XECHEM Announces Receipt Of Proceeds Of $1,150,000 From Sale Of Notes: Will Accelerate Paclitaxel Development Program

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XECHEM Announces Receipt Of Proceeds Of $1,150,000 From Sale Of Notes:

Will Accelerate Paclitaxel Development Program

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XECHEM Announces Receipt Of Proceeds Of $1,150,000 From Sale Of Notes:

Will Accelerate Paclitaxel Development Program

NEW BRUNSWICK, NEW JERSEY, May. 28 -/E-Wire/-- Xechem International, Inc. (OTC BB: ZKEM) announced that it has closed the sale through a private placement of Unsecured Convertible Notes (the "Notes") in the aggregate principal amount of $1,150,000 (One Million One Hundred Fifty Thousand Dollars) from a group of accredited investors. The Notes mature two years from their issuance and bear simple interest at the rate of 8% per annum. The Notes are convertible into the Company's Common Stock at a future date. The Company also issued warrants (the "Warrants") to the investor group, if exercised the company will realize additional proceeds.

According to Xechem's President & CEO, Dr. Ramesh Pandey, "We are gratified that these investors have recognized the potential of our paclitaxel and other difficult to replicate biopharmaceutical compounds. This new round of financing coupled with cash infusion from, inter alia, State of New Jersey Net Operating Losses (NOL) will greatly accelerate Xechem's paclitaxel approval process and that of other of its programs. We look forward to attracting other institutional investors and corporate partners to our various programs."

Xechem International, Inc., headquartered in New Brunswick, NJ, with subsidiary companies in the USA, India, Nigeria and joint venture partners in both Hong Kong and the Peoples Republic of China, is a biopharmaceutical company of which Xechem, Inc. (a US subsidiary) is engaged in the research, development and production of generic and proprietary drugs from natural sources, specializing in the development of niche-generic, difficult to replicate anticancer, antiviral, including Human Immuno-deficiency Virus (HIV) and antifungal compounds. Xechem is also engaged in the research and development of several novel anti-infectives showing strong and selective efficacy against an array of antibiotic resistant bacterias, including Helicobacter pylori (H. pylori), Vancomycin resistant Enterococcus faecalis (VREF), Methicillin resistant Staphylococcus aureus (MRSA), and other antibiotic resistant Staphylococcus aureus and Candida albicans. The Company also screens extracts and pure compounds from various parts of the world for their therapeutic use.

XetaPharm (another U.S. subsidiary) develops quality controlled nutritional products such as GinkgoOnceÂ®, GinsengOnceÂ®, GarlicOnceÂ®, Gugulonâ¢, VIDA PRASâ¢ and numerous other nutraceutical products, which are under development. This and past press releases of Xechem International, Inc. are available at Xechem's web site at www.xechem.com.

For further information, contact John P. Luther, Esq., Vice President & General Counsel, at (732) 247 - 3300.

This news release may contain certain forward-looking statements relating to Xechem's future business performance within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by safe harbors created hereby. Such forward-looking statements involve known and unknown risks, uncertainties, including the ability of the Companies to successfully develop and commercialize their technologies, and other factors that may cause the actual results, performance or achievements of the Companies to be materially different from any future results, performance or achievements of the Companies expressed or implied by such forward-looking statements.

Xechem International, Inc.

John P. Luther, Esq.,

Vice President & General Counsel;

http://http://www.xechem.com

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