Elite Pharmaceuticals Expands its Board of Directors
Wednesday December 18, 8:32 am ET



NORTHVALE, N.J., Dec. 18 /PRNewswire-FirstCall/ -- Elite Pharmaceuticals, Inc.
(Amex: ELI - News) announced today that three new members have been elected to
its Board of Directors: John P. de Neufville, Ph.D., Richard A. Brown, and John
A. Moore. They will join the current Board, which includes Atul M. Mehta, Ph.D.,
Eric L. Sichel, M.D., Donald S. Pearson, and Harmon Aronson, Ph.D.

Dr. John P. de Neufville has been the Chief Executive Officer and President of
Voltaix, Inc., a supplier of electronic chemicals, since 1986. Dr. de Neufville
has been a member of Elite's board of advisors since 1997. He holds a Ph.D. in
applied physics and an M.S. in geology from Harvard University and a B.S. in
geology from Yale University.


John A. Moore has been Chief Executive Officer and President of Edson Moore
Healthcare Ventures, an investment entity, since July 2002. Since 1994, Mr.
Moore has been Chief Executive Officer and President of Optimer, Inc., a
research based polymer development company. Mr. Moore holds a B.A. in history
from Rutgers University.


Richard A. Brown, has been Chairman of the Board of Directors of Niadyne, Inc.,
a dermatologic product and drug delivery company, since 1997. From 1986 to the
present, Mr. Brown also has been President of Eagle Ventures, a healthcare
venture capital and investment banking company. Mr. Brown also worked in the
securities field for Tucker Anthony from 1972 to 1984 and Healthcare Ventures
from 1984 to 1986.


"We are pleased to welcome Dr. de Neufville, Mr. Moore, and Mr. Brown to our
Board," stated Atul M. Mehta, CEO. "Each new member brings a unique background
to Elite, complementing the expertise of the current board members, and each is
a significant shareholder in the Company. With all of the exciting recent events
at Elite -- such as the acquisition of the rights of the once-a-day Oxycodone
product from our joint venture with Elan and the addition of Chris Dick as our
Vice President of Business Development -- we are enthusiastic about entering the
new year."


Elite specializes in the development of delayed release, sustained release,
targeted release, pulse release and other oral controlled release systems. Elite
has over fifteen products under development in the therapeutic areas that
include cardiovascular, diabetes, arthritis, pain, neurology, allergy and
infection. Some of these products are being developed in collaboration with
other pharmaceutical companies. Elite has been issued three patents and
additional patent applications have been filed. Elite has also established an
FDA and DEA registered facility in Northvale, NJ.


This release contains forward-looking statements which involve known and unknown
risks, delays, uncertainties and other factors not under the Company's control,
which may cause actual results, performance or achievements of the Company to be
materially different from the results, performance or other expectations implied
by these forward-looking statements. These factors include results of current or
pending research and development activities, actions by the FDA and other
regulatory authorities, and those factors detailed in the Company's filings with
the Securities and Exchange Commission such as 10K, 10Q and 8K reports.

Source: Elite Pharmaceuticals

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