Source: Palatin Technologies Press Release
Date: 8 January 2004

Palatin Technologies, Inc. to Sponsor "Role of Novel Mechanisms in the
Treatment of Sexual Dysfunction and and Palatin's PT-141 Drug Candidate"

CRANBURY, NJ -January 7, 2004 -Palatin Technologies, Inc. (AMEX: PTN)
announced today that it will sponsor a presentation on the "Role of
Novel Mechanisms in the Treatment of Sexual Dysfunction and Palatin's
PT-141 Drug Candidate", taking place on January 8, 2004 in New York
City. The presentation will begin at 12:00 noon EST and individuals who
are not registered to attend can access the presentation via
Teleconference/Webcast.

Carl Spana, Ph.D., President and Chief Executive Officer of Palatin,
will be moderating the forum which will include presentations on the
scientific rationale for centrally-acting agents in the treatment of
sexual dysfunction, clinical experience and future clinical development
plans for PT-141, Palatin's lead drug candidate under development for
male and female sexual dysfunction, and an assessment of the sexual
dysfunction market and competitive positioning of Palatin's PT-141. The
presentation will include an overview of Palatin's recently released
positive Phase 2B "at home" study results which demonstrated that men
with erectile dysfunction taking the intranasally administered drug
PT-141 reported consistently improved erectile function across all
dosing levels.

The following individuals will present at this meeting:

        * Fran‡ois Giuliano, M.D., Ph.D., who is a Urologist associated
          with the Medical University of Paris South and head of the
          Male Sexual Dysfunction Program at the Academic Hospital of
          Bicˆtre in France, will present the scientific rationale for
          centrally-acting agents in the treatment of sexual
          dysfunction. Dr. Giuliano is internationally recognized for
          his expertise in the experimental approach to the
          neurophysiology of penile erection and serves on the executive
          committee of the European Society for Impotence Research.

        * Harin Padma-Nathan, M.D., FACS, FRCS(C), Clinical Professor of
          Urology at the University of Southern California and director
          of the Male Clinic in Beverly Hills, will provide an overview
          of the clinical experience and positive results obtained from
          Palatin's Phase 2B "at home" study of PT-141 for male sexual
          dysfunction. Dr. Padma-Nathan's research and clinical practice
          are focused on pharmacotherapy for sexual dysfunction.

        * Perry Molinoff, M.D., Chairman of Palatin's Clinical Advisory
          Board and Vice Provost for Research and A.N. Richards
          Professor of Pharmacology, Emeritus at the University of
          Pennsylvania, will present Palatin's future clinical
          development program for PT-141. Marc Kozin, President, of
          L.E.K. Consulting, will present an assessment of the sexual
          dysfunction market and the competitive positioning of PT-141.

Teleconference & Webcast Access Information

Thursday, January 8, 2004, 12:00-2:30 PM EST

Listen via Internet:

- To listen to the live presentation, please go to the Web at least 15
  minutes prior to the start of the call to register and download and
  install any necessary audio software.

- To listen to the presentation over the Internet, access the webcast
  link at the company website, www.palatin.com.

Listen to Live Presentation via Telephone:

- To listen by phone, please call ten minutes prior to the presentation
  start time (12:00 PM EST):

U.S. Callers: 1-800-915-4836

International Callers: 1-973-317-5319

- Advise the Operator that you are calling for the Palatin Technologies
  Teleconference


Replay of Presentation by Phone:

- A replay of the presentation will be available beginning 4:30 PM EST
  on January 8, 2004 through 12:00 PM on January 15, 2004.

- To access the replay by phone:

U.S. Callers: 1-800-428-6051

International Callers: 1-973-709-2089

Enter the pass code ID # 326369


About PT-141

PT-141 is the first of a new class of drugs called melanocortin agonists
being developed to treat sexual dysfunction. The mechanism of action of
PT-141 may offer significant safety and efficacy benefits over currently
available products because it acts on the pathway that controls sexual
function without acting directly on the vascular system. Clinical data
indicates that PT-141 may be effective in treating a broad range of
patients suffering from ED. The nasal formulation of PT-141 being
developed is as convenient as oral treatments, is more patient-friendly
than invasive treatments for ED, such as injections and trans-urethral
pellets, and appears to result in a rapid onset of action.

About Erectile Dysfunction (ED)

ED is defined as the consistent inability to attain and maintain an
erection sufficient for sexual intercourse. The condition is correlated
with increasing age, cardiovascular disease, hypertension, diabetes,
hyperlipidemia and smoking. In addition, certain prescription drugs and
psychogenic issues may contribute to ED. It is estimated that some
degree of ED affects one half of all men over the age of 40 and that 150
million men worldwide suffer from ED.

About Palatin Technologies, Inc.

Palatin Technologies, Inc. (AMEX: PTN) is a biopharmaceutical company
focused on discovering and developing melanocortin-based (MCR)
therapeutics. The company is currently conducting clinical
investigations with its lead drug PT-141, a MCR agonist, for the
treatment of male and female sexual dysfunction. Palatin is also
developing a product for infection imaging, LeuTechƒ, based on a
proprietary radiolabeled monoclonal antibody. Palatin's patented drug
discovery platform, MIDASTM, streamlines the drug design process with an
efficient approach to identify lead compounds from protein targets for
drugs. For further information, visit the Palatin web site at
www.palatin.com.

Statements about the Company's future expectations, including
development and regulatory plans, and all other statements in this
document other than historical facts, are "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, Section
21E of the Securities Exchange Act of 1934 and as that term is defined
in the Private Securities Litigation Reform Act of 1995. The Company
intends that such forward-looking statements be subject to the safe
harbors created thereby. Palatin's actual results may differ materially
from its historical results of operations and those discussed in the
forward-looking statements for various reasons, including, but not
limited to the Company's ability to carry out its business plan,
successful development and commercial acceptance of its products,
ability to fund development of technology, the risk that products may
not result from development activities, protection of its intellectual
property, ability to establish and successfully complete clinical trials
for product approval, need for regulatory approvals, dependence on its
partners for development of certain projects, and other factors
discussed in the Company's periodic filings with the Securities and
Exchange Commission. The Company is not responsible for events not
updated after the date on this press release.

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