Cephalon, Inc. Quarterly Conference Call Invitation First Quarter 2008 Earnings Conference Call Thursday, May 1, 2008, 5:00 p.m. U.S. EDT

Investors can listen to the call live by logging on to the company's website at http://www.cephalon.com and clicking on "Investor Information," then "Webcast." Please click on the link and follow the prompts for registration and access.

If you are unable to listen to the live broadcast, an audio or webcast replay of the call will be available approximately two hours after the event until Midnight EDT, May 14, 2008. To listen to the audio replay, dial 719-457-0820 and use the Conference Code Number 7561641.

Additional information presented on the conference call may be made available on the Investor Information page of the company's website.

CONTACT: Robert S. (Chip) Merritt of Cephalon, Inc., +1-610-738-6376,
cmerritt@cephalon.com

Web site: http://www.cephalon.com/

Company News On-Call: http://www.prnewswire.com/comp/134563.html/

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