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Alseres Pharmaceuticals to Host 2008 First Quarter Conference Call

Saturday, May 10, 2008 General News J E 4
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HOPKINTON, Mass., May 9 Alseres Pharmaceuticals,Inc. (Nasdaq: ALSE), today announced that they will host a conference call onThursday, May 15th, 2008 at 9:00am EDT to review the first quarter endingMarch 31, 2008 and discuss other matters related to the Company.

(Logo: http://www.newscom.com/cgi-bin/prnh/20070608/NEF043LOGO )

To access the conference call, please dial 877-795-3649 for domestic and719-325-4817 international. The code for this conference call is 1073493.Please dial in 5 to 10 minutes prior to the scheduled start time. A replay ofthe call will be posted on the Investor Relations section of our website,www.alseres.com, within 48 hours following the conference call and will beavailable through Thursday, May 29th, 2008.

About Alseres Pharmaceuticals, Inc.

Alseres Pharmaceuticals, Inc. (ALSE) is engaged in the development oftherapeutic and diagnostic products primarily for disorders in the centralnervous system (CNS). The Company maintains a world-class intellectualproperty position in the field of regenerative therapeutics. The Company'sfocus is reflected in several important initiatives. Cethrin, arecombinant-protein-based drug designed to promote nerve repair after acutespinal cord injury, demonstrated positive interim results in a Phase I/IIaclinical trial. The Company's research and pre-clinical programs include,Inosine for the treatment of spinal cord injury and stroke, Oncomodulin forthe treatment of ocular injury and disease and research programs directed at anumber of regenerative therapies including bone repair. The Company has arobust molecular imaging development program targeting diagnosis ofParkinson's disease and potentially dementia. The Company's lead molecularimaging product candidate is Altropane which is in Phase III clinical trialsfor the diagnosis of Parkinsonian Syndromes including Parkinson's disease.The Company has research collaborations with Harvard Medical School andChildren's Hospital Boston.

Forward-Looking Statements

The foregoing release contains certain forward-looking statements withinthe meaning of the Private Securities Litigation Reform Act of 1995.Forward- looking statements include statements regarding Alseres' futureexpectations, beliefs, intentions, goals, strategies, plans or prospectsregarding the future, including the development and commercialization ofAltropane and Cethrin, the prospects of the Company's CNS and regenerativetherapeutics programs, the Company's strategies to develop and commercializeaxon regeneration technologies and the breadth of the Company's technologiesand intellectual property portfolio. Forward-looking statements can beidentified by terminology such as "anticipate," "believe," "could," "couldincrease the likelihood," "estimate," "expect," "intend," "is planned," "may,""should," "will," "will enable," "would be expected," "look forward," "mayprovide," "would" or similar terms, variations of such terms or the negativeof those terms. Such forward-looking statements involve known and unknownrisks, uncertainties and other factors including those risks, uncertaintiesand factors referred to in the Company's Annual Report on Form 10-K for theyear ended December 31, 2007 filed with the Securities and Exchange Commissionunder the section "Risk Factors," as well as other documents that may be filedby Alseres from time to time with the Securities and Exchange Commission. Asa result of such risks, uncertainties and factors, the Company's actualresults may differ materially from any future results, performance orachievements discussed in or implied by the forward-looking statementscontained herein. Alseres is providing the information in this press releaseas of this date and assumes no obligations to update the information in thispress release.

Alseres is a trademark and Cethrin and Altropane are registered trademarksof Alseres Pharmac
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