PT-141 is a peptide analog of the neuropeptide hormone a-MSH (a-melanocyte-stimulating hormone). Scientists have determined that receptors for this class of molecules (melanocortin receptors) play a role in several behaviors including appetite and sexual arousal. Recent findings indicate the effects on sexual function may be stimulated through melanocortin receptors in the brain. As a result, Palatin believes PT-141 has the potential to offer a unique treatment for both male and female sexual dysfunction.

Palatin Technologies, Inc. is a development-stage biopharmaceutical company. The company is currently conducting clinical investigations with its lead drug, PT-141, for the treatment of erectile dysfunction, and is developing additional therapeutic compounds discovered using its enabling peptide platform technology, MIDAS. Additionally, Palatin is developing a product for infection imaging, LeuTech(TM), based on a proprietary radiolabeled monoclonal antibody. For further information visit the Palatin web site at www.palatin.com.

Statements about the Companys future expectations, including development and regulatory plans, and all other statements in this document other than historical facts, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby.

Palatins actual results may differ materially from its historical results of operations and those discussed in the forward-looking statements f
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Contact: Joan Kureczka
JKureczka@aol.com
415-821-2413
Kureczka/Martin Associates
26-Oct-2001