Biopharmaceuticals Neurology Personnel

 News Release - June 15, 2006

Neurobiological Technologies Announces Departure of Jonathan Wolter as Vice President and Chief Financial Officer

Will Remain as a Consultant to NTI

EMERYVILLE, Calif., June 15 (HSMN NewsFeed) -- Neurobiological Technologies, Inc. (NTI®) (Nasdaq: NTII ) today announced that Jonathan R. Wolter is leaving the Company as Vice President and Chief Financial Officer in order to pursue other professional opportunities. Mr. Wolter will continue as a consultant to the Company for the next year in order to assist the Company with Sarbanes-Oxley compliance and other financial reporting matters.

Paul E. Freiman, President and Chief Executive Officer of Neurobiological Technologies said, "We thank Jonathan for his service to NTI, and are grateful that he will be remaining on as a consultant. With Viprinex(TM) for acute ischemic stroke in Phase III trials, and XERECEPT® for peritumoral brain edema also in Phase III trials, it is important that our management team remains focused on our mission, and Jonathan will provide us with important continuity in our financial department while we conduct a search for his replacement."

About Neurobiological Technologies:

NTI is a 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. NTI's experienced management team oversees the human clinical trials necessary to establish preliminary evidence of efficacy. We anticipate that we will continue to acquire and develop late-stage neurologic drug candidates and will develop the resources to market these drugs in selected world regions. Our goal is to develop and market drug candidates in the United States, Europe and Asia and we may seek partnerships with pharmaceutical and biotechnology companies to assist us.

NOTE: Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including, changes to our management team, our reliance on third-party manufactures and clinical trials and the regulatory approval process and other risks detailed from time to time in our Securities and Exchange Commission filings. Actual results may differ materially from those projected. These forward-looking statements represent our judgment as of the date of the release. We disclaim, however, any intent or obligation to update these forward-looking statements.

Source: Neurobiological Technologies

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