COR Cortex Pharmaceuticals,

Cortex Pharmaceuticals, Inc. (AMEX: COR, http://www.cortexpharm.com) Chairman, President and CEO, Roger G. Stoll, PhD, will speak at the Bank of Montreal�s Focus on Healthcare Conference taking place August 5-6, 2008, at the Millennium Broadway Hotel in New York City. Dr. Stoll will present in Room #4 on Wednesday, August 6th at 9:30 AM (EDT). He will discuss the initial top line results from the first of two studies in normal volunteers to evaluate the use of AMPAKINE� CX717 to prevent opiate-induced respiratory depression. The study, CX717- RD-02, was performed at a clinical research unit in Berlin, Germany. A second respiratory depression study, CX717-RD-01, began enrollment several weeks after the Berlin study. The clinical phase of that study has been completed and data management and analysis is currently underway. The top line results from that study will be provided at a later date. Dr. Stoll will also provide an update on other compounds in Cortex�s AMPAKINE� platform that are currently being prepared for human testing. The updates will provide the current status of developments for CX1739, CX1942, and CX1837. The conference presentation will be webcast and available for a period of thirty days after the conference by logging on to:http://www.bmocm.com/conferences/2008healthcare/default.aspx. Cortex Pharmaceuticals, Inc. Cortex, located in Irvine, California, is a neuroscience company focused on novel drug therapies for treating psychiatric disorders, neurological diseases and brain mediated breathing disorders. Cortex is pioneering a class of proprietary pharmaceuticals called AMPAKINE compounds, which act to increase the strength of signals at connections between brain cells. The loss of these connections is thought to be responsible for memory and behavior problems in Alzheimer�s disease. Many psychiatric diseases, including schizophrenia, occur as a result of imbalances in the brain�s neurotransmitter system. These imbalances may be improved by using the AMPAKINE technology. Cortex has an alliance with Schering-Plough Corporation who acquired Cortex�s former partner N.V. Organon in November 2007. As a result of this acquisition, Schering-Plough has two AMPAKINE Phase II compounds Org24448 and Org 26576 for the treatment of schizophrenia and depression. In December 2006 Cortex terminated the research collaboration with Servier enabling Cortex to pursue the use of AMPAKINE compounds in the treatment of neurodegenerative diseases on a global basis. Servier retained the right to select up to three compounds developed during the collaboration for further development for the treatment of neurodegenerative diseases. Cortex may receive additional milestones and royalties if either Organon or Servier is successful in developing and commercializing AMPAKINE compounds. For additional information regarding Cortex, please visit Cortex Pharmaceuticals� website at http://www.cortexpharm.com. Forward-Looking Statement Note - This press release contains forward-looking statements concerning the Company�s research and development activities. The success of such activities depends on a number of factors, including the risks that the Company�s proposed compounds may at any time be found to be unsafe or ineffective for the indications under pre-clinical or clinical tests and that such studies may at any point be suspended or take substantially longer than anticipated to complete. The forward-looking statements are necessarily subject to risks and uncertainties, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Cortex, all as more fully described in the risk factors and other matters set forth in Cortex�s Annual Report on Form 10-K for the year ended December 31, 2007, and Cortex�s other filings with the Securities and Exchange Commission, As discussed in the Company�s Securities and Exchange Commission filings, the Company�s proposed products will require additional research, lengthy and costly clinical testing and regulatory approval. AMPAKINE compounds are investigational drugs and have not been approved for the treatment of any disease. Cortex disclaims any intent or obligation to update any forward-looking statements.