Conference Call Alert - Neurobiological Technologies, Inc. (Nasdaq: NTII) RICHMOND, Calif., April 21 /PRNewswire-FirstCall/ -- Please join us for an in-depth update regarding the initiation of Phase III trials for XERECEPT(TM), a novel compound to treat swelling associated with brain tumors. Paul E. Freiman, President and Chief Executive Officer, and Lisa Carr, M.D., Ph.D., Vice President, Medical Affairs, will host the call. After their remarks the call will be open to questions. Live Call: Date: Thursday, April 22, 2004 Time: 11:00 a.m. ET, 8:00 a.m. PT Dial-in number: 877-346-4093 Web Cast of Call: A live web cast can be accessed online at the following address: http://www.shareholder.com/ntii/medialist.cfm Call Replay: A playback of the conference call will be available from 2:00 p.m. ET through midnight Saturday, May 1st Replay number: (800) 642-1687 (U.S. and Canada) & (706) 645-9291 (Int'l) Replay access code: 7003179 About the Company: NTI is an emerging drug development company focused on the clinical evaluation and regulatory approval of neuroscience drugs. The Company's strategy is to in-license and develop early- and later-stage drug candidates that target major medical needs and which can be rapidly commercialized. The Company's experienced management team oversees the human clinical trials necessary to establish preliminary evidence of efficacy and seeks partnerships with pharmaceutical and biotechnology companies to complete development and marketing of its product candidates. DATASOURCE: Neurobiological Technologies, Inc. CONTACT: Paul E. Freiman, President & CEO of Neurobiological Technologies, Inc., +1-510-262-1730; Roger Pondel or Rob Whetstone of PondelWilkinson Inc., +1-323-866-6050, for Neurobiological Technologies, Inc. Web site: http://www.ntii.com/

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