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Icahn Responds to Cornelius
Date:9/23/2008

atments designed to address the medical needs of patients with a variety of cancers. The Company's research and development programs include growth factor blockers and angiogenesis inhibitors. ImClone Systems' headquarters and research operations are located in New York City, with additional administration and manufacturing facilities in Branchburg, New Jersey. For more information about ImClone Systems, please visit the Company's web site at http://www.imclone.com.

Important Information about the Press Release

The tender offer referred to in this press release has not commenced and this press release is neither an offer to buy nor invitation to purchase any securities, or an offer to sell any securities. This does not constitute a recommendation as to any tender offer nor does this communication constitute a solicitation of any vote or approval.

Investors and security holders are urged to read any disclosure documents filed with the SEC including any tender offer statement and Imclone Systems' recommendation when it is available because they contain important information. Investors and security holders will be able to obtain a free copy of the disclosure documents and recommendation (when they are available) and other documents filed with the SEC at the SEC's website at http://www.sec.gov or from Imclone Systems at its office at 180 Varick Street, New York, NY 10014

Forward Looking Information

Certain matters discussed in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain ri
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SOURCE Carl Icahn
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