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Contact:
Harry W. Wilcox                                     Theresa McNeely
President and C.E.O.                                Director
Cambridge NeuroScience, Inc.                        Feinstein Kean Partners Inc.
(617) 225-0600 ext. 119                             (617) 577-8110


FOR IMMEDIATE RELEASE

               CAMBRIDGE NEUROSCIENCE ANNOUNCES NASDAQ DELISTING

                 - COMPANY TO BE LISTED ON OTC BULLETIN BOARD -

CAMBRIDGE, MASSACHUSETTS, JANUARY 21, 1999- Cambridge NeuroScience, Inc.
(Nasdaq: CNSI) announced that the Nasdaq Stock Market (Nasdaq) today notified
the Company that its common stock would be delisted from the Nasdaq National
Market effective at the close of business January 21, 1999, for failing to meet
the minimum bid price requirements set forth in NASD Marketplace Rules.

Effective January 22, 1999, the Company's common stock will be listed on the OTC
Bulletin Board under the symbol "CNSI". The OTC Bulletin Board is a regulated
quotation service that displays real-time quotes and last-sale price and volume
information in over-the-counter (OTC) equity securities. An OTC equity security
generally is any equity that is not listed or traded on Nasdaq or other national
securities exchange. Information about the OTC Bulletin Board is available on
the internet at http://www.otcbb.com.  

On June 29, 1998 Nasdaq notified the Company that it was not in compliance with
Nasdaq's $1.00 minimum bid price requirement, and that the Company was being
provided 90 days to regain compliance. The Company did not meet this
requirement, and attended a hearing on November 12, 1998 to request a stay of
delisting.

Cambridge NeuroScience is a neuroscience company engaged in the discovery and
development of proprietary pharmaceuticals focusing on nerve cell survival and
function. The Company is developing products to treat stroke and chronic
neurodegenerative disorders such as multiple sclerosis, peripheral neuropathies
and other degenerative diseases.

This news release may contain forward-looking statements based on the current
expectations of management. There are certain important factors that could
cause results to differ from those anticipated by the statements made above,
including, but not limited to: the Company's ability to continue operations and
achieve profitability; the early stage of development of the Company's product
candidates; the Company's reliance on current and prospective collaborative
partners to supply funds for research, development and commercialization;
technical risks associated with the development of new products; and the
competitive environment of the biotechnology and pharmaceutical industries.