Vernon Hills, IL September 8, 2008 – Applied NeuroSolutions, Inc. (OTC BB:APNS, www.AppliedNeuroSolutions.com), a biotechnology company focused on the development of products for the early diagnosis and treatment of Alzheimer’s disease (“AD”), today announced it has engaged William Blair & Company, LLC in connection with the Company’s ongoing process to explore strategic alternatives to enhance shareholder value.

As APNS’s advisor, William Blair & Company’s primary role will be to assist the Company’s management team in conducting a thorough review of possible strategic alternatives.  As part of this process, William Blair & Company will work with management to identify and develop additional opportunities to strengthen APNS’s competitive position and advance its AD diagnostic programs by identifying and assessing potential strategic partners and other interested parties.

Concurrent with this strategic effort and its therapeutic research development collaboration with Eli Lilly and Company, Applied NeuroSolutions is focusing on the advancement of its serum and CSF diagnostic programs.  Significant program milestones have been achieved throughout 2008 and APNS is on target to determine feasibility of serum-based diagnostic tests for Alzheimer’s disease by year-end.

About Applied NeuroSolutions:

Applied NeuroSolutions, Inc. (OTC BB:APNS - News) is developing diagnostics and therapeutics to detect and treat Alzheimer's disease (AD) building on discoveries originating from the Albert Einstein College of Medicine.  Applied NeuroSolutions is in a collaboration with Eli Lilly and Company to develop novel therapeutic compounds to treat the progression of AD.  For its diagnostic pipeline, Applied NeuroSolutions is focused on both cerebrospinal fluid (CSF) and serum tests to detect AD at a very early stage.  The P-Tau 231 test now being offered for use in clinical trials can effectively differentiate AD patients from those with other neurological diseases that have similar symptoms. There is currently no FDA approved diagnostic test to detect AD. Alzheimer's disease currently afflicts over five million Americans, and the world market for AD therapy is currently estimated to be 30 million patients.  For more information, visit www.AppliedNeuroSolutions.com

This press release contains forward-looking statements about Applied NeuroSolutions. The company 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.

Contact:
Applied NeuroSolutions 847-573-8000
Ellen Hoffing, President, CEO
David Ellison, CFO