GenVec Named to Deloitte's Technology Fast 50 for Maryland

Business Wire, Oct 3, 2007

GAITHERSBURG, Md. -- GenVec, Inc. (Nasdaq: GNVC) has been named one of Maryland's fifty fastest growing technology, media, telecommunications and life science companies by Deloitte & Touche USA LLP, one of the nation's leading professional services organizations. Rankings in Deloitte's Technology Fast 50 Program are based on the percentage revenue growth over five years from 2002-2006. This year's Maryland Technology Fast 50 program is sponsored by WilmerHale, NASDAQ and SmartCEO.

"Maryland's Technology Fast 50 companies have shown the strength, vision and tenacity to succeed in today's very competitive technology environment," said Gary H. Tabach, Managing Partner of Deloitte's Greater Washington practice. "We applaud the successes of GenVec and acknowledge it as one of the very few to accomplish such a fast growth rate over the past five years."

Douglas J. Swirsky, GenVec's Chief Financial Officer attributes the company's revenue growth from 2002-2006 to increased demand for GenVec's technologies and expertise in adenovector design and production, and the company's success in expanding its scope of work on several current contracts. GenVec's multi-year, fully funded collaborations include the National Institute of Allergy and Infectious Diseases of the National Institutes of Health; the Naval Medical Research Center; the PATH Malaria Vaccine Initiative; the U.S. Department of Agriculture-Agricultural Research Service; and the U.S. Department of Homeland Security.

For the five-year period 2002-2006 GenVec's revenues increased 125%, ranking the company 37th in the Technology Fast 50 for Maryland.

"GenVec is honored to be recognized by Deloitte's Fast 50 Program. This award is a tribute to our outstanding employees whose energy and dedication have positioned our company among the leaders in this region," said Paul H. Fischer, GenVec's President and CEO.

To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2002 and $5,000,000 in 2006, be headquartered in Maryland, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology.

About GenVec

GenVec, Inc. is a biopharmaceutical company developing novel therapeutic drugs and vaccines. GenVec's lead product, TNFerade[TM] is currently in a pivotal clinical study (PACT) in locally advanced pancreatic cancer. Additional clinical trials are in progress in rectal cancer, head and neck cancer and melanoma. GenVec also uses its proprietary adenovector technology to develop vaccines for infectious diseases including HIV, malaria, foot-and-mouth disease, respiratory syncytial virus (RSV), and influenza. Additional information about GenVec is available at www.genvec.com and in the company's various filings with the Securities and Exchange Commission.

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte", "Deloitte & Touche", "Deloitte Touche Tohmatsu" or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.

Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services, LLP, Deloitte Tax LLP and their subsidiaries) and not by Deloitte & Touche USA LLP.

Statements herein relating to future financial or business performance, conditions or strategies and other financial and business matters, including expectations regarding future revenues and operating expenses, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. GenVec cautions that these forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, including the failure by GenVec to secure and maintain relationships with collaborators; risks relating to the early stage of GenVec's product candidates under development; uncertainties relating to clinical trials; risks relating to the commercialization, if any, of GenVec's proposed product candidates; dependence on the efforts of third parties; dependence on intellectual property; and risks that we may lack the financial resources and access to capital to fund our operations. Further information on the factors and risks that could affect GenVec's business, financial conditions and results of operations, are contained in GenVec's filings with the U.S. Securities and Exchange Commission (SEC), which are available at www.sec.gov. These forward-looking statements speak only as of the date of this press release, and GenVec assumes no duty to update forward-looking statements.