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Neurobiological Technologies, Inc. (NTII) Announces Extraordinary Dividend of $0.18 per Share Company also Announces Timing and Plans to Voluntarily Delist from the Nasdaq Capital Market and Initiate Dissolution Process


11/23/2009 9:52:26 AM

EMERYVILLE, Calif., Nov. 23 /PRNewswire-FirstCall/ -- Neurobiological Technologies, Inc. ("NTI") announced today that its board of directors has declared an extraordinary dividend of $0.18 per share of common stock, which will be paid on December 9, 2009 to stockholders of record as of November 30, 2009. The December 9, 2009 extraordinary dividend follows stockholder approval of the dissolution of NTI pursuant to a plan of complete liquidation and dissolution and an earlier extraordinary dividend of $0.75 per share that was paid to shareholders on November 18, 2009. The dividend of $0.18 per share was declared by the board of directors following the Company's recent sale of auction rate securities as disclosed in the Quarterly Report on Form 10-Q filed with the SEC on November 16, 2009.

A detailed description of the dissolution process is contained in the definitive proxy statement filed with the SEC on September 22, 2009, a copy of which can be viewed on the SEC's website at www.sec.gov.

Neurobiological Technologies, Inc. is a biopharmaceutical company historically focused on developing investigational drugs for central nervous system conditions.

Neurobiological Technologies, Inc.




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