Alfacell Corporation to Present at IBC Life Sciences' Antibody Engineering Conference.

Company to Discuss Novel Targeted Therapeutics from its RNase Technology Platform

BLOOMFIELD, N.J. -- Alfacell Corporation (NASDAQ: ACEL), a biopharmaceutical company focused on the discovery, development and commercialization of novel ribonuclease (RNase) therapeutics for cancer and other life-threatening diseases, today announced that Dr. Susanna Rybak, a member of Alfacell's Scientific Advisory Board, is an invited speaker at IBC Life Sciences' 17th Annual Conference on Antibody Engineering and Immunotherapeutics for the 21st Century, to be held December 10-14, 2006 in San Diego, CA.

Dr. Rybak's presentation, entitled "RNase-based Targeted Therapeutics," will feature research conducted at the National Cancer Institute and Alfacell involving the Company's lead investigational drug candidate, ONCONASE([R]) (ranpirnase), and, specifically, the creation of an anti-CD22 antibody-ONCONASE molecule that very effectively kills human non-Hodgkin's lymphoma cells. Highlights of work from another Alfacell research collaborator, Dr. Juergen Krauss from the University of Duisburg-Essen, will also be presented. Dr. Krauss's work involves the creation of novel immunomodular forms suitable for specifically targeting ONCONASE to tumors. Dr. Krauss and Alfacell are collaborating to build a portfolio of antibody-ONCONASE targeted immunotherapeutics.

For more information about the conference, visit www.ibclifesciences.com/antibodyeng.

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.