Neurobiological Technologies to Report Fourth Quarter and Fiscal Year Financial Results and Host Conference Call On August 19, 2004

RICHMOND, Calif., Aug. 16 /PRNewswire-FirstCall/ -- Neurobiological Technologies, Inc. (NTI(R)) announced today it will release its fourth quarter and fiscal year financial results on August 19, 2004. The company also said that Paul E. Freiman, President and Chief Executive Officer, will host an investor conference call that same day to review the company's financial results and operations. The details for the call are as follows:

Live Call: -- Date: Thursday, August 19, 2004 -- Time: 10:30 a.m. EDT, 7:30 a.m. PDT -- Dial-in number: 1-888-208-1812 Webcast of Call: -- A live webcast can be accessed online by going to: http://www.shareholder.com/ntii/medialist.aspx -- The call will be archived and accessible at the same website for one year Telephonic Replay: -- A playback of the conference call will be available from 1:30 p.m. EDT through 11:59 PM EDT Thursday, August 26th -- Replay number: 1-888-203-1112 (U.S. and Canada) & 1-719-457-0820 (International) -- Replay access code: 964972 Neurobiological Technologies, Inc.

NTI is an emerging drug development company focused on the clinical evaluation and regulatory approval of neuroscience drugs. The Company's strategy is to in-license and develop early- and later-stage drug candidates that target major medical needs and which can be rapidly commercialized. The Company's experienced management team oversees the human clinical trials necessary to establish preliminary evidence of efficacy and seeks partnerships with pharmaceutical and biotechnology companies to complete development and marketing of its product candidates.

Neurobiological Technologies, Inc.

CONTACT: Paul E. Freiman, President & CEO of NeurobiologicalTechnologies, Inc., +1-510-262-1730; or Roger Pondel, or Rob Whetstone, bothof PondelWilkinson Inc., +1-310-279-5980

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