Alseres Pharmaceuticals Enters Agreement to Amend Cethrin(R) License to Lower Milestone Payments and Roy...(ogies and the breadth of theCompany's te...),Health

Date:5/6/2008

ogies and the breadth of the Company's technologies and intellectual property portfolio. Forward-looking statements can be identified by terminology such as "anticipate," "believe," "could," "could increase the likelihood," "estimate," "expect," "intend," "is planned," "may," "should," "will," "will enable," "would be expected," "look forward," "may provide," "would" or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including those risks, uncertainties and factors referred to in the Company's Annual Report on Form 10-K for the year ended December 31, 2007 filed with the Securities and Exchange Commission under the section "Risk Factors," as well as other documents that may be filed by Alseres from time to time with the Securities and Exchange Commission. As a result of such risks, uncertainties and factors, the Company's actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. Alseres is providing the information in this press release as of this date and assumes no obligations to update the information in this press release.

Alseres is a trademark and Cethrin and Altropane are registered trademarks of Alseres Pharmaceuticals, Inc.

Contact:

Sharon Correia - 508-497-2360 ext. 224

Alseres Pharmaceuticals, Inc.

scorreia@alseres.com

Adam Friedman - 212-981-2529 ext 18

Adam Friedman Associates

adam@adam-friedman.com

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SOURCE Alseres Pharmaceuticals, Inc. Copyright©2008 PR Newswire. All rights reserved

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