EpiCept Corporation Announces Substantial Debt Reduction

TARRYTOWN, N.Y.--(BUSINESS WIRE)--Regulatory News: EpiCept Corporation (Nasdaq and OMX Nordic Exchange: EPCT) announced today that as a result of the recent conversion of approximately $1.9 million of its senior secured debt into its common stock and scheduled loan payments, the outstanding principal balance of its senior secured debt has been almost completely repaid. The Company reported outstanding senior secured debt at September 30, 2008 of $2.8 million. The remaining nominal balance of the Company’s senior secured loan will be repaid, together with any remaining fees, by the due date of April 1, 2009 or earlier.

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