Aeolus Pharmaceuticals New Name and Trading Symbol Effective Today
Friday July 16, 8:12 am ET

RESEARCH TRIANGLE PARK, N.C., July 16 /PRNewswire-FirstCall/ -- Aeolus Pharmaceuticals, Inc. (OTC Bulletin Board: AOLS - News) stated this morning that its recently announced name change from Incara Pharmaceuticals Corporation to Aeolus Pharmaceuticals, Inc. becomes effective today. As a result of the name change, Aeolus' stock trading symbol has changed from ICRA to AOLS. The common stock will continue to trade on the OTC Bulletin Board. In June, the company announced a 1-for-10 reverse stock split, the record date for which was the close of business on July 15, 2004. The company's common stock begins trading on a split-adjusted basis as of today, which is the effective date for the reverse split.

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Aeolus ( http://www.aeoluspharma.com ) is developing a new class of small molecule catalytic antioxidants that destroy oxygen-derived free radicals, believed to be an important contributor to the pathogenesis of many diseases. Aeolus' catalytic antioxidants have been shown to reduce damage to tissue in animal studies of ALS, stroke, cancer and chronic obstructive pulmonary disease.

Aeolus has filed an Investigational New Drug (IND) application with the FDA for its lead clinical compound, AEOL 10150. An IND is the first stage necessary to begin human clinical studies of compounds. The initial Phase 1 clinical trial will be for the possible treatment of amyotrophic lateral sclerosis (also known as ALS or Lou Gehrig's disease). ALS, the most common motor neuron disease, results from progressive degeneration of both upper and lower motor neurons and is usually fatal within 5 years.

The statements in this press release that are not purely statements of historical fact are forward-looking statements, and actual results might differ materially from those anticipated. These statements and other statements made elsewhere by Aeolus or its representatives, which are identified or qualified by words such as "intends," "likely," "will," "suggests," "expects," "might," "may," "believe," "could," "should," "would," "anticipates," "plans," "possible" or the negative of those terms or similar expressions, are based on a number of assumptions that are subject to risks and uncertainties. Important factors that could cause results to differ include risks associated with the uncertainties of scientific research, clinical trials and product development activities and the need to obtain funds for clinical trials and operations. These and other important risks are described in Aeolus' reports on Form 10-K, Form 10-Q and Form 8-K and its registration statements filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Aeolus assumes no obligation to update the information in this release.

Source: Aeolus Pharmaceuticals, Inc.