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APPLIED NEUROSOLUTIONS’ FOUNDING SCIENTIST CO-CHAIRS ALZHEIMER’S PANEL TO EXAMINE NEW RESEARCH MODELS


Vernon Hills, IL, July 19, 2004-- Applied NeuroSolutions, Inc. (OTC BB: APNS, www.appliedneurosolutions.com) announced today that its founding scientist, Peter Davies, Ph. D., co-chaired a day-long panel on Saturday with Frost White, Ph. D., Pfizer Inc. that explored the development of better research tools for Alzheimer’s disease (AD). Sponsored by the Alzheimer’s Research Consortium as part of the Alzheimer's Association's 9th International Conference on Alzheimer’s Disease and Related Disorders, in Philadelphia, PA, the panel drew together academicians and pharmaceutical companies in an effort to resolve this common obstacle.

“Animals do not get Alzheimer’s disease,” commented Dr. Davies, “This problem plagues all Alzheimer’s research. It’s expensive to move forward with new therapeutic compounds without adequate animal models. If we could develop a mouse that exhibits both of the pathologies present in Alzheimer’s disease, neurofibrillary tangles and amyloid plaques, new treatments could become more cost-effective to develop. The models currently available only develop one symptom or the other, not both of them.”

“In the meantime", Dr. Davies went on to say, “Applied NeuroSolutions is bringing to market a transgenic mouse, that develops some of the human pathologies, including neurofibrillary tangles and neuronal cell death, found in a human AD brain, and is perhaps the best animal model currently available for researchers developing a therapeutic intervention that targets the tau pathology associated with Alzheimer's disease.”

Speakers included scientists from Aventis, Novartis and Pfizer, Inc., as well as Harvard University, University of California at Irvine, Northwestern University, and the Buck and Nathan Kline Institutes.

Dr. Davies is the Judith and Burton P. Resnick Professor of Alzheimer’s Disease Research at the Albert Einstein College of Medicine, in the Bronx. Last December, Dr. Davies received a prestigious MERIT (Method to Extend Research in Time) Award from the National Institutes of Health (NIH), expected to be worth in excess of $2 million over the next 10 years, which he is using to develop diagnostic and therapeutic tools to combat Alzheimer's disease.

Applied NeuroSolutions is developing products to diagnose and treat Alzheimer’s disease based on a novel theory of AD cause and pathology. In partnership with Dr. Davies’ scientific team at Albert Einstein College of Medicine, Applied NeuroSolutions is developing a cerebrospinal fluid (CSF) test to detect Alzheimer's disease at a very early stage with 85%-95% accuracy. The company is also developing a serum-based screening test for AD, as well a new class of therapeutics to treat AD.

There are currently no FDA-approved diagnostics for Alzheimer’s disease.

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 risks associated with new product development and commercialization, clinical trials, intellectual property, regulatory approvals, potential competitive offerings, and access to capital. 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.

Applied NeuroSolutions is developing products to diagnose and treat Alzheimer’s disease based on a novel theory of AD cause and pathology. In partnership with Dr. Peter Davies’ scientific team at Albert Einstein College of Medicine, Applied NeuroSolutions is developing a cerebrospinal fluid (CSF) test to detect Alzheimer's disease at a very early stage with 85%-95% accuracy. The company is also developing a serum-based screening test for AD, as well a new class of therapeutics to treat AD.

There are currently no FDA-approved diagnostics for Alzheimer’s disease.

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 risks associated with new product development and commercialization, clinical trials, intellectual property, regulatory approvals, potential competitive offerings, and access to capital. 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.