Milestone Payments slated for reduction from $25 Million to $7 Million, Royalties from 10-12% to 4%

Alseres Pharmaceuticals, Inc. (Nasdaq: ALSE - News), today announced an agreement with BioAxone Therapeutic, Inc., of Montreal, Canada, whereby, upon payment by Alseres of an option fee of $7 million on or before October 27, 2008, Alseres may exercise an option to amend the Company's Cethrin License Agreement.

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Pursuant to the option agreement, the pre-commercial milestone payments in the amended license agreement will be reduced from $25 million to $7 million payable on or before December 31, 2009. In addition, the sales-based royalties in the amended license agreement will be reduced from 10-12% to 4% for spinal cord injury and 1% for all other indications. Finally, the amended license agreement will eliminate all development milestones related to Cethrin.

Alseres Pharmaceuticals, Inc. (Nasdaq: ALSE - News) today announced that the Company will participate in a panel entitled "Traumatic Brain and Spinal Cord Injury" at the Neurotech Industry Investing & Partnering Conference in Boston, MA, Thursday, May 8, 2008. The session will focus on emerging treatments of major traumatic injuries to the Central Nervous System (CNS). The event is the premier partnering and investing conference for the segment of the healthcare sector focused on neurological technologies.

Alseres Pharmaceuticals, Inc. (Nasdaq: ALSE - News) announced today that seven sites for the first stage of the ALTROPANE® Parkinson's or Essential Tremor - 2 (POET-2) Phase III clinical trial program are now open for patient enrollment. ALTROPANE molecular imaging agent is an investigational, diagnostic drug developed by Alseres to enable doctors to distinguish Parkinsonian Syndromes from non-Parkinsonian Syndromes in patients with tremor.

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. . . at 'Working 2 Walk' in Washington, DC, April 13-15, 2008

Dr. Mark Hurtt, Chief Medical Officer, to present interim results of the Cethrin(R) Phase I/IIa Clinical Trial in Acute Spinal Cord Injury

Alseres Pharmaceuticals, Inc. (Nasdaq: ALSE - News) announced that on April 15, 2008, Dr. Mark Hurtt, Chief Medical Officer, will discuss the CETHRIN development program as a member of an expert panel on Spinal Cord Injury Research during a congressional briefing on Capitol Hill focused on "Rapid Advancements in Paralysis Research." In addition, Dr. Hurtt will present interim results of the CETHRIN Phase I/IIa clinical trial in acute spinal cord injury during a plenary session on April 13, 2008 at the "Working 2 Walk" Science and Education Symposium in Washington, DC.

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Today Alseres Pharmaceuticals, Inc. hosted a conference call to reviewing the 2007 financial results and discuss other matters related to the Company.

Conference Call To Be Held Tuesday, April 1, 2008 At 10:00 a.m. Eastern Daylight Time

Alseres Pharmaceuticals, Inc. (Nasdaq: ALSE - News) today reported consolidated financial results for the year ended December 31, 2007 and company highlights.

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"2007 was a year of significant clinical, regulatory, pipeline and business accomplishments that helped advance our mission of building a leading biopharmaceutical company focused on disorders of the central nervous system," commented Peter G. Savas, Chairman and Chief Executive Officer of Alseres. "Our progress reinforces our confidence in the broad potential of our pipeline and in our leadership in nerve repair and regenerative therapeutics. Our focus in 2008 will be on commencing the Phase IIb trial of CETHRIN, partnering our molecular imaging assets and closing collaborations for our regenerative therapeutics."

Alseres Pharmaceuticals, Inc. (Nasdaq: ALSE - News) today announced that the report of the Company's independent registered public accounting firm regarding the Company's 2007 financial statements contained an explanatory paragraph regarding the Company's ability to continue as a going concern. NASDAQ Marketplace Rules require NASDAQ-traded companies to publicly announce if their Annual Report on Form 10-K includes an audit report containing a going concern explanatory paragraph. For further information, please refer to the Company's Annual Report on Form 10-K filed on March 31, 2008.

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About Alseres Pharmaceuticals, Inc.

Alseres Pharmaceuticals, Inc. (Nasdaq: ALSE - News) today announced that the Company will host a conference call on Tuesday, April 1st, 2008 at 10:00am EDT to review 2007 Financial Results and discuss other matters related to the Company.

To access the conference call, please dial 877-718-5104 for domestic and 719-325-4843 international. The code for this conference call is 7767549. Please dial in 5 to 10 minutes prior to the scheduled start time. A replay of the call will be posted on the Investor Relations section of the website, http://www.alseres.com, within 48 hours following the conference call and will be available through Tuesday, April 15th, 2008.

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About Alseres Pharmaceuticals, Inc.

Alseres Pharmaceuticals, Inc. (Nasdaq: ALSE - News) today announced that it entered into a Third Amended and Restated Convertible Promissory Note Purchase Agreement dated as of March 18, 2008, among Robert L. Gipson, Thomas Gipson, Arthur Koenig, Ingalls & Snyder Value Partners, L.P. and Highbridge International LLC (each a "Purchaser"). The agreement provides for the Company to borrow, in addition to the $25 million already borrowed from the Purchasers, $5 million from Robert L. Gipson, an existing Purchaser. The agreement further provides that the Company may borrow up to an additional $5 million from any Purchaser on the terms and conditions in the agreement. All other terms of the agreement remained the same.

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. . . at the American Society for Experimental NeuroTherapeutics (ASENT) Conference

Preclinical Studies Demonstrate a Viable Intravenous Inosine Formulation and Support Oral Dosing for Three Alseres' DAT Blocker Compounds

Alseres Pharmaceuticals, Inc. (Nasdaq: ALSE - News) announced that data from preclinical studies of the Company's nerve repair candidate, Inosine, and DAT Blocker product candidates from its neurodegeneration program were presented at the ASENT conference, March 6-8, 2008 in Arlington, VA.

Company plans to begin Phase IIb study in the first half of 2008

Alseres Pharmaceuticals, Inc., (Nasdaq: ALSE - News), announced today that it has concluded enrollment in the Phase I/IIa clinical trial of Cethrin in acute spinal cord injury (SCI). A total of 48 subjects have been enrolled at 9 sites in the United States and Canada. We expect to release periodic updates of the data in 2008 following protocol-specified patient evaluations.

"We continue to be encouraged by the safety and efficacy observations of the trial. The rate and magnitude of improvement of many subjects seems greater than the expected pattern of recovery," commented Dr. Mark Hurtt, Alseres Chief Medical Officer. "The findings of the Phase I/IIa study serve as a strong foundation for the acceleration of our development plans for Cethrin."

Alseres Pharmaceuticals, Inc., (Nasdaq: ALSE - News), announced today that it has enrolled the first subject in the initial stage of the ALTROPANE® Parkinson's or Essential Tremor - 2 (POET-2) Phase III clinical trial program. This subject was enrolled at the University of Alabama, Birmingham trial site under the direction of Principal Investigator Dr. Ray L. Watts, MD, Professor and Chairman of the Department of Neurology.

Alseres Pharmaceuticals, Inc. (Nasdaq: ALSE - News) today announced that Kenneth L. Rice Jr., Executive Vice President and Chief Financial Officer of Alseres Pharmaceuticals, Inc., will be presenting a company overview at the New York Society of Security Analysts' 11th Annual Biotech/Specialty Pharma Conference, December 12th, 2007.

NI Research today announced the release of two publications:

1) The December issue of NeuroInvestment reviews and evaluates therapeutics-under-development for the treatment of spinal cord injury. SCI is a multi-faceted disorder which will eventually require therapies which protect remaining cells, foster regeneration, and allow regrowth to cross gaps and barriers of scar tissue. While neurorehabilitative and neurosurgical techniques have become more effective, and interventions like hypothermia have had some positive results, there is still a pronounced lack of proactive interventions available. Even though the absolute number of new patients is relatively small, the consequences of spinal cord injury are so dire, in terms of lifelong disability, that this does constitute a major, billion-dollar plus market opportunity. Among the programs reviewed are those from Biogen-Idec, Geron, NeuralStem, Novartis, Proneuron, Sangamo, Sygnis, Neuraxo, and the promising Cethrin program being developed by Alseres (NasdaqCM:ALSE - News). The December issue also has pointed commentary regarding Neurochem and Shire, and a Focus Review of Memory Pharmaceuticals.

Today Alseres Pharmaceuticals, Inc. hosted a conference call to review the third quarter of 2007 and discuss other matters related to the Company.

Conference Call To Be Held Thursday, November 15, 2007 At 10:00 a.m. Eastern Time

Alseres Pharmaceuticals, Inc. (Nasdaq: ALSE - News) today reported financial results for the quarter ended September 30, 2007 and provided further operational guidance for fiscal year 2007.

Alseres Pharmaceuticals, Inc. (Nasdaq: ALSE - News) today announced that the Company will host a conference call on Thursday, November 15th, 2007 at 10:00am EST to review the third quarter of 2007 and discuss other matters related to the Company.

Alseres Pharmaceuticals, Inc. (Nasdaq: ALSE - News) today announced that the Company will be presenting at two upcoming investor conferences providing an overview on the Company and its therapeutic programs.

Alseres Pharmaceuticals, Inc. (Nasdaq: ALSE - News) today announced that Dr. Frank Bobe, Executive Vice President and Chief Business Officer of Alseres Pharmaceuticals, Inc., will be presenting at Windhover Information's 2nd Annual Therapeutic Area Partnerships in Philadelphia, PA October 24-26, 2007. Dr. Bobe will be presenting an overview on Alseres Regenerative Therapeutics program. Cethrin®, the Company's lead regenerative therapeutic for acute spinal cord injury, was named one of the "Top 10 Licensable Neuroscience Projects" by Windhover.