CytRx Corporation to Present at the Jefferies 2nd Annual Healthcare Conference

Business Wire, June 18, 2008

LOS ANGELES -- CytRx Corporation (Nasdaq: CYTR), a biopharmaceutical company engaged in the development and commercialization of human therapeutics, today announced that Steven A. Kriegsman, President and Chief Executive Officer, will be presenting at the Jefferies 2nd Annual Healthcare Conference on Thursday, June 26, 2008, at 11:15 a.m. EDT (8:15 a.m. PDT) in New York City.

The presentation will include information about CytRx's pipeline and its planned acquisition of Innovive Pharmaceuticals.

An audio Webcast of the presentation will be available at www.wsw.com/webcast/jeff26/cytr as well as through the Company's Web site at www.cytrx.com, where a replay will also be available for 90 days following the conference.

About CytRx Corporation

CytRx Corporation is a biopharmaceutical research and development company engaged in the development of high-value human therapeutics. The Company has three clinical-stage development programs based on its small-molecule "molecular chaperone" co-induction technology. CytRx owns and operates a research and development facility in San Diego. The Company has also recently signed a definitive agreement to acquire Innovive Pharmaceuticals, Inc., a biopharmaceutical company with a pipeline of attractive oncology therapeutic drug candidates. CytRx also maintains a 49 percent equity interest in RXi Pharmaceuticals (Nasdaq: RXII). For more information on the Company, visit www.cytrx.com

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks or uncertainties described in CytRx's most recently filed SEC documents, such as its most recent annual report on Form 10-K and any current reports on Form 8-K filed since the date of the last Form 10-K. All forward-looking statements are based upon information available to CytRx on the date the statements are first published. CytRx undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.