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Michael V. Novinski, Emisphere President/CEO Featured in the Wall Street Transcript

Saturday, May 17, 2008 General News J E 4
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CEDAR KNOLLS, N.J., May 16 Highlighting thecompany's expectations for the future as well as its current product pipeline,Michael V. Novinski, President and CEO of Emisphere Technologies, Inc.(Nasdaq: EMIS), was featured in an extensive interview published recently inThe Wall Street Transcript (TWST). Established more than 40 years ago, TWSTinterviews the leaders of financial markets, including CEOs, analysts andmoney managers, and publishes their viewpoints, opinions and recommendations.

In his interview, Mr. Novinski discussed the two most important objectivesfor the company moving forward: "We want to bring our technology to thecommercial level as soon as possible," he said, "and build our early andmid-stage pipeline with additional partnerships, expecting to add three newpartnerships during 2008."

Mr. Novinski also explained Emisphere's proprietary eligen(R) technologyand its applications for drug delivery to address a number of medicalconditions. He said that the technology needs to come from the clinicalexperimental stage to the commercial level. "At that point we will be able todemonstrate that, in fact, our technology can provide benefits to thepopulation at large, for whatever treatment it is we are talking about," Mr.Novinski explained.

One of those treatments is for Vitamin B12 deficiency. Emisphere hascompleted two successful animal studies using its eligen(R) technology for anoral formulation of Vitamin B12, and expects to be conducting studies inhumans by mid-year, Mr. Novinski told TWST. "We believe there should be anopportunity to commercialize our technology [with our oral Vitamin B12formulation] as early as next year."

Mr. Novinski also discussed the company's current partnerships,highlighted by "two very exciting products with Novartis that are already wellinto Phase III [development]." Through this program, "by the middle of thisyear, more than 5,000 patients will be taking Emisphere's eligen(R) technologywith Salmon Calcitonin for the treatment of osteoarthritis and osteoporosis,"explained Mr. Novinski. "That's very exciting."

The entire Wall Street Transcript interview can be viewed at Emisphere'sWebsite, www.emisphere.com.

ABOUT EMISPHERE TECHNOLOGIES, INC.

Emisphere Technologies, Inc. is a biopharmaceutical company that focuseson a unique and improved delivery of therapeutic molecules and pharmaceuticalcompounds using its eligen(R) Technology. Some of these molecules or compoundscan only be given by injection; when combined with our technology; convenientoral versions may be safe, effective and provide significant advantages. Thebenefits of other compounds are limited due to poor bioavailability, slowon-set of action or variable absorption. In those cases, use of Emisphere'stechnology can improve the therapeutic effectiveness of the compounds. Theeligen(R) technology can be applied to the oral route of administration aswell other delivery pathways, such as buccal, per rectum, pulmonary,intra-vaginal or transdermal. The web site is: www.emisphere.com.

Safe Harbor Statement Regarding Forward-Looking Statements

The statements in this release and oral statements made by representativesof Emisphere relating to matters that are not historical facts (includingwithout limitation those regarding potential third party collaborations,future performance or financial results, the timing or potential outcomes ofresearch collaborations or clinical trials, any market that might develop forany of Emisphere's product candidates and the sufficiency of Emisphere's cashand other capital resources) are forward-looking statements that involve risksand uncertainties, including, but not limited to, the likelihood that one ormore potential third party collaborations may not be consummated, that actualperformance or results could materially differ, that future research willprove successful, t
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