Update: Neurobiological Technologies Sets Date for Second Quarter Financial Results and Conference Call

EMERYVILLE, Calif., Feb. 7 NeurobiologicalTechnologies, Inc. (NTI(R)) (Nasdaq: NTII), today announced it will releaseits second quarter 2008 financial results, for the quarter ended December 31,2007, on February 11. The Company will host a conference call to discuss theearnings and to give a corporate update.

Hosting the call will be Paul E. Freiman, President and Chief ExecutiveOfficer, and Craig W. Carlson, Vice President and Chief Financial Officer.The details for the call are as follows:

About Neurobiological Technologies, Inc.

NTI is a specialty biopharmaceutical company with expertise in identifyingand acquiring promising drug candidates and in designing and managinglate-stage clinical trials for central nervous system conditions. The Companyis currently developing Viprinex(TM) (ancrod), a novel reperfusion agent thatis in pivotal Phase 3 trials for the treatment of acute ischemic stroke.Live Call: -- Date: Monday, February 11, 2008 -- Time: 10:30 a.m. ET, 9:30 a.m. CT, 7:30 a.m. PT -- Dial-in number: 877-857-6147 (U.S.) 719-325-4822 (International) Webcast of Call: -- A live webcast can be accessed online by going to: http://investor.shareholder.com/ntii/events.cfm The call will be archived and accessible at the same website for 90 days Telephonic Replay: A playback of the conference call will be available from 10:00 AM PT February 11th through midnight February 15, 2008. Replay number: 888-203-1112 (U.S. and Canada) / 719-457-0820 (international). Replay access code: 3898964.

SOURCE Neurobiological Technologies, Inc.

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