AAIPHARMA FILES CHAPTER 11 PLAN OF REORGANIZATION

AAIPharma Inc. (PINK SHEETS:AAIIQ.PK) announced today that the Company and its domestic subsidiaries filed a Plan of Reorganization and corresponding Disclosure Statement with the United States Bankruptcy Court for the District of Delaware. The chapter 11 plan that the company has filed is the product of extensive negotiations among the Company, the Official Committee of Unsecured Creditors and the advisors to an Ad Hoc Committee of the Company's Secured Noteholders.

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