RegeneRx Biopharmaceuticals, Inc. (OTCBB: RGRX), announced today the results of its year ended December 31, 2000. The Company had net income of $1,041,432, or $0.06 per basic and $0.05 per diluted share for the year ended December 31, 2000, compared with a net loss of $(711,232), or $(0.06) per basic and diluted share, for the year ended December 31, 1999. Net income for 2000 stemmed primarily from the realized gain on sale of investments of $694,931 and a $781,775 extraordinary gain resulting from the negotiation of reductions in amounts owed to certain creditors.

Highlights for 2000 included:

• Completion of exclusive world-wide license from NIH in February 2001 for Thymosin Beta 4;
• Change of name to RegeneRx Biopharmaceuticals, Inc.;
• Completion of SEC filings to bring such requirements current;
• Restructuring of the Company's balance sheet and significant reduction of debt;
• Receipt of operating capital through appreciation and sale of SciClone stock; and
• Implementation of product development strategy.

According to Dr. Allan L. Goldstein, Chairman and CEO, "We are in a far better position today than at this time last year to move our technology from the bench top into clinical trials. Thanks to the hard work of our management consultants, we have significantly improved our financial condition and are able to give the Company its best opportunity for success. With the exclusive license in place, we can now focus on establishing strategic alliances and raising the necessary capital to achieve our corporate goals. We look forward to commercializing Thymosin beta 4 which I believe will have broad applications in the treatment of acute and chronic wounds."

RegeneRx is a biopharmaceutical company, founded in 1982, focused on products to treat a variety of human diseases. For the past several years researchers at the Company and the NIH's Institute of Dental and Craniofacial Research have been exploring the vital role of Tß4 in the regeneration, remodeling, and healing of chronic wounds and have published scientific papers on its efficacy in animal models. Several of these researchers will be presenting their results at an International Congress of Allergy and Immunology in New York in April, 2001.

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 Tß4 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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