Javelin Pharmaceuticals (AMEX: JAV - News) announced today that the Company recently advised the American Stock Exchange (“Amex”) that it has regained compliance with Sections 121A and 802(a) of the Amex Company Guide and is currently in compliance with the Amex Rules regarding director independence.

The deficiency was first reported on February 7, 2008, when Javelin filed a Current Report on SEC Form 8-K stating that the Company no longer complied with Amex Rules regarding director independence. This deficiency resulted from the determination that a company director, Mr. Martin Driscoll, no longer qualified as independent.

On February 18, 2008, Javelin’s Board of Directors elected Mr. Peter D. Kiernan, III, as a director and qualified him as independent under the Amex Rules. At the time of his appointment, the Board had not yet determined the total number of directors who qualified as independent.

The Company’s Corporate Governance and Nominating Committee met on February 24, 2008, and reviewed the independence requirements for directors. The Committee determined that of the Board’s eight directors, five (Messrs. Watson, Flanzraich, Nebgen, and Kiernan and Ms. Clegg), qualify as independent as defined in the Amex Rules. On February 25, 2008, the Board ratified such qualification.

Accordingly, on February 26, 2008, the Company notified Amex that it had regained compliance and filed an amendment to the Current Report of February 7th disclosing that the Company had regained compliance with Sections 121A and 802(a) of the Amex Company Guide and Amex Rules requiring that a majority of the Board of Directors qualify as independent directors.

About Javelin Pharmaceuticals, Inc.

With corporate headquarters in Cambridge, MA, Javelin applies innovative proprietary technologies to develop new drugs and improved formulations of existing drugs to target unmet and underserved medical needs in the pain management market. The Company has three drug candidates in US Phase 3 clinical development. One of these US Phase 3 drug candidates, Dyloject(TM), has received Marketing Authorization Application (MAA) approval and favorable pricing in the UK, where it is now being sold. Previous clinical trials have demonstrated its safety and rapid onset of action. For additional information about Javelin, please visit the company's website at http://www.javelinpharmaceuticals.com.

Forward Looking Statement

This news release contains forward-looking statements. Such statements are valid only as of today, and we disclaim any obligation to update this information. These statements are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. These statements are based on our current beliefs and expectations as to such future outcomes. Drug discovery and development involve a high degree of risk. Factors that might cause such a material difference include, among others, uncertainties related to the ability to attract and retain partners for our technologies, the identification of lead compounds, the successful preclinical development thereof, the completion of clinical trials, the FDA review process and other governmental regulation, our ability to obtain working capital, our ability to successfully develop and commercialize drug candidates, and competition from other pharmaceutical companies.