Advanced Viral Research Corp. Appoints Chief Financial Officer to its Management Team

Business Wire, Oct 12, 1999

YONKERS, N.Y.--(BUSINESS WIRE)--Oct. 12, 1999--

Advanced Viral Research Corp. (OTCBB:ADVR) Tuesday announced that Alan V. Gallantar has joined the company as the new chief financial officer.

Gallantar succeeds William Bregman who has functioned as the chief financial officer of the company.

Alan V. Gallantar, 41 years old, has extensive financial and management experience in the pharmaceutical industry. Gallantar comes to ADVR from AMBI where he was treasurer and controller of this NASDAQ-listed pharmaceutical company.

Previously, Gallantar served as senior vice president and chief financial officer of Bradley Pharmaceuticals Inc., a NASDAQ-listed company, and held a series of financial positions with PaineWebber Inc., The Chase Manhattan Bank, N.A., Philip Morris Inc. and Deloitte & Touche. Gallantar holds a BA degree from Queens College and is a Certified Public Accountant.

Commenting on this management addition, Shalom Z. Hirschman, M.D., president and chief executive officer, noted: "ADVR is building a capable senior management team to lead the growth of the company and bring its innovative products to market. We believe that Mr. Gallantar represents the new mold of CFO required for the growth of a forward looking company and we are pleased that Mr. Gallantar has joined us at this important time in our development."

NOTE: This news release contains forward-looking statements that involve risks associated with clinical development, regulatory approvals, including application to the FDA, product commercialization and other risks described from time to time in the SEC reports filed by ADVR. RETICULOSE is not approved by the U.S. Food and Drug Administration or any comparable agencies of any other countries.