness.

The Company has operations in Vienna, Virginia and Baltimore, Maryland. CEL-SCI's other products, which are currently in pre-clinical stage, have shown protection against a number of diseases in animal tests and are being tested against diseases associated with bio-defense.

                                CEL-SCI CORPORATION
                        CONSOLIDATED STATEMENTS OF OPERATIONS
                       YEARS ENDED SEPTEMBER 30, 2008 and 2007

   
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