Elite Pharmaceuticals and ECR Launch Second Once-Daily Antihistamine.

LODRANE 24D([R]), Second Product Utilizing Elite's Drug Delivery Technology

NORTHVALE, N.J. -- Elite Pharmaceutical, Inc.'s (AMEX: ELI) marketing partner, ECR Pharmaceuticals, has launched Elite's second once-a-day allergy product, under ECR's brand LODRANE 24D, an extended release formulation of brompheniramine maleate and pseudoephedrine HCl.

Lodrane 24D utilizes Elite's proprietary extended release technology to provide once-daily dosing of an effective, low-sedating antihistamine combined with a decongestant. The once-a-day formulation is designed to enhance patient convenience and compliance for those who require chronic allergy therapy. This product and ECR's previously marketed Lodrane 24[R], a once-daily antihistamine-only formulation, were both developed by Elite.

Lodrane 24D will be promoted to healthcare providers in the U.S. by ECR Pharmaceuticals field sales representatives and will be available by prescription through pharmacies. Elite Pharmaceuticals will manufacture the product and will receive a royalty on product revenues. The current U.S. allergy market exceeds $3 billion.

"We are pleased to have worked with Elite Pharmaceuticals to develop products which utilize the firm's extended release drug delivery technology. Lodrane 24 and 24D offer patients therapeutic alternatives, which can better meet their daily needs. Our partnership with Elite has allowed us to provide physicians and patients with products which offer these expanded choices," said E. Claiborne Robins, Jr., President and CEO of ECR Pharmaceuticals.

"This product is another example of how our proprietary extended release technology can be utilized by our partners. Launching Lodrane 24D, the second product we have commercialized with ECR Pharmaceuticals, is another significant milestone validating our drug delivery capabilities," said Bernard Berk, President and CEO of Elite. "We look forward to continuing to build and leverage Elite's proprietary technologies through our product pipeline, partnerships and ventures as we continue to systematically meet the milestones we have set for ourselves."

ECR Pharmaceuticals is a privately held firm based in Richmond, Virginia.

About Elite Pharmaceuticals

Elite Pharmaceuticals is a specialty pharmaceutical company principally engaged in the development and manufacturing of oral controlled-release products. The Company's strategy includes developing generic versions of controlled release drug products with high barriers to entry and assisting partner companies in the life cycle management of products to improve off-patent drug products. Elite's technology is applicable to develop delayed, sustained or targeted release capsules or tablets. Elite has one product currently being sold commercially and a pipeline of eight other drug products under development in the therapeutic areas that include pain management, allergy, cardiovascular and infection. The addressable market for Elite's current pipeline of generic and branded drug products exceeds $6 billion. Elite also has a GMP and DEA registered facility for research, development, and manufacturing located in Northvale, NJ.

This news release contains forward-looking statements, including those related to the preliminary nature of the clinical program results and the potential for further product development, that involve known and unknown risks, delays, uncertainties and other factors not under the control of Elite, which may cause actual results, performance or achievements of the companies to be materially different from the results, performance or other expectations implied by these forward-looking statements. In particular, because substantial future testing will be required prior to approval, the results described above may not be supported by additional data or by the results of subsequent trials. These risks and other factors, including the timing or results of pending and future clinical trials, regulatory reviews and approvals by the Food and Drug Administration and other regulatory authorities, and intellectual property protections and defenses, are discussed in the Elite's filings with the Securities and Exchange Commission such as the 10K, 10Q and 8K reports. The Company undertakes no obligation to update any forward-looking statements.