AlphaRx Inc. Announces Letter of Intent with Select Therapeutics Inc. to Sub-license Cancer Therapeutic
Richmond Hill, Ontario, November 12, 2002 - AlphaRx Inc. (OTCBB: ALRX) is pleased to announce it has entered into a Letter of Intent (LOI) with Select Therapeutics Inc. (AMEX: XZL), for the exclusive, worldwide sub-license of VeroPulse(tm), a natural toxin, for use as a cancer therapeutic agent which can be targeted to kill malignant tumor cells and their blood supply. 

Scientists at a leading Canadian research institute have demonstrated the ability of VeroPulse(tm) to selectively target and kill tumors bearing a receptor specific for VeroPulse(tm). Most notably, VeroPulse(tm) has demonstrated enhanced potency if those tumnors are multiple drug resistant, making VeroPulse(tm) a very attractive candidate for clinical development in the cancer arena. 

AlphaRx intends to sub-license VeroPulse(tm) and plans to advance this technology into clinical trials. In addition, AlphaRx recognizes potential synergy of VeroPulse(tm) with the Company's own proprietary drug delivery technology. 

AlphaRx's C.E.O. Michael Lee states, "We look forward to formalizing this agreement with Select Therapeutics Inc. and to moving VeroPulse(tm) into clinical development at the earliest opportunity." 

FORWARD LOOKING STATEMENTS: 
This release contains forward-looking statements within the meaning and pursuant to the Safe Harbor provisions of the Securities Litigation Reform Act of 1995 and involve risks and uncertainties that may individually or mutually impact the matters herein described, including but not limited to product development and acceptance, manufacturing, competition, regulatory and/or other factors, which are outside the control of the Company.

Contacts: 
AlphaRx http://www.alpharx.com 
Brad Caister 
Tel: 905-762-0745 Ext. 238 

Econ Investor Relations 
Dawn Van Zant 1.888.368.8705 
dvanzant@investorideas.com