NORTHVALE, N.J., March 3, 2008 (PRIME NEWSWIRE) -- Elite Pharmaceuticals, Inc. (AMEX:ELI), a leading drug delivery, specialty pharmaceutical company focused primarily on developing and commercializing proprietary abuse resistant, extended release pain compounds, today announced that Chris Dick, Executive Vice President of Corporate Development, will be presenting at Susquehanna Financial Group's "SIGnificant Options in Healthcare" conference held at the W Hotel, 541 Lexington Avenue at 49th Street in New York City. Mr. Dick's presentation is scheduled to begin at 3:00 p.m. Eastern Standard Time on Wednesday, March 5, 2008.

To access the live audio webcast for this conference, please log on to Elite's website at approximately 15 minutes prior to the presentation in order to register and download any necessary software. A replay of the audio presentation will be available following the event.

About Elite Pharmaceuticals, Inc.

Elite Pharmaceuticals is a specialty pharmaceutical company principally engaged in the development and manufacturing of oral controlled-release products. The Company's strategy includes developing generic versions of controlled release drug products with high barriers to entry and assisting partner companies in the life cycle management of products to improve off-patent drug products. Elite's technology is applicable to develop delayed, sustained or targeted release capsules or tablets. Elite has two products currently being sold commercially and a pipeline of seven drug products under development in the therapeutic areas that include pain management, allergy and infection. The addressable market for Elite's current pipeline of products exceeds $6 billion. Elite formed, together with VGS Pharma, LLC, Novel Laboratories, Inc., as a separate specialty pharmaceutical company for the research, development, manufacturing, licensing and acquisition of specialty generic pharmaceuticals. Elite operates a GMP and DEA registered facility for research, development, and manufacturing located in Northvale, NJ.

This news release contains forward-looking statements, including those related to the preliminary nature of the clinical program results and the potential for further product development, that involve known and unknown risks, delays, uncertainties and other factors not under the control of the Company, which may cause actual results, performance or achievements of the companies to be materially different from the results, performance or other expectations implied by these forward-looking statements. In particular, because substantial future testing will be required prior to approval, the results described above may not be supported by additional data or by the results of subsequent trials. These risks and other factors, including the timing or results of pending and future clinical trials, regulatory reviews and approvals by the Food and Drug Administration and other regulatory authorities, and intellectual property protections and defenses, are discussed in Elite's filings with the Securities and Exchange Commission such as the 10K, 10Q and 8K reports. The Company undertakes no obligation to update any forward-looking statements.

Elite Pharmaceuticals, Inc.
Investor Relations
Dianne Will

The Global Consulting Group
Investor Relations
Leslie Wolf-Creutzfeldt