Aphton To Present at Harris Nesbitt Gerard Healthcare Conference.

Business Editors

MIAMI--(BUSINESS WIRE)--Dec. 11, 2003

Today Aphton Corporation (Nasdaq:APHT) announced that it will present at the Harris Nesbitt Gerard Healthcare Conference being held at the Waldorf-Astoria in New York City December 11, 2003.

Patrick Mooney, M.D., Aphton's Chief Medical Officer, will discuss the company's science and technology, products, clinical trials programs and regulatory strategy on December 11, 2003 at 1:00pm EST.

The presentation will simultaneously be broadcast on the Aphton website at www.aphton.com. A live audio webcast will begin at 1:00pm and will be archived through December 13, 2003.

Aphton Corporation is a biopharmaceutical company engaged in the research and development of products for cancer and non-cancer diseases. Aphton applies its innovative "active immunization" (vaccine) technology-platform to develop products for neutralizing, and removing from circulation, hormones and other molecules that participate in gastrointestinal system and reproductive system cancer and non-cancer diseases. Aphton is currently in late-stage clinical trials with its lead product G17DT, in Phase III trials for pancreatic cancer and a Phase II trial in gastric cancer. Aphton has announced positive Phase III trial interim results from one of the Phase III trials in pancreatic cancer and positive Phase II trial interim results in gastric cancer. Aphton has strategic alliances with Aventis Pasteur, for products that treat gastrointestinal system and other cancers with G17DT, in North America and Europe and with GlaxoSmithKline for products that treat reproductive system cancers and non-cancer diseases, worldwide.

This news release includes forward looking statements, including statements regarding Aphton's expectations regarding the final results of current clinical trials and the ability of such clinical trials to support registration of its products and marketing approval. These forward-looking statements may be affected by the risks and uncertainties inherent in the drug development process and in the Company's business. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in Aphton's Securities and Exchange Commission filings, including Aphton's report on Form 10-K filed with the Commission on March 31, 2003. Aphton wishes to caution readers that certain important factors may have affected and could in the future affect Aphton's beliefs and expectations and could cause the actual results to differ materially from those expressed in any forward- looking statement made by or on behalf of Aphton. These risk factors include, but are not limited to, (1) the final results of current trials, (2) Aphton's ability to enforce its patents and proprietary rights, and (3) Aphton's ability to obtain sufficient financing to fund the trials through completion. Aphton undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.