ADVISORY/NeoPharm Announces New LE-SN38 Data to Be Released at the American Society of Clinical Oncology -ASCO- Annual Meeting.

Business Editors/Health/Medical Writers

ADVISORY...for Saturday (June 5)

BIOWIRE2K

--(BUSINESS WIRE)

Who/What: NeoPharm, Inc. (Nasdaq/NM:NEOL) LE-SN38 oral presentation in
          an Integrated Educational Session at the ASCO meeting

Why:      New Phase I data will be presented on LE-SN38, NeoPharm's
          NeoLipid formulation of SN-38, the active metabolite of
          Irinotecan

Where:    ASCO 40th Annual Meeting
          Morial Convention Center, New Orleans, Louisiana

When:     Saturday, June 5, 2004
          --  Integrated Education Session - Biomarkers for Monitoring
              Drug Effect (IES07):  7:45 a.m. - 9:15 a.m.
                --  Abstract #2501 - Pharmacogenomic and
                    Pharmacokinetic Assessment of Liposome
                    Encapsulated SN-38 (LE-SN38) in Advanced Cancer
                    Patients
                --  Presenter - Eric H. Kraut MD,
                    Professor of Medicine,
                    Director, Benign Hematology,
                    Division of Hematology-Oncology,
                    Department of Internal Medicine,
                    The Ohio State University

For more information or to arrange a briefing, please contact Yvette Venable at 312-397-3736, prior to ASCO, or on-site at 312-952-0224.

About NeoPharm, Inc.

NeoPharm, Inc., based in Lake Forest, Illinois, is a publicly traded biopharmaceutical company dedicated to the research, development and commercialization of new and innovative cancer drugs for therapeutic applications. The Company has a portfolio of cancer compounds in various stages of development. Additional information can be obtained by visiting NeoPharm's Website at: www.neophrm.com.

Forward Looking Statements - This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Company has tried to identify such forward-looking statements by use of such words as "expects," "intends," "hopes," "anticipates," "believes," "could," "may," "evidences" and "estimates," and other similar expressions, but these words are not the exclusive means of identifying such statements. Such statements include, but are not limited to, any statements relating to the Company's drug development program, including, but not limited to the initiation, progress and outcomes of clinical trials involving the Company's drug product candidates, including LE-SN38, and any other statements that are not historical facts. Such statements involve risks and uncertainties, including, but not limited to, those risks and uncertainties relating to difficulties or delays in development, testing, regulatory approval, production and marketing of the Company's drug and non-drug compounds, including, but not limited to, LE-SN38, uncertainty regarding the availability of third party production capacity, unexpected adverse side effects or inadequate therapeutic efficacy of the Company's drug and non-drug compounds, including, but not limited to, LE-SN38, that could slow or prevent products coming to market, uncertainty regarding the Company's ability to market its drug and non-drug products directly or through independent distributors, the uncertainty of patent protection for the Company's intellectual property or trade secrets, including, but not limited to, LE-SN38, and other risks detailed from time to time in filings the Company makes with the Securities and Exchange Commission including its annual reports on Form 10-K and quarterly reports on Forms 10-Q. Such statements are based on management's current expectations, but actual results may differ materially due to various factors, including those risks and uncertainties mentioned or referred to in this press release. Accordingly, you should not rely on these forward-looking statements as a prediction of actual future results.