Investors
& Media

NEW YORK, NY OCT 20 - Manhattan Pharmaceuticals, Inc. (AMEX: MHA) will be presenting at the C.E. Unterberg, Towbin Emerging Growth Life Sciences Conference on Tuesday, October 25th at 3:20 p.m. EDT at The Palace Hotel in New York City. Douglas Abel, President and CEO, will provide a corporate overview, including a review of the Company's lead product candidate Oleoyl-estrone (OE), an experimental, orally administered small molecule in development for the treatment of obesity.

To access the live audio webcast for this presentation please go to http://www.wsw.com/webcast/ceut3/mha/ approximately 15 minutes prior to the presentation in order to register and download any necessary software. A replay of the audio presentation will be available following the event at http://www.manhattanpharma.com.

This past Sunday the company announced preliminary results from a Phase I study of Oleoyl-estrone (OE) at the 2005 Annual Scientific Meeting of NAASO, The Obesity Society, in Vancouver, BC.

About Manhattan Pharmaceuticals, Inc.
Manhattan Pharmaceuticals, Inc. (AMEX: MHA), 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. (http://www.manhattanpharma.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