November 4, 2008

Neurobiological Technologies Sets Date for First Quarter Financial Results

EMERYVILLE, Calif., Nov. 4 /PRNewswire-FirstCall/ -- Neurobiological Technologies, Inc. (NTI(R)) , today announced it will release its first quarter 2009 financial results, for the quarter ended September 30, 2008, and host a conference call on November 6, 2008.

Hosting the call will be Paul E. Freiman, President and Chief Executive Officer, and Matthew M. Loar, Vice President and Chief Financial Officer. The details for the call are as follows:

   Live Call:    -- Date: Thursday, November 6, 2007   -- Time: 10:30 a.m. ET, 9:30 a.m. CT, 7:30 a.m. PT   -- Dial-in number:  800-309-1245 (U.S.) 719-457-2080 (International)    Webcast of Call:    -- A live webcast can be accessed online by going to:    Telephonic Replay:   (Archived for 90 days)    A playback of the conference call will be available from 1:30 PM November   6 (ET) through midnight November 13 (ET).    Replay number: 888-203-1112 (U.S. and Canada) / 719-457-0820   (international).   Replay access code: 8094663.     About Neurobiological Technologies, Inc.  
Neurobiological Technologies, Inc., is a biopharmaceutical company focused on developing novel, first-in-class agents for central nervous system conditions and other serious unmet medical needs. The Company's most advanced product candidate, Viprinex(TM) (ancrod), is in Phase 3 clinical testing as a novel investigational drug for the treatment of acute ischemic stroke. Viprinex has multiple mechanisms of action and is specifically designed to extend the time period that patients can be treated after the onset of a stroke. Acute ischemic stroke is one of the most prevalent, debilitating and costly diseases in the world for which there are few acceptable treatment options. NTI also has early-stage development programs for Alzheimer's and Huntington's diseases and rights to receive payments on an approved drug for Alzheimer's disease and an investigational drug in Phase 3 trials for brain swelling.

Neurobiological Technologies, Inc.

CONTACT: Matthew M. Loar, CFO, +1-510-595-6000

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