EpiCept Regains Compliance with Nasdaq Listing Rule

EpiCept Regains Compliance with Nasdaq Listing Rule

TARRYTOWN, N.Y.--(BUSINESS WIRE)--Aug. 27, 2008--EpiCept
Corporation (Nasdaq and OMX Nordic Exchange: EPCT) today announced
that it has been deemed in compliance with the Nasdaq Hearings Panel's
decision dated August 6, 2008 and that accordingly, the Panel has
determined to continue the listing of EpiCept's securities on The
Nasdaq Stock Market.

    On August 6, 2008, EpiCept received a letter from Nasdaq stating
that the Nasdaq Hearings Panel granted the company's request for
continued listing on The Nasdaq Stock Market, subject to EpiCept's
ability to maintain a market value of listed securities above $35
million for ten (10) consecutive trading days, on or before August 29,
2008, and comply with all requirements for continued listing on The
Nasdaq Stock Market.

    EpiCept has until October 13, 2008 to regain compliance with
Marketplace Rule 4310(c)(4), which requires that the closing bid price
of the company's common stock be a minimum of $1.00.

    About EpiCept Corporation

    EpiCept is focused on unmet needs in the treatment of cancer and
pain. The Company's broad portfolio of pharmaceutical product
candidates includes Ceplene(R), a cytokine immunomodulator that
recently received a positive opinion from the CHMP in Europe for the
remission maintenance of AML patients, and several pain therapies in
clinical development. In addition, EpiCept's ASAP technology, a
proprietary live cell high-throughput caspase-3 screening technology,
can efficiently identify new cancer drug candidates and molecular
targets that selectively induce apoptosis in cancer cells. Two
oncology drug candidates currently in clinical development that were
discovered using this technology have also been shown to act as
vascular disruption agents in a variety of solid tumors.

    Forward-Looking Statements

    This news release and any oral statements made with respect to the
information contained in this news release, contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements include statements
which express plans, anticipation, intent, contingency, goals,
targets, future development and are otherwise not statements of
historical fact. These statements are based on EpiCept's current
expectations and are subject to risks and uncertainties that could
cause actual results or developments to be materially different from
historical results or from any future results expressed or implied by
such forward-looking statements. Factors that may cause actual results
or developments to differ materially include: the risks associated
with the adequacy of our existing cash resources, our need to raise
additional financing to continue to meet our capital needs and our
ability to continue as a going concern, the risks associated with our
ability to continue to meet our obligations under our existing debt
agreements or that we may default on our loans or that our lenders may
declare the Company in default or that our secured lender would seek
to sell our assets, the risk that the Company's securities may be
delisted by The Nasdaq Capital Market or the OMX Nordic Exchange, the
risk that we do not receive final regulatory marketing approval by the
European Commission for Ceplene(R), the risk that Ceplene(R), if
approved, will not be launched in the first quarter of 2009 or achieve
significant commercial success, the risk that we are unable to find a
suitable marketing partner for Ceplene(R) on attractive terms, a
timely basis or at all, the risk that Myriad's development of
Azixa(TM) will not be successful, the risk that Azixa(TM) will not
receive regulatory approval or achieve significant commercial success,
the risk that we will not receive any significant payments under our
agreement with Myriad, the risk that the development of our other
apoptosis product candidates will not be successful, the risk that our
ASAP technology will not yield any successful product candidates, the
risk that clinical trials for NP-1 or EPC2407 will not be successful,
the risk that NP-1 or EPC2407 will not receive regulatory approval or
achieve significant commercial success, the risk that our other
product candidates that appeared promising in early research and
clinical trials do not demonstrate safety and/or efficacy in
larger-scale or later stage clinical trials, the risk that we will not
obtain approval to market any of our product candidates, the risks
associated with dependence upon key personnel, the risks associated
with reliance on collaborative partners and others for further
clinical trials, development, manufacturing and commercialization of
our product candidates; the cost, delays and uncertainties associated
with our scientific research, product development, clinical trials and
regulatory approval process; our history of operating losses since our
inception; the highly competitive nature of our business; risks
associated with litigation; risks associated with prior material
weaknesses in our internal controls; and risks associated with our
ability to protect our intellectual property. These factors and other
material risks are more fully discussed in EpiCept's periodic reports,
including its reports on Forms 8-K, 10-Q and 10-K and other filings
with the U.S. Securities and Exchange Commission. You are urged to
carefully review and consider the disclosures found in EpiCept's
filings, which are available at www.sec.gov or at www.epicept.com. You
are cautioned not to place undue reliance on any forward-looking
statements, any of which could turn out to be wrong due to inaccurate
assumptions, unknown risks or uncertainties or other risk factors.

    EPCT-GEN

    *Azixa is a registered trademark of Myriad Genetics, Inc.



CONTACT: EpiCept Corporation:
             Robert W. Cook, 914-606-3500
             rcook@epicept.com
             or
             Media:
             Feinstein Kean Healthcare
             Greg Kelley, 617-577-8110
             gregory.kelley@fkhealth.com
             or
             Investors:
             Lippert/Heilshorn & Associates
             Kim Sutton Golodetz, 212-838-3777
             kgolodetz@lhai.com
             or
             Bruce Voss, 310-691-7100
             bvoss@lhai.com