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Hollis-Eden Pharmaceuticals to Present at the UBS 2004 Global Specialty Pharmaceuticals Conference

SAN DIEGO--(BUSINESS WIRE)--May 19, 2004--Hollis-Eden Pharmaceuticals, Inc. (Nasdaq:HEPH) today announced that it will present at the UBS 2004 Global Specialty Pharmaceuticals Conference in New York City, at 9:00 a.m. Eastern (6:00 a.m. Pacific) on Tuesday, May 25, 2004. Presenting on behalf of the Company will be Daniel D. Burgess, CFO and COO. A live webcast of the presentation will be available from the conference. The webcast may be accessed under "Event Calendar" on the Investors section of Hollis-Eden's website at www.holliseden.com, and will be archived at the Company's website for 30 days following the presentation.

Hollis-Eden Pharmaceuticals, Inc. is a development-stage pharmaceutical company based in San Diego, California, working to become the world leader in the development of a new class of investigational drugs known as Immune Regulating Hormones (IRHs). The goal of IRH therapy is to direct, through controlling gene expression, the production of key cytokines and enzymes that re-regulate immune and metabolic functions toward homeostasis, a profile that could be useful in a wide variety of diseases. The Company has a number of investigational IRHs under development, including NEUMUNE(TM), which the Company is co-developing with the U.S. military for use in protection from radiation injury; PHOSPHONOL(TM), a candidate for providing protection against DNA mutations from radiation exposure and chemotherapy treatment; and IMMUNITIN(TM), which has shown activity in a variety of infectious diseases, including HIV/AIDS, tuberculosis and malaria. Hollis-Eden is also developing IRHs for protection from chemotherapy and other conditions of immune dysregulation. For more information on Hollis-Eden, contact the Company's website at www.holliseden.com.

This press release contains forward-looking statements concerning the potential and prospects of the Company's drug discovery program and its drug candidates. Any statement describing a goal, expectation, intention or belief of the Company is a forward-looking statement and should be considered an at-risk statement. Such statements are subject to certain risks and uncertainties, including the failure to successfully complete clinical trials, the Company's future capital needs, the Company's ability to obtain additional funding and required regulatory approvals, the ability of the Company to protect its intellectual property rights and to not infringe the intellectual property rights of others, the development of competitive products by other companies and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. The actual results may differ materially from those contained in this press release.

CONTACT: Hollis-Eden Pharmaceuticals
Dan Burgess or Scott Rieger, 858-587-9333

SOURCE: Hollis-Eden Pharmaceuticals, Inc.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Hollis-Eden Pharmaceuticals's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.