Chief Financial Officer Resigns.

BLOOMFIELD, N.J.--(BUSINESS WIRE)--July 9, 1999--

Alfacell Corporation (OTCBB: ACEL) announced today the resignation of Gail Fraser, the Company's Chief Financial Officer. Ms. Fraser has also resigned from the Company's Board of Directors. Ms. Fraser indicated that she will pursue other business opportunities. Strategic and daily business operations will remain the responsibility of Kuslima Shogen, Alfacell's Chairman and Chief Executive Officer. KPMG LLP (Peat Marwick) will continue in its capacity as external auditors for the Company and will interact directly with Ms. Shogen and the Company`s Audit Committee of the Board of Directors. The Sage Group will continue to handle business development activities for the Company.

"The Company remains focused on obtaining FDA approval for ONCONASE(R). We believe that our funds on hand will be sufficient to complete the statistical analysis of the Phase III malignant mesothelioma trial and support other research activities directed at obtaining strategic alliances", stated Kuslima Shogen.

ALFACELL Corporation is a leader in the development of ribonucleases (RNases) for therapeutic applications. ONCONASE, an anti-tumor agent is currently being investigated in Phase III clinical trials in patients with malignant mesothelioma. Alfacell is located in Bloomfield, New Jersey, and the Company's common stock is traded in the over-the-counter market under the symbol "ACEL".