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Transition Therapeutics Announces First Quarter Fiscal 2009 Financial Results
Date:11/10/2008

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Net increase in cash and cash

equivalents during the period 3,932,641 19,889,447

Cash and cash equivalents, beginning of period 22,952,865 1,377,387

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Cash and cash equivalents, end of period 26,885,506 21,266,834

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Notice to Readers: Information contained in our press releases should be considered accurate only as of the date of the release and may be superseded by more recent information we have disclosed in later press releases, filings with the OSC, SEC or otherwise. Except for historical information, this press release may contain forward-looking statements, relating to expectations, plans or prospects for Transition, including conducting clinical trials. These statements are based upon the current expectations and beliefs of Transition's management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include factors beyond Transition's control and the risk factors and other cautionary statements discussed in Transition's quarterly and annual filings with the Canadian commissions.


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