Company Contact: Bruce N. Barron, CEO
(847) 573-8025 ext. 240
Agency Contact: Ira Weingarten/Steve Chizzik
APNS Announces Delisting of Unauthorized Listing on Berlin-Bremen Stock Exchange
Vernon Hills, IL June 2, 2004 - Applied NeuroSolutions, Inc. (OTC BB: APNS) headquartered here, a world leader in the diagnosis of Alzheimer's disease, announced it had requested and received notification today that the Berlin-Bremen Stock Exchange has halted trading, and agreed to delist APNS stock from that exchange, and to do so as of close of business yesterday.
According to David Ellison, Applied NeuroSolutions Chief Financial Officer, "The company never applied for a listing on this exchange, was never notified that the listing had occurred, and was totally shocked by the action of the Berlin-Breman Stock Exchange to list and trade Applied NeuroSolutions stock without authorization. In addition, " We have been unable to obtain information regarding the person or persons who initiated this listing."
The Financial Times of London recently reported that the Berlin-Bremen Stock Exchange is being used to get around U.S. laws targeted at barring a form of share price manipulation, according to some small U.S. businesses that have found their stock listed on it.
In this article, the companies say that not only did they not seek a listing on the regional German stock exchange, they neither agreed to, nor were they informed of, the listing.
Ellison added, " We are relieved to report that this incident is now behind us."
This press release contains forward-looking statements. Applied NeuroSolutions wishes to caution the readers of this press release that actual results may differ from those discussed in the forward-looking statements and may be adversely affected by, among other things, the need to raise substantial additional equity capital, and the risks associated with new product development and commercialization, clinical trials, intellectual property, regulatory approvals, and potential competitive offerings. For further information, please visit the company's website at www.appliedneurosolutions.com, and review the company's filings with the Securities and Exchange Commission.