Investors
& Media

NEW YORK, NY SEPT 1 - In an effort to expand its reach and raise awareness in the US investment community, Manhattan Pharmaceuticals, Inc (MHTT.OB) said it retained Redington, Inc., Westport, CT, as its financial communications counselors and investor relations firm.

With specific expertise in emerging life sciences companies, Redington will assist Manhattan Pharmaceuticals in developing and managing investor relations programs, including market road shows and investor meetings in principal financial centers across America.

Redington provides a number of services to build relationships between its publicly traded clients and the investment community. Its programs address the risk portion of allocated investment portfolios, working with institutional portfolio managers, wealth managers and transactional brokers at private equity groups, mutual funds, national wire houses and regional brokerages.

Among the companies with which Redington has worked to help broaden investment community sponsorship are Amgen, Calgene, Elan, Celgene, Keryx, Medarex and Crucell.

"We believe increased awareness of the enormous potential of our product candidates will heighten the interest in Manhattan Pharmaceuticals and bring new shareholders to the company," said Douglas Abel, president and chief executive officer of Manhattan Pharmaceuticals.

"We are looking forward to working with Manhattan Pharmaceuticals to help the company gain broader attention for its nicely balanced product portfolio," said Thomas Redington, president of Redington, Inc. "We believe investors seeking gains from the promise of new medical technologies will find Manhattan Pharmaceuticals an attractive and compelling way to pursue their goals."

About Manhattan Pharmaceuticals, Inc.
Manhattan Pharmaceuticals, Inc. (www.manhattanpharma.com), a development stage pharmaceutical company, acquires and develops proprietary prescription drugs for large, underserved patient populations. In view of the worldwide obesity epidemic, the company is developing OE, an orally administered novel therapeutic for weight loss. To meet the needs of other major, underserved medical markets while lowering development risks, Manhattan Pharmaceuticals is also developing PTH (1-34), a peptide believed to be a regulator of epidermal cell growth, for psoriasis and Propofol Lingual Spray, a convenient, proprietary lingual spray formulation of propofol, the world's best-selling general anesthetic, as a sedative-hypnotic for use during diagnostic and therapeutic procedures.

About Redington
Redington, Inc. is a financial communications and investor relations firm with a specialty practice for emerging life sciences companies. It provides a full range of communications and corporate services, including message development, presentation structure and content, market road shows, editorial products including executive speeches, news releases, investor literature and annual reports, media relations, institutional and analyst introductions, and broker relationship management. For more information visit www.redingtoninc.com.

Contact
Nicholas J. Rossettos, CPA
Chief Financial Officer
Manhattan Pharmaceuticals, Inc.
212/582 3950

Thomas Redington
Redington, Inc.
203/222-7399
212/926-1733