Albany Molecular Research, Inc. Dedicates New Syracuse Research Facility.

Business Editors

NORTH SYRACUSE, N.Y.--(BUSINESS WIRE)--June 13, 2002

Albany Molecular Research, Inc. (Nasdaq: AMRI) today publicly unveiled and dedicated its new 28,000 square foot Syracuse Research Center, a state-of-the-art pharmaceutical research and development facility.

Scientists at the facility conduct small-scale custom chemical synthesis to support early stage drug discovery and larger, kilogram-scale chemical development to produce drug candidates and intermediates for use in preclinical or clinical studies. Much of the work at the facility is in the area of process research, where scientists try to improve on an existing process for making a compound with potential pharmaceutical applications. Process research can involve finding new or safer ways to make an existing compound, making the process less costly, or reducing hazardous waste. Typical customers of the Syracuse Research Center include biotechnology and pharmaceutical companies.

The Center employs 43 individuals, including 32 research scientists. That number is expected to rise to approximately 65 employees, as AMRI intends to hire an additional 22 employees at the Syracuse facility in the next few years. Since 2001, AMRI has added 19 new employees in the Syracuse area--many of whom have come from central New York area schools such as SUNY College of Environmental Sciences and Forestry, Onondaga Community College, SUNY Oswego, Cornell University and Ithaca College. Company wide, AMRI has grown from 18 employees in 1995 to over 530 today in four major geographic areas--Albany, NY; Syracuse, NY; Mount Prospect, IL; and Bothell, WA.

"We are honored to be here today to dedicate and open our newest research facility to the public," said Albany Molecular Research, Inc. Chairman and Chief Executive Officer Thomas E. D'Ambra, Ph.D. "Our new Syracuse Research Center is an impressive facility equipped with the latest equipment and staffed by a group of dedicated and skilled employees. We are proud to be a part of the Syracuse community and to contribute to economic growth by creating highly skilled jobs."

"I am pleased to help dedicate Albany Molecular Research's new Syracuse facility, and to celebrate the company's growth. AMRI is creating new high-tech jobs in upstate New York and making a vital contribution to our economy," said New York State Lieutenant Governor Mary O. Donohue, who formally dedicated the Syracuse Research Center by starting a representative experiment.

AMRI purchased and renovated a building formerly owned by Wheatstone Corp. A low interest loan in the amount of $5.7 million issued by the Onondaga County Industrial Development Agency helped AMRI finance the construction. Because the facility is located in an Economic Development Zone, AMRI is eligible to receive tax credits and incentives over the next ten years.

"This growth has been made possible by the hard work of all of the staff here at the Syracuse Research Center," said J. Gregory Reid, Ph.D., senior director at the Center. "We have assembled a remarkable team, and we have received outstanding support from our colleagues in Albany."

Dr. Reid noted that in addition to the substantial investment in construction, equipment and property acquisition, AMRI's Syracuse Research Center spends an estimated $500,000 in the central New York economy each year through vendor and contractor relationships--not including monies spent on construction and capital expenditures.

Albany Molecular Research, Inc. is a leading chemistry research, drug discovery and development company focusing on applications for the life sciences industries. The company performs comprehensive research for many of the leading pharmaceutical and biotechnology companies and for its own internal research and development.

Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements may be identified by forward-looking words such as "may," "could," "should," "would," "will," "intend," "expect," "anticipate," "believe" and "continue" or similar words. Readers should not place undue reliance on our forward-looking statements. The company's actual results may differ materially from such forward-looking statements as a result of numerous factors, some of which the company may not be able to predict and may not be within the company's control. Factors that could cause such differences include, but are not limited to (a) the company's ability to attract and retain experienced scientists, including its ability to hire new employees in Syracuse, (b) trends in pharmaceutical and biotechnology companies outsourcing chemical research and development, (c) the company's ability to take advantage of proprietary technology and expand the scientific tools available to it, and (d) the company's ability to integrate operations at its Syracuse Research Center, as well as those factors discussed in the company's Annual Report on Form 10-K for the year ended December 31, 2001 as filed with the Securities and Exchange Commission on April 1, 2002 and the company's other SEC filings. The company does not undertake any duty to and does not intend to update any forward-looking statements contained in this press release after the date of this press release.