Celsion Corporation Announces Results of Annual Shareholder Meeting; AMEX Makes Presentation At Meeting.

Business Editors

COLUMBIA, Md.--(BUSINESS WIRE)--June 5, 2000

Celsion Corporation (AMEX:CLN) reported today that each of the proposals submitted to its shareholders at the June 1, 2000 Annual Meeting was approved. These proposals included: the re-election of Celsion's Board of Directors, the confirmation of Stegman and Co. as the Company's public accountants, and the change of the Company's state of incorporation to Delaware, among others.

Spencer Volk, President and Chief Executive Officer of Celsion, presented a summary of the Company's significant financial and business progress. He also outlined Celsion's products, alliances, and business development plans.

In his address, Mr. Volk noted that the Company's cash position increased from $100,000 in December 1998 to $9.3 million in March 2000. Also, its share price increased from $0.28 to $4.00, while its market capitalization increased from $9.5 million on 44 million shares outstanding to $248 million on 62 million shares outstanding during the same period. R&D spending increased by 10% and G&A spending declined by 24%.

Celsion's shares began trading on the American Stock Exchange on May 31, 2000. At the Annual Meeting, Mr. Perry Peregoy, Senior Vice President of AMEX, presented to Celsion's shareholders the benefits and opportunities offered with listing on AMEX as compared to listing on the OTC Bulletin Board and the NASDAQ SmallCap market.

During the shareholder's meeting, Dr. Arnold Melman, Principal Investigator for Celsion's Benign Prostatic Hyperplasia (BPH) Treatment System and Dr. Robert Gardner, the Principal Investigator for Celsion's Breast Cancer Treatment System, presented preliminary information on the progress of these Phase I studies. Phase I clinical studies are designed to demonstrate feasibility and safety for human use.

About Celsion: Celsion Corporation is a research and development company dedicated to commercializing medical treatment systems for cancer and other diseases using focused heat technology delivered by patented microwave technology. Celsion has research, license or commercialization agreements with leading institutions such as Duke University Medical Center, Massachusetts Institute of Technology, Harbor UCLA Medical Center, the University of California at San Francisco, Montefiore Medical Center, Memorial Sloan Kettering Cancer Center in New York and Duke University.

Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, unforeseen changes in the course of research and development activities and in clinical trials; possible changes in cost and timing of development and testing, capital structure, and other financial items; changes in approaches to medical treatment; introduction of new products by others; possible acquisitions of other technologies, assets or businesses; possible actions by customers, suppliers, competitors, regulatory authorities; and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.