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Nile Therapeutics to Present at Two Upcoming Investor Conferences

November 3, 2008

SAN FRANCISCO, Nov. 3 /PRNewswire-FirstCall/ — Nile Therapeutics, Inc., , announced today that Peter Strumph, Chief Executive Officer, will present at the following upcoming investor conferences:

— Rodman & Renshaw 10th Annual Healthcare Conference at 2:25 p.m. ET in the Kennedy II room on Monday, November 10, 2008 at The Palace Hotel in New York, NY.

— Lazard Capital Markets 5th Annual Healthcare Conference at 9:00 a.m. ET on Wednesday, November 19, 2008 in the La Maisonette I room at The St. Regis Hotel in New York, NY.

Mr. Strumph will provide an overview of Nile and an update on its clinical development programs, including interim data from Nile’s Phase 2a study for its lead compound, CD-NP, a novel chimeric peptide for the treatment of heart failure.

About Nile Therapeutics

Nile Therapeutics, Inc. is a clinical-stage biopharmaceutical company that develops innovative products for the treatment of cardiovascular disease and other areas of unmet medical need. Nile is initially focusing its efforts on developing its lead compound, CD-NP, a novel rationally designed chimeric peptide in clinical studies for the treatment of heart failure; 2NTX-99, a small molecule, pre-clinical, anti-atherothrombotic agent with nitric oxide donating properties; and CU-NP, a novel rationally designed natriuretic peptide. A key component of the company’s strategy is to acquire the global rights to additional compounds to expand its portfolio. More information on Nile can be found at http://www.nilethera.com/.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, outlook, milestones, the success of Nile’s product development, future financial position, future financial results, plans and objectives of management are forward-looking statements. We may not actually achieve these plans, intentions or expectations and Nile cautions investors not to place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. Various important factors that could cause actual results or events to differ materially from the forward-looking statements that we make are described in greater detail in the reports we file with Securities and Exchange Commission, including the “Risk Factors” section in Item 1 of the Form 10-KSB we filed with the Securities and Exchange Commission on March 27, 2008. Nile is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise.

Nile Therapeutics, Inc.

CONTACT: Daron Evans, Chief Financial Officer for Nile Therapeutics,Inc., +1-415-875-7880, info@nilethera.com

Web Site: http://www.nilethera.com/




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