RegeneRx Biopharmaceuticals, Inc. (OTCBB:RGRX) (URL: www.RegeneRx.com) announced today that Richard J. Hindin has been elected to the company's Board of Directors.

Mr. Hindin is President and CEO of Adworks Inc., a Washington, D.C. based advertising and marketing firm billing in excess of $80 million annually. He is also Chairman of the Board of Chicken Out Rotisserie Inc., founded in 1991, which operates 29 restaurants in four states and the District of Columbia, with annual sales in excess of $35 million. In 1967, he co-founded Britches of Georgetowne, Inc., (Britches) a clothing retailer specializing in the sale of upscale men's and women's apparel and accessories. Under his stewardship as its President and CEO, Britches became a chain of 77 units in seven states with annual sales exceeding $120 million. Currently, Mr. Hindin serves as Chairman of the Board of The Institute of Advanced Studies in Immunology and Geriatric Medicine, a non-profit 501(c)(3) corporation that specializes in disseminating medical information to the public as well as providing the pharmaceutical industry with an independent source for testing vaccines and drugs for the elderly.

According to J.J. Finkelstein, President and CEO of RegeneRx, "We are very pleased Rick has agreed to serve on our board. His past successes speak for themselves while his involvement with RegeneRx has been instrumental in helping rebuild and finance the company and put us in position to move forward with our product development program. Having worked with Rick during the past three years on this project, I appreciate the insight, skills and values he brings to the table."

RegeneRx Biopharmaceuticals, Inc., Bethesda, MD, is developing Thymosin beta 4 (TB4) for the treatment of acute and chronic wounds and for the treatment of a variety of human diseases involving tissue repair. The company holds an exclusive worldwide license from the National Institutes of Health related to the technology. It also holds several patents outside the wound healing area in addition to numerous applications currently pending. The company recently completed a $1.7 million round of financing that will enable it to initiate funding of human clinical trials later this year.

The information in this press release may include certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements concern the Company's current expectations regarding future events, including the ongoing and prospective development and commercialization of TB4 and possible future benefits to the Company, its shareholders, and patients. Due to the nature of product development and the regulatory approval process, the forward-looking statements contained in this press release are subject to risks and uncertainties, including those reflected in the Company's filings with the Securities and Exchange Commission, particularly its most recent Annual Report on Form 10-KSB. The Company assumes no obligation to update or revise any forward-looking statements made herein or any other forward-looking statements made by the Company.

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