Neuro-Hitech Pharmaceuticals, Inc. Begins Trading under Symbol ''NHPI''; Private Placement of $4.35 Million Coincides with Reverse Merger.

NEW YORK -- Neuro-Hitech Pharmaceuticals, Inc., a drug development company engaged in the development and commercialization of Huperzine A (HupA) for a variety of degenerative neurological disorders, today announced its stock will begin trading under the symbol OTC BB: NHPI today, February 2, 2006.

Neuro-Hitech completed a reverse merger with Northern Way Resources, Inc. The Company also sold 1,740,000 shares of common stock and warrants to purchase 435,000 shares of common stock exercisable at $5.00 per share for a purchase price of $25,000 per unit, each unit consisting of 10,000 shares and warrants for 2,500 shares. In exchange for the units, the Company received cash proceeds of $4.35 million.

Reuben Seltzer is the President and CEO of Neuro-Hitech as well as founding shareholder, and Alan Kestenbaum is Executive Vice President and a founding shareholder of Neuro-Hitech.

Through a collaboration with the Alzheimer's Disease Cooperative Study, the National Institutes of Health (NIH), and Georgetown University Medical Center, Neuro-Hitech has completed Phase I studies and is currently conducting a Phase II clinical trial for HupA, a cholinesterase inhibitor that may be effective in the treatment of Alzheimer's Disease. The company also believes that it may, in future, test the effectiveness of HupA in the treatment of Mild Cognitive Impairment.

Seltzer said, "We are excited by these events which we believe will give us the resources to complete our Phase II study and further our product development programs."

About Neuro-Hitech Pharmaceuticals, Inc.

Neuro-Hitech Pharmaceuticals, Inc., is a drug development company engaged in the development and commercialization of Huperzine A (HupA) for a variety of degenerative neurological disorders. Huperzine A is a plant alkaloid derived from the Chinese club moss plant.

This release contains forward-looking statements which involve known and unknown risks, delays, uncertainties and other factors not under the Company's control, which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include results of current or pending research and development activities, actions by the FDA and other regulatory authorities, and those factors detailed in the Company's filings with the Securities and Exchange Commission such as 10K, 10Q and 8K reports.