Cortex to Host Conference Call to Discuss the Progress of AMPAKINE CX717 from the Most Recent Phase IIa Study; Call Scheduled for Monday, June 13, 2005 at 1:00 P.M. -EDT-.

IRVINE, Calif. -- Cortex Pharmaceuticals, Inc. (AMEX: COR) has scheduled a conference call to discuss the encouraging results from the recently completed AMPAKINE(R) CX717 Phase IIa study. The study was performed in the United Kingdom at the Academic Clinic for Disorders of Sleep and Wakefulness within the Human Psychopharmacology Research Unit at the Medical Research Centre, School of Biomedical and Molecular Sciences, University of Surrey by Dr. Julia Boyle, Acting Director of the Research Unit and Professor Anthony N. Nicholson, Medical Director and Visiting Professor of Aviation Medicine, King's College London Additionally, other results from on going work with AMPAKINE drugs as well as plans for future studies with CX717 will be highlighted. The call is scheduled to commence on Monday, June 13, 2005 at 1:00 P.M. EDT.

Participants are asked to call the following numbers 5-10 minutes prior to the starting time:

--From the U.S. and Canada: 1-800-289-0544

--International: 913-981-5533

A replay will be available for 45 days after the call by dialing 1-888-203-1112 (US and Canada) or 719-457-0820 (International) and entering access code 5858340 when prompted.

A live webcast of the presentation can be accessed by logging onto https://cis.premconf.com/sc/scw.dll/usr?cid=vlllrswnwwsvwrznm and a replay will be available for 30 days following the call.

For more information, call: Damian McIntosh or Dian Griesel, Ph.D. at The Investor Relations Group, Inc. Phone: [phone].

About Cortex Pharmaceuticals:

Cortex, located in Irvine, California, is a neuroscience company focused on novel drug therapies for neurological and psychiatric disorders. The Company is pioneering a class of proprietary pharmaceuticals called AMPAKINE compounds, which act to increase the strength of signals at connections between brain cells. The loss of these connections is thought to be responsible for memory and behavior problems in Alzheimer's disease. Many psychiatric diseases, including schizophrenia, occur as a result of imbalances in the brain's neurotransmitter system. These imbalances may be improved by using the AMPAKINE technology. Cortex has alliances with N.V. Organon for the treatment of schizophrenia and depression and with Les Laboratoires Servier for the development of AMPAKINE compounds to treat the neurodegenerative effects associated with aging and disease, including Mild Cognitive Impairment, Alzheimer's disease and Anxiety Disorders. (http://www.cortexpharm.com/) Forward-Looking Statement

Note - This press release contains forward-looking statements concerning the Company's research and development activities. The success of such activities depends on a number of factors, including the risks that the Company's proposed products may at any time be found to be unsafe or ineffective for any or all of their proposed indications; that competitors may challenge or design around the Company's patents or develop competing technologies; and that clinical studies may at any point be suspended or take substantially longer than anticipated to complete. As discussed in the Company's Securities and Exchange Commission filings, the Company's proposed products will require additional research, lengthy and costly clinical testing and regulatory approval. AMPAKINE compounds are investigational drugs and have not been approved for the treatment of any disease.