Samaritan Positioned As 'Force' in the Treatment of Alzheimer's by CEO Greeson at Annual Meeting of Shareholders

		SAMARITAN PHARMACEUTICALS CORPORATE LOGO Samaritan Pharmaceuticals, in collaboration with Georgetown University, develops and strives to commercialize scientific breakthrough innovations for: Alzheimer's (AD) Drugs, to inhibit glucocorticoid-mediated neurotoxicity, an Animal Model to test AD drugs, an AD Diagnostic; a Breast Cancer Diagnostic; a peptide to bind Cholesterol and a late stage Phase II statistically significant HIV drug. Samaritan's patented pipeline is built on a, cholesterol-metabolism and glucocorticoid-biosynthesis, technology platform which is scientifically considered to be a successful therapeutic approach. (PRNewsFoto)[AS] LAS VEGAS, NV USA

LAS VEGAS, July 2 /PRNewswire-FirstCall/ -- Samaritan Pharmaceuticals Inc. (OTC Bulletin Board: SPHC) and Samaritan Research Labs, Georgetown University, announced today it has completed licensing of several new discoveries for Alzheimer's, under its Georgetown University collaboration with Samaritan Labs. Samaritan is well-positioned to become a "force" in the treatment of Alzheimer's with breakthrough compounds that could change the way patients are treated today, Chairman and Chief Executive Officer, Dr. Janet Greeson, said at the company's 2003 Annual Meeting of Shareholders. Speaking to shareholders at one of the largest shareholders meeting to date, Greeson noted that the combination of Samaritan Pharmaceuticals and Georgetown University brings more than seven technologies into Samaritan, rapidly moving along "a continuum of development" to drive valuation and increase shareholder value. The continuum for value begins with "in vitro" studies and ends with the more advanced "proof of concept" Phase II studies in humans, to test a drug's safety and its ability to prolong lives. "The research collaboration with Georgetown University has not only given us a chance to dramatically increase our technology valuation but also strengthened every aspect of, an already strong expertise with business development, intellectual property, regulatory affairs, and governmental grants," said Greeson. Greeson identified seven priority areas for the upcoming year 1. Promising Alzheimer's Drug Candidates 2. Stem Cell Therapy for Alzheimer's, Neuron Differentiation Drug 3. New Alzheimer's Pharmacologic (Rat) Model 4. AIDS Related Dementia Drug and Orphan Drug Status Request 5. HIV "Proof of Concept" Phase II to be submitted to FDA for End of PII meeting 6. BioTerrorism Nerve Gas Inhibitor 7. Samaritan Innovative Science Foundation Greeson continued, "We are dedicated to driving valuation and will continue to aggressively 'bridge' technology from Georgetown University to potential pharmaceutical partners throughout the year." We are happy to announce the following directors were elected into Class II term expiring 2006: Eugene Boyle, Brian Sullivan and Cynthia Thompson and the following directors were elected into Class III term expiring 2005, Douglas Bessert, H. Thomas Winn, and Vassilios Papadopoulos. In other voting, shareholders approved an increase in authorized shares to 200 million shares and the selection of Sherb and Company, as our independent auditor for 2003. About Samaritan Pharma: "A Little Bridge Can Go a Long Way" Samaritan Pharmaceuticals, in collaboration with Georgetown University, drives to "bridge the gap" between Universities and potential Pharmaceutical partners. Samaritan advances and accelerates clinical drug testing, to "proof of concept" in humans, thereby, lessening the time breakthrough drugs reach suffering Alzheimer's, Cancer, Cardiovascular, and HIV patients. Samaritan's proprietary platform is based on balancing and modulating the stress hormone cortisol, counteracting cortisol's neurodegenerative and immunosuppressive properties. Disclaimer The company disclaims any information that is created by an outside party and endorses only information that is communicated by its press releases, filings and Web site. This news release contains forward-looking statements that reflect management's current beliefs about the potential for its drug candidates, science and technology. However, as with any biopharmaceutical under development, there are significant risks and uncertainties in the process of development and regulatory review. There are no guarantees that products will prove to be commercially successful. For additional information about the factors that affect the company's business, please read the company's latest Form 10-K filed May 15, 2003. The company undertakes no duty to update forward-looking statements. (Photo: http://www.newscom.com/cgi-bin/prnh/20030129/SPHCLOGO ) For further information, please contact: Gene Boyle, Business Development, +1-702-735-7001, or +1-702-499-8652, or fax, +1-702-737-7016, GeneBoyle@aol.com, or Doug Bessert, Investor Relations, DougBessert@aol.com, both of Samaritan Pharmaceuticals Inc. To receive future press releases and newsletters automatically, or for more information, visit our Web site at http://www.samaritanpharmaceuticals.com .