EXHIBIT NO. 99.1


ALTAREX OUTLINES STRATEGIC DIRECTION AT ANNUAL GENERAL MEETING OF SHAREHOLDERS

WALTHAM, Mass., June 21 /CNW/-- AltaRex Corp. (TSE: AXO, OTC: ALXFF.PK) updated
shareholders yesterday at the Company's Annual General Meeting in Toronto.
AltaRex President and CEO, Richard E. Bagley, reported on the Company's
strategic direction, which has been refocused as a result of the Company's
exclusive licensing agreement with a wholly-owned subsidiary of United
Therapeutics Corporation with respect to OvaRex(R) and four other product
candidates of the Company.

(Photo:  http://www.newscom.com/cgi-bin/prnh/20000831/ALTREXLOGO)

A review to date of the OvaRex(R) program by United Therapeutics has been
conducted with input sought from leading clinical oncologists and gynecologists
as well as regulatory consultants. United Therapeutics has disclosed its
intention, subject to further counsel from the U.S. Food and Drug Administration
(FDA), to conduct a randomized pivotal trial initiated by the first quarter of
next year. As part of the ongoing evaluation, United Therapeutics has also
explored various manufacturing alternatives consistent with the conduct of this
new trial. During this evaluation period, United Therapeutics has assumed
remaining OvaRex(R) development, manufacturing and commercialization
responsibilities and expenses, including personnel, for the licensed
territories.

Consistent with these activities by United Therapeutics, AltaRex has worked
closely with Dompe Farmaceutici to explore opportunities for OvaRex(R) in the
European markets. As antibodies are regulated on a centralized basis in Europe
and in light of favorable responses from certain country experts regarding the
manufacturing comparability program, AltaRex is pursuing aggressively an
OvaRex(R) collaboration for Northern European markets. Such a collaboration in
Northern Europe would make the Company better able to integrate United
Therapeutic's efforts for North American registration of OvaRex(R) with those in
Europe. The companies with which AltaRex has distribution arrangements for
OvaRex(R) in Southern Europe and the Middle East are committed, if necessary, to
fund the study of up to 60 patients in the aggregate for regulatory filing
purposes.

As the great majority of present OvaRex(R)-related expenses have been assumed by
United Therapeutics, the Company has focused its reduced staffing on its
patents, the development of further therapeutic applications, and business
development. The Company believes that the results of its OvaRex(R) trials to
date validates its technology platform of using foreign antibodies to alter
immune responses for clinical benefit and without significant toxicities. The
Company's small group of scientists has considerable expertise in antigen
presentation and dendritic cell biology. With a growing base of both this
scientific expertise and breadth of intellectual property, the Company believes
that it can pursue research collaborations both within and outside the cancer
field without significant additional staff and increases in operating expense.

"Given our current arrangements with United Therapeutics, Dompe Farmaceutici,
Genesis Pharma and Medison Pharma, combined with the Company's growing patent
estate led by our U.S.-issued OvaRex(R) patent and the recent European Patent
Office's intent to grant a patent for OvaRex(R), we believe that AltaRex is
well-positioned to capitalize on its novel technology worldwide. We expect that
moving forward, both our oncology products and our science and intellectual
property position will be the main drivers of licensing and other revenue
opportunities," commented Mr. Bagley. "We've single-handedly developed our lead
product OvaRex(R) through phase II studies and will have successfully licensed
the product for the majority of markets worldwide. We believe that these
milestones support our proprietary technology platform, and we look forward to
expanding this potential further, not only beyond ovarian





and other cancer indications, but to underserved disease areas where market
potential - and potential patient benefit - remain high."

Additional information about AltaRex research and development, clinical trials,
news and events can be found on the Company website www.altarex.com.

This news release contains forward-looking statements that involve risks and
uncertainties, which may cause actual results to differ materially from the
statements made. For this purpose, any statements that are contained herein that
are not statements of historical fact may be deemed to be forward- looking
statements. Without limiting the foregoing, the words "believes," "anticipates,"
"plans," "intends," "expects" and similar expressions are intended to identify
forward-looking statements. Such risks and uncertainties include, but are not
limited to our need for capital; the risk that the Company can not raise funds
on a timely basis on satisfactory terms or at all; the need to obtain and
maintain corporate alliances, such as the alliance with United Therapeutics, and
the risk that the Company cannot establish corporate alliances on a timely
basis, on satisfactory terms, or at all; changing market conditions;
uncertainties regarding the timely and successful completion of clinical trials
and patient enrollment rates, uncertainty of pre-clinical, retrospective, early
and interim clinical trial results, which may not be indicative of results that
will be obtained in ongoing or future clinical trials; whether the Company
and/or its collaborators will file for regulatory approval on a timely basis;
uncertainties as to when, if at all, the FDA and other similar regulatory
agencies will accept or approve regulatory filings for the Company's products;
the need to establish and scale-up manufacturing processes, uncertainty as to
the timely development and market acceptance of the Company's products; the risk
that the claims allowed under any issued patent owned or licensed by the Company
will not be sufficiently broad to protect the Company's technology, that any
patents issued to the Company will not be sustained if challenged in court
proceedings or otherwise or that third parties will be able to develop products
or processes that do not infringe valid patents owned or licensed by the
Company, and other risks detailed from time-to-time in the Company's filings
with the United States Securities and Exchange Commission and Canadian
securities authorities. The Company does not assume any obligation to update any
forward-looking statement.

THE TORONTO STOCK EXCHANGE HAS NOT APPROVED OR DISAPPROVED OF THE INFORMATION
CONTAINED HEREIN

For further information
Robert Newman, VP Business Operations of AltaRex Corp., +1-781- 672-0138,
investor@altarex.com