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CYTRX CORPORATION ANNOUNCES PURCHASE OF FACILITIES

 ATLANTA, Sept. 30 /PRNewswire/ -- CytRx Corporation (NASDAQ-NMS: CYTR) today announced the acquisition of the company's formerly leased headquarters as well as a second building to address the needs of expanding pharmaceutical development programs.
 The acquisitions will provide facilities for additional laboratories and associated staffing to meet growing preclinical and clinical research objectives.
 "These acquisitions provide CytRx with an opportunity to leverage our current laboratory and GMP pilot manufacturing facilities," commented Jack J. Luchese, CytRx president and chief executive officer. "We will be converting the office space in our current headquarters building into additional copolymer synthesis laboratories and will be adding dedicated analytical, formulations, and microbiology research laboratories as well. This will significantly reduce CytRx's dependence on outside facilities resulting in time and cost savings."
 Headquarters, clinical management and support personnel will be relocated to the first floor of a second facility which is immediately adjacent to the research and development center. The second floor is currently leased which will provide revenues to offset operating costs and space for future expansion needs.
 Luchese continued: "These acquisitions cap a lengthy evaluation into the best way to address CytRx's facility requirements to support expanded preclinical and clinical research programs. I believe we have found an ideal solution that cost effectively meets our growing research and development activities while building upon the investment we have already made in laboratories and pilot plant facilities. As a result, I expect we will invest about half of what it would have cost to build more conventional new construction facilities to meet our needs."
 CytRx Corporation is engaged in the research and development of critical care pharmaceutical products for the treatment of vascular and infectious diseases, burns and cancer. Vaxcel(TM) a CytRx subsidiary, is developing an advanced adjuvant system for human and veterinary use. CytRx's Vetlife(TM) subsidiary is developing feed additives to enhance growth in feed animals.
 -0- 9/30/93
 /CONTACT: CytRx Corporation public relations, 404-368-9500/
 (CYTR)


CO: CytRx Corporation ST: Georgia IN: MTC SU:

BR-CF -- AT009 -- 7381 09/30/93 14:34 EDT
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Publication:PR Newswire
Date:Sep 30, 1993
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