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Nile Therapeutics Announces Move to The NASDAQ Capital Market

Tuesday, May 13, 2008 General News J E 4
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SAN FRANCISCO, May 12 Nile Therapeutics(OTC Bulletin Board: NILT) today announced that it has received notificationfrom The NASDAQ Stock Market that its common stock has been approved forlisting on The NASDAQ Capital Market under the symbol "NLTX." Nileanticipates trading of its securities on NASDAQ to commence on Tuesday, May13th. Until that time, the Company's common stock will continue to trade onthe OTC Bulletin Board(R) under the symbol "NILT.OB."

About Nile Therapeutics

Nile Therapeutics, Inc. is a clinical-stage biopharmaceutical company thatdevelops innovative products for the treatment of cardiovascular disease andother areas of unmet medical need. Nile is initially focusing its efforts ondeveloping its lead compound, CD-NP, a novel chimeric natriuretic peptide inclinical studies for the treatment of heart failure, and 2NTX-99, a smallmolecule, pre-clinical, anti-atherothrombotic agent with nitric oxide donatingproperties. A key component of the company's strategy is to acquire the globalrights to additional compounds to expand its portfolio. More information onNile can be found at www.nilethera.com.

This press release contains forward-looking statements within the meaningof the Private Securities Litigation Reform Act of 1995 that involvesubstantial risks and uncertainties. All statements, other than statements ofhistorical facts, included in this press release regarding our strategy,future operations, outlook, milestones, the success of Nile's productdevelopment, future financial position, future financial results, plans andobjectives of management are forward-looking statements. We may not actuallyachieve these plans, intentions or expectations and Nile cautions investorsnot to place undue reliance on our forward-looking statements. Actual resultsor events could differ materially from the plans, intentions and expectationsdisclosed in the forward-looking statements we make. Various important factorsthat could cause actual results or events to differ materially from theforward-looking statements that we make are described in greater detail in thereports we file with Securities and Exchange Commission, including the "RiskFactors" section in Item 1 of the Form 10-KSB we filed with the Securities andExchange Commission on March 27, 2008. Nile is providing this information asof the date of this press release and does not undertake any obligation toupdate any forward-looking statements as a result of new information, futureevents or otherwise.

SOURCE Nile Therapeutics, Inc.
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