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The Quigley Corporation Announces Update on Strategic Alternatives and Commitment to Additional Review of Current Cost Structure
Date:5/18/2009

continue to implement our long-term strategic plan and work to realize the potential of Pharma's QR-333 compound to treat Diabetic Peripheral Neuropathy and other formulations currently under development by the Company's Pharma division, management and our Board of Directors have determined that we should examine all potential means for maximizing value for our stockholders. Due to the current broad economic decline in the overall HBC category (Health and Beauty Care) marketplace, in both dollar and unit sales, a segment of the market into which cold remedies such as COLD-EEZE falls, we foresee no sign of immediate improvement. Therefore, we are taking the additional steps announced today to more closely align our operating costs with the current decreased level of demand for the Company OTC products."

The Company cautions that there can be no assurance that the exploration of strategic alternatives will result in any specific transaction. The Company does not expect to disclose further developments regarding the process until the completion of the strategic alternatives review and a decision by the Board of Directors regarding a transaction or course of action.

About The Quigley Corporation

The Quigley Corporation (Nasdaq: QGLY, http://www.Quigleyco.com) is a diversified natural health medical science company. Its Cold Remedy segment is a leading marketer and manufacturer of the COLD-EEZE(R) family of lozenges, gums and sugar free tablets clinically proven to cut the common cold nearly in half. COLD-EEZE customers include leading national wholesalers and distributors, as well as independent and chain food, drug and mass merchandise stores and pharmacies. The Quigley Corporation has several whol
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