Anavex Life Sciences Corp. Announces Appointment of Oncology Specialist to Board of Directors, Changes to Executive Management

ATHENS, Greece, May 21, 2008 (PRIME NEWSWIRE) -- Anavex Life Sciences Corp. (“ANAVEX”) (OTCBB:AVXL) today announced the appointment of Alison Ayers to its Board of Directors. Ms. Ayers is currently the Worldwide Commercial Head for Oncology at Pfizer (NYSE:PFE), with responsibility for Pfizer’s oncology portfolio, which includes more than 20 drug candidates in clinical development, as well as lifecycle optimization for their leading oncology treatments including Sutent. In addition, she is a member of the leadership team that develops Pfizer’s oncology strategic plan and which manages the portfolio, including asset prioritization, development planning, strategic and investment decisions including licensing and acquisitions. She is also responsible for the commercial strategy for Pfizer’s oncology department, which had sales of over $2 billion in 2007.

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