Albany Molecular Research, Inc. Renews Relationship with Eli Lilly and Company.

ALBANY, N.Y. -- Albany Molecular Research, Inc. (Nasdaq: AMRI) announced today a new drug discovery research agreement with Eli Lilly and Company (NYSE: LLY), continuing an ongoing relationship between the two companies that began in 1998.

Under the terms of the agreement, AMRI will provide fee-for-service chemistry research on projects in strategic therapeutic areas identified by Lilly. Though specific financial details were not disclosed, the contract includes fee-for-service provisions and is a continuation of a recently expired agreement.

"We are delighted to continue our longstanding relationship with Lilly, one of the world's leading pharmaceutical research and development organizations," said AMRI Chairman, President and Chief Executive Officer Thomas E. D'Ambra, Ph.D. "We believe that Lilly's decision to continue this significant relationship with AMRI reflects the value that AMRI's scientists have been able to bring to the collaboration."

Albany Molecular Research, Inc. is a leading research, drug discovery, development and manufacturing company built on a chemistry platform of comprehensive and integrated technologies, resources and capabilities. The company conducts research and development with many leading pharmaceutical and biotechnology companies and for its own internal discovery programs, and provides cGMP manufacturing of active pharmaceutical ingredients through its wholly owned subsidiary, Organichem Corporation. For more information, please visit www.albmolecular.com.

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, (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, (d) the company's ability to expand and integrate its drug discovery and development technologies, (e) the company's performance under the contract, (f) Lilly's continuous utilization of the company's services at levels set forth in the contract and (g) Lilly's continued pursuit of programs under which the company provides services as well as those factors discussed in the company's Annual Report on Form 10-K for the year ended December 31, 2003 as filed with the Securities and Exchange Commission on March 15, 2004, as amended by the Form 10-K/A filed on November 8, 2004, 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.