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ACCESS PHARMACEUTICALS INITIATES FINANCING ARRANGEMENT

August 22, 2005

Access Pharmaceuticals Inc. on Wednesday said that it is in talks with potential buyers to sell business units that are not part of the company's long-term strategy. The Dallas-based pharmaceuticals company said the sale of these units could generate enough cash to provide satisfactory debt coverage and cash flow needs in the near future. In addition, the company is in discussions with investors and investment firms to renegotiate the length and terms of its convertible debenture obligations in an attempt to provide for its intermediate cash flow needs.

Dallas Business Journal (http://dallas.bizjournals.com/dallas/stories/2005/08/15/daily24.html)