Special Meeting of EpiCept Corporation Stockholders to Be Held on April 6, 2007

TARRYTOWN, N.Y., March 5 /PRNewswire-FirstCall/ -- EpiCept Corporation today announced that a special meeting of stockholders will be held on April 6, 2007 at 10:00 a.m. Eastern time at the offices of Weil, Gotshal & Manges LLP, at 767 Fifth Avenue, New York, New York.

(Logo: http://www.newscom.com/cgi-bin/prnh/20020513/NYM112LOGO )

The purpose of the meeting is to approve the sale and issuance in a private placement to certain investors, of 6,883,565 shares of EpiCept's common stock at a price of $1.46 per share, and warrants to purchase up to an additional 3,441,786 shares of EpiCept's common stock at an exercise price of $1.47 per share, in exchange for aggregate gross proceeds paid to the Company of $10 million (excluding any proceeds that may be received upon exercise of the warrants); and approval of the Standby Equity Distribution Agreement with Cornell Capital Partners, L.P., in which EpiCept may, from time to time issue a number of shares to be determined by the Company (up to 19.9 percent of EpiCept's common stock) at a discount to the then current market price pursuant to a Standby Equity Distribution Agreement with Cornell Capital Partners, L.P., in exchange for aggregate gross proceeds payable to the Company of up to $15 million.

On December 21, 2006, the Company entered into a Purchase Agreement with certain Purchasers that provides for the sale of EpiCept's common stock and warrants to purchase EpiCept's common stock to the Purchasers for gross proceeds to the Company of approximately $10 million. Pursuant to the terms of the Purchase Agreement, the Company issued to the Purchasers, (i) an aggregate of 6,883,565 shares of the Company's common stock at a purchase price per share equal to $1.46, and (ii) warrants to purchase an aggregate of 3,441,786 shares of the Company's common stock (subject to adjustment to accordance with the terms thereof) at an exercise price of $1.47 per share. EpiCept simultaneously entered into a Standby Equity Distribution Agreement pursuant to which the Company may from time to time issue up to 19.9 percent of its common stock at a discount to the then current market price, in exchange for aggregate gross proceeds to the company in an amount up to $15 million.

Following the Transactions, Nasdaq -- the primary market on which EpiCept's shares are listed -- determined that the Company was non-compliant with Nasdaq Marketplace Rule 4350 for issuances of 20 percent or more of the outstanding common stock or voting power of the Company at below market prices. A Nasdaq Panel conditioned continued listing on the Nasdaq Marketplace with the Company regaining compliance with Rule 4350, and therefore gaining stockholder approval of the Transactions.

The Board of Directors of EpiCept has recommended that shareholders vote in favor of the proposal. If shareholders do not approve the Transactions, the Company will be delisted from the Nasdaq Capital Market, and may therefore be unable to obtain future equity financing that it believes is essential to its future operations and success.

Except for those shares issued pursuant to the Transactions, only shareholders of record on February 28, 2007, the record date for the special meeting will be entitled to notice of, and to vote at, the special meeting. Shareholders are invited to attend the meeting in person or to vote by internet or by the form of proxy mailed to shareholders.

About EpiCept Corporation

EpiCept is focused on unmet needs in the treatment of pain and cancer. EpiCept has a staged portfolio of pharmaceutical product candidates with several pain therapies in late-stage clinical trials, and a lead oncology compound (for acute myeloid leukemia, or AML) with demonstrated efficacy in a Phase III trial; a marketing authorization application for this compound has been submitted in Europe. EpiCept is based in Tarrytown, N.Y., and its research and development team in San Diego is pursuing a drug discovery program focused on novel approaches to apoptosis.

Forward-Looking Statements

This news release and any oral statements made with respect to the information contained in this news release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements which express plans, anticipation, intent, contingency, goals, targets, future development and are otherwise not statements of historical fact. These statements are based on EpiCept's current expectations and are subject to risks and uncertainties that could cause actual results or developments to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Factors that may cause actual results or developments to differ materially include: the risk that Ceplene will not receive regulatory approval or marketing authorization in the EU, the risk that our other product candidates that appeared promising in early research and clinical trials do not demonstrate safety and/or efficacy in larger-scale or later stage clinical trials, the risk that EpiCept will not obtain approval to market any of its product candidates, the risks associated with reliance on additional outside financing to meet its capital requirements, the risks associated with reliance on collaborative partners and others for further clinical trials, development, manufacturing and commercialization of our product candidates; the cost, delays and uncertainties associated with our scientific research, product development, clinical trials and regulatory approval process; our history of operating losses since our inception; competition; litigation; risks associated with our ability to maintain our listing on The Nasdaq Capital Market and our ability to receive stockholder approval for the Private Placement and SEDA; risks associated with our ability to have our common stock readmitted to trading on The Nasdaq Global Market; risks associated with the material weaknesses in our internal controls and the outcome of our SOX 404 audit; and risks associated with our ability to protect our intellectual property. These factors and other material risks are more fully discussed in EpiCept's periodic reports, including its reports on Forms 8-K, 10-Q and 10-K and other filings with the U.S. Securities and Exchange Commission. You are urged to carefully review and consider the disclosures found in EpiCept's filings, which are available at www.sec.gov or at www.epicept.com. You are cautioned not to place undue reliance on any forward- looking statements, any of which could turn out to be wrong due to inaccurate assumptions, unknown risks or uncertainties or other risk factors.

EPCT-GEN

CONTACT: Robert W. Cook of EpiCept Corporation, +1-914-606-3572,rcook@epicept.com; or Investors, Kim Sutton Golodetz, +1-212-838-3777,kgolodetz@lhai.com, or Bruce Voss, +1-310-691-7100, bvoss@lhai.com, both ofLippert/Heilshorn & Associates; or Media, Francesca T. DeVellis ofFeinstein Kean Healthcare, +1-617-577-8110,francesca.devellis@fkhealth.com, all for EpiCept Corporation

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