Alfacell Corporation Announces Company Succession Plan.

BLOOMFIELD, N.J. -- Alfacell Corporation (Nasdaq: ACEL) today announced that its Board of Directors has formed a search committee to recruit a President and Chief Operating Officer, a newly-created position at the company. The committee is chaired by David Sidransky, M.D., Chairman of the Scientific Advisory Board, and includes Kuslima Shogen, Chairman and CEO, and James Loughlin, C.P.A., Chairman of the Audit Committee.

As the validation of Alfacell's RNase technology continues to move forward, the commercial operations must also move on a parallel track in order to achieve a successful transition to a competitive commercial entity. The committee feels that the addition of a President and COO will help assure such success.

The new President and COO will oversee the day-to-day operations of the company and its transition to a commercial enterprise in anticipation of the expected filing of a New Drug Application (NDA) with the FDA for Alfacell's flagship product, ONCONASE([R])(ranpirnase). Dr. Shogen will continue as CEO, and will focus on the continued development of ONCONASE and Alfacell's other novel ribonuclease product candidates, including those from its cadre of amphinases, for other indications, as well as advancing the company's promising research in the microRNA, siRNA, and RNAi areas.

The new President and COO also will likely succeed to the CEO position after the marketing approval of ONCONASE and upon recommendation by the Board of Directors.

"Since our gateway indication of malignant mesothelioma for ONCONASE is on the cusp of final completion and our RNase technology platform continues to receive significant recognition from the scientific, medical and business communities, the timing is now right to add an experienced senior individual to move Alfacell to a fully-integrated commercial entity. This will facilitate the continued development of our technology platform and optimize shareholder value," stated Dr. Shogen.

About ONCONASE([R])

ONCONASE is a first-in-class therapeutic from Alfacell's proprietary ribonuclease (RNase) technology platform. ONCONASE has been shown in vitro and in vivo to target tumor cells while sparing normal cells. ONCONASE is internalized by endocytosis and released into the cytosol of the cancerous cell, where it selectively degrades tRNA beyond repair. In doing so, ONCONASE inhibits protein synthesis, stops cell cycle proliferation, and induces apoptosis (programmed cell death).

ONCONASE has previously been granted Orphan Drug designation from EMEA and TGA (Australia), as well as Fast Track status by the FDA. In addition to the ongoing confirmatory Phase IIIb registration study in malignant mesothelioma, the company is also conducting an ONCONASE Phase I / II trial in Non-Small Cell Lung Cancer (NSCLC).

About Alfacell Corporation

Alfacell Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for cancer and other life-threatening diseases, using its proprietary ribonuclease (RNase) technology platform. For more information, please visit http://www.alfacell.com.

Safe Harbor

This press release includes statements that may constitute "forward- looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, uncertainties involved in transitioning from concept to product, uncertainties involving the ability of the Company to finance research and development activities, potential challenges to or violations of patents, uncertainties regarding the outcome of clinical trials, the Company's ability to secure necessary approvals from regulatory agencies, dependence upon third-party vendors, and other risks discussed in the Company's periodic filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.