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Immtech Announces Update on Business Operations
Date:3/12/2008

NEW YORK, March 12 /PRNewswire-FirstCall/ -- Immtech Pharmaceuticals, Inc. (Amex: IMM) announced today that Eric L. Sorkin, the Company's Chairman and Chief Executive Officer, and Cecilia Chan, Vice Chairman of Immtech, have volunteered to reduce their annual salary during fiscal year 2008.

Eric L. Sorkin, Immtech's Chairman and Chief Executive Officer stated, "We are advancing Immtech's new business plans and other global health related projects as well as furthering our new drug discovery programs. We are utilizing our core strengths, including our extensive experience in China, to achieve Immtech's successes in this year and the years to come."

The Company filed Form 8K with the United States Securities and Exchange Commission with updated information on the Company's operations. As detailed in the 8K, due to recognition of deferred revenue, the Company's stockholders' equity exceeds $6.0 million and the Company expects that it will continue to exceed that amount as of March 31, 2008.

About Immtech Pharmaceuticals, Inc.

Immtech is a pharmaceutical company focused on the development and commercialization of new drugs to treat infectious diseases. Immtech has a well defined, expanding library of compounds targeting Hepatitis C, drug- resistant Gram-positive bacteria, fungal infections and other serious diseases. It is expanding its targeted markets by applying its proprietary pharmaceutical platform to treat a range of disorders. Immtech holds exclusive worldwide licenses to certain patents, patent applications and technology for products derived from its proprietary pharmaceutical platform. For additional information, please visit the Company's website at ht
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SOURCE Immtech Pharmaceuticals, Inc.
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