ADVR Receives Fourth Installment of Funding.

YONKERS, N.Y. -- Advanced Viral Research Corp. (OTC Bulletin Board: ADVR) announced today that it received the fourth installment of $3 million from James Dicke II and his son, James Dicke III.

As announced, on February 3, 2004, ADVR entered into an agreement with the Dickes whereby ADVR agreed to sell an aggregate of 120,000,000 shares of ADVR common stock and warrants to purchase 15,000,000 shares at $0.20 per share, in four equal installments of 30,000,000 shares in exchange for the Dickes delivering an aggregate of $3 million to ADVR at each of the closings.

The first closing took place on February 5th, 2004; the second closing took place on May 5th, 2004; and the third installment was made on August 4th 2004. On November 3rd ADVR received the fourth installment to complete the agreement made with the Dickes.

ADVR's AVR118 is a biopolymer that possesses novel immunomodulator activity. To date this peptide-nucleic acid complex has demonstrated a very favorable safety profile. It appears to stimulate the pro-inflammatory responses required to combat viral infections such as AIDS and human papillomavirus, and to dampen aberrant autoimmune-type inflammatory responses, such as occur in patients with rheumatoid arthritis. Data presented at the American Society of Clinical Oncology (ASCO) annual meeting in June, 2004, showed that AVR118 appears to have activity against fatigue, loss of appetite, and weight loss in patients with HIV.

For further information regarding Advanced Viral Research Corp., please visit our website at www.adviral.com. ADVR, based in Yonkers, New York, is a biopharmaceutical firm dedicated to improving patients' lives by researching, developing and bringing to market new and effective therapies for viral and other diseases.

Note: This news release contains forward-looking statements that involve risks associated with clinical development, regulatory approvals, including application to the FDA, product commercialization and other risks described from time to time in the SEC reports filed by the Company. AVR118 (Product R) is not approved by the U.S. Food and Drug Administration or any comparable agencies of any other countries. There is no assurance that the Company will be able to secure the financing necessary to continue and/or complete the clinical trials of AVR118 or satisfy certain other conditions relating to clinical trials, including obtaining adequate insurance on terms acceptable to the Company, or that, if completed, clinical trials performed outside the United States will assist the Company in obtaining FDA or other regulatory approval. The Company undertakes no obligation to update or revise the information contained in this announcement whether as a result of new information, future events or circumstances, or otherwise.