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Palatin Technologies and King Pharmaceuticals Announce Plan To,Present Results of Bremelanotide Phase 2b Studies in Men With,Erectile Dysfunction

year ended December 31, 2006 and Palatin's Form 10-K for the year ended June 30, 2006 and Form 10-Q for the quarters ended September 30, 2006 and December 31, 2006, which are on file with the U.S. Securities and Exchange Commission. The companies do not undertake to publicly update or revise any of their forward- looking statements even if experience or future changes show that the indicated results or events will not be realized.

King Pharmaceuticals, Inc.

CONTACT: Stephen T. Wills, CPA, MST, EVP-Operations - Chief FinancialOfficer of Palatin Technologies, Inc., +1-609-495-2200, ,or James E. Green (for all King inquiries), Executive Vice President,Corporate Affairs of King Pharmaceuticals, +1-423-989-8125; or for PalatinInstitutional Investors and Media, Carney Noensie of Burns McClellan,+1-212-213-0006, info@palatin.com cnoensie@burnsmc.com

Web site: http://www.palatin.com//

Ticker Symbol: (AMEX:PTN),(NYSE:KG)

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