EpiCept Corporation (Nasdaq and OMX Nordic Exchange: EPCT) today announced that its common stock traded on the OMX Nordic Exchange in Stockholm has been removed from the observation segment and transferred back to its ordinary position on the Exchange as of today, June, 29, 2009.

On June 26, 2009, NASDAQ OMX announced the return of EpiCept's common stock to its normal position. In its decision, NASQAQ OMX cited EpiCept's announcement on June 19, 2009 of a public offering resulting in approximately $8.9 million in net proceeds, which the Company expects will be sufficient to fund operations into the second quarter of 2010.

Jack Talley, President and CEO of EpiCept commented, "We are delighted that the OMX Nordic Exchange has restored our stock to the ordinary position and that we are no longer on the observation segment. This transfer is due in part to our strengthened balance sheet, and also to our financial prospects going forward due to the regulatory approval of Ceplene® in the European Union as well as our recently announced Named Patient Program for Ceplene."

About EpiCept Corporation

EpiCept is focused on the development and commercialization of pharmaceutical products for the treatment of cancer and pain. The Company's lead product is Ceplene®, which has been granted full marketing authorization by the European Commission for the remission maintenance and prevention of relapse in adult patients with Acute Myeloid Leukemia in first remission. The Company has two oncology drug candidates currently in clinical development that were discovered using in-house technology and have been shown to act as vascular disruption agents in a variety of solid tumors. The Company's pain portfolio includes EpiCeptTM NP-1, a prescription topical analgesic cream in late-stage clinical development designed to provide effective long-term relief of pain associated with peripheral neuropathies.

Forward-Looking Statements

This news release and any oral statements made with respect to the information contained in this news release, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements which express plans, anticipation, intent, contingency, goals, targets, future development and are otherwise not statements of historical fact.