NEOSE ANNOUNCES RESTRUCTURING OF OPERATIONS; PROVIDES UPDATE ON CORPORATE OBJECTIVES

Neose Technologies, Inc. (Nasdaq: NTEC) today announced that it has implemented a restructuring of operations and updated its key operational objectives. The restructuring has been implemented to enable an enhanced focus by the Company on next-generation proteins, to allow for the anticipated transfer of production of proteins and reagents to its collaborative partners and contract manufacturers now that its programs are more mature, and to reduce cash burn.

Forbes (http://www.forbes.com/prnewswire/feeds/prnewswire/2005/08/04/prnewswire200508041605PR_NEWS_B_NET_PH_PHTH046.html)