PRANA Biotechnology to Present at New York Academy of Sciences Symposium on November 29th

MELBOURNE, AUSTRALIA--(Marketwire - November 20, 2012) - Prana Biotechnology (NASDAQ: PRAN) (ASX: PBT) today announced that the New York Academy of Science is hosting a symposium on November 29th titled "Targeting Metals in Alzheimer's and Other Neurodegenerative Diseases." Dr. Rudy Tanzi, the Joseph P. and Rose F. Kennedy Professor of Neurology at Harvard University and Prana's Chief Scientific Advisor, and Dr. Robert Cherny, Prana's Head of Research, will take part in the symposium. The presentations will explore the causative events leading to the neuropathology that drives Alzheimer's disease, Parkinson's disease and Huntington disease. This symposium will examine how these findings led to the discovery of small molecules designed to restore the balance of transition metals in the brain that are critical for neuronal function, reduce the accumulation of aggregated target proteins, and could have a disease-modifying effect. A review of Prana's PBT2 clinical history will be presented.

Dr. Tanzi said, "Researchers are increasingly focusing on the role of metals in neurodegenerative disease, providing data that promotes optimism for the outcome of Prana's trials. As we learn more about the genetics of Alzheimer's disease it appears that the disease is triggered by the excessive accumulation of the amyloid beta protein in the brain. Prana's therapeutic strategy for treating neurodegenerative disease involves a very different mechanism of action than that of other anti-beta-amyloid drugs, which have largely failed."

The symposium is presented by the Brain Dysfunction Discussion Group at the New York Academy of Sciences and is free for Academy members. Both members and non-members can register to attend the symposium or tune in via the live webinar at www.nyas.org/MetalsandAD (register free from Monday 26 Nov). Media should RSVP to Diana Friedman at dfriedman@nyas.org.

ASIC Granted Postponement of AGM until 12th December 2012

In accordance with Section 250P of the Corporation Act of 2001, Prana has been granted Australian Securities and Investment Commission (ASIC) approval to hold the 2012 Annual General Meeting on December 12, 2012 in order to enable Geoffrey Kempler, Chairman of Prana, to participate in the New York Academy of Science meeting on November 29th to discuss Prana and its scientific research.

About Prana Biotechnology Limited
Prana Biotechnology was established to commercialize research into age-related neurodegenerative disorders. The Company was incorporated in 1997 and listed on the Australian Securities Exchange in March 2000 and listed on NASDAQ in September 2002. Researchers at prominent international institutions including The University of Melbourne, The Mental Health Research Institute (Melbourne) and Massachusetts General Hospital, a teaching hospital of Harvard Medical School, contributed to the discovery of Prana's technology.

For further information please visit the Company's web site at www.pranabio.com.

About the New York Academy of Sciences
The New York Academy of Sciences is an independent, not-for-profit organization committed to advancing science, technology, and society worldwide since 1817. With 25,000 members in 140 countries, the Academy is creating a global community of science for the benefit of humanity. The Academy's core mission is to advance scientific knowledge, positively impact the major global challenges of society with science-based solutions, and increase the number of scientifically informed individuals in society at large. Visit www.nyas.org for more information on the Academy.

Forward Looking Statements

This press release contains "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934. The Company has tried to identify such forward-looking statements by use of such words as "expects," "intends," "hopes," "anticipates," "believes," "could," "may," "evidences" and "estimates," and other similar expressions, but these words are not the exclusive means of identifying such statements. Such statements include, but are not limited to any statements relating to the Company's drug development program, including, but not limited to the initiation, progress and outcomes of clinical trials of the Company's drug development program, including, but not limited to, PBT2, and any other statements that are not historical facts. Such statements involve risks and uncertainties, including, but not limited to, those risks and uncertainties relating to the difficulties or delays in financing, development, testing, regulatory approval, production and marketing of the Company's drug components, including, but not limited to, PBT2, the ability of the Company to procure additional future sources of financing, unexpected adverse side effects or inadequate therapeutic efficacy of the Company's drug compounds, including, but not limited to, PBT2, that could slow or prevent products coming to market, the uncertainty of patent protection for the Company's intellectual property or trade secrets, including, but not limited to, the intellectual property relating to PBT2, and other risks detailed from time to time in the filings the Company makes with Securities and Exchange Commission including its annual reports on Form 20-F and its reports on Form 6-K. Such statements are based on management's current expectations, but actual results may differ materially due to various factions including those risks and uncertainties mentioned or referred to in this press release. Accordingly, you should not rely on those forward-looking statements as a prediction of actual future results.