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Alfacell Announces Receipt of NASDAQ Panel Decision
Date:1/5/2009

SOMERSET, N.J., Jan. 5 /PRNewswire-FirstCall/ -- Alfacell Corporation (Nasdaq: ACEL) today announced that it received notification on January 2, 2009 that the NASDAQ Listing Qualifications Panel has determined to delist the Company's securities from The NASDAQ Stock Market, effective with the open of business on Tuesday, January 6, 2009. The delisting is the result of the Company's non-compliance with the $35 million market value of listed securities requirement and its alternatives for continued listing on The NASDAQ Capital Market.

The Company has been advised that its securities are immediately eligible for quotation in the Pink Sheets, an electronic quotation service for securities traded over-the-counter, effective with the open of business on January 6, 2009. The Company's shares will continue to trade under the symbol ACEL. The Company's common stock may, in the future, also be quoted on the Over-the-Counter Bulletin Board (the "OTCBB"), an electronic quotation service maintained by the Financial Industry Regulatory Authority (or FINRA), provided that a market maker in the Company's common stock files the appropriate application with, and such application is cleared by, FINRA. The Company anticipates disclosing further trading venue information for its common stock once such information becomes available.

The Company has the right to request that the NASDAQ Listing and Hearing Review Panel review this decision and the Company may pursue this right. If the Company pursues this right of review, the decision to delist the Company's securities from The NASDAQ Stock Market will not be stayed while such review is pending.

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) thro
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SOURCE Alfacell Corporation
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