Elite Pharmaceuticals, Inc. Announces Fiscal Year 2013 Second Quarter Investor Conference Call on Thursday, November 15, 2012

Elite Pharmaceuticals, Inc. Announces Fiscal Year 2013 Second Quarter Investor
Conference Call on Thursday, November 15, 2012

NORTHVALE, N.J., Nov. 13, 2012 (GLOBE NEWSWIRE) -- Elite Pharmaceuticals, Inc.
(OTCBB:ELTP), a specialty pharmaceutical company dedicated to developing and
commercializing oral sustained and controlled release product formulations and
generics with high barriers to entry, announced today the Company will host a
conference call on Thursday, November 15, 2012 at 10:00 AM EST to review the
fiscal second quarter results of operations and provide an update on recent
business developments. Company executives will also conduct a question and
answer session following their remarks.

To access the conference call:

Domestic callers: (800) 346-7359
International callers: (973) 528-0008
Conference Entry Code:98840

A digital telephone replay will be available approximately one hour after the
conclusion of the call for two weeks until November 29, 2012 by dialing:

Domestic callers: (800) 332-6854
International callers: (973) 528-0005
Conference entry code: 98840

About Elite Pharmaceuticals, Inc.

Elite Pharmaceuticals, Inc. develops oral sustained and controlled release
products. Elite's strategy includes assisting partner companies in the life
cycle management of products to improve off-patent drug products and
developing generic versions of controlled release drug products with high
barriers to entry. Elite has three commercial products being sold through a
partner, one product produced for partners under contract manufacturing
agreements, two additional products approved and pending launch, and three
products under review, pending approval by the FDA. Elite's lead pipeline
products include abuse resistant opioids utilizing the company's patented
proprietary technology, and a once-daily opioid.They are sustained release
oral formulations of opioids for the treatment of chronic pain, which address
two of the limitations of existing oral opioids: the provision of consistent
relief of baseline pain levels and deterrence of potential abuse.Elite also
has partnered with Mikah Pharma to develop a new product, with Hi-Tech
Pharmacal to develop an intermediate for a generic product, and a Hong Kong
based company to develop a branded product for the United States market and
its territories.Elite operates a GMP and DEA registered facility for
research, development, and manufacturing located in Northvale, NJ.

The Elite Pharmaceuticals, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8737

This news release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Including those related
to the effects, if any, on future results, performance or other expectations
that may have some correlation to the subject matter of this press
release,readers are cautioned that such forward-looking statements involve
risks and uncertainties including, without limitation, delays, uncertainties
and other factors not under the control of Elite, which may cause actual
results, performance or achievements of Elite to be materially different from
the results, performance or other expectations that may be implied by these
forward-looking statements These risks and other factors, including, without
limitation, the timing or results of pending and future clinical trials,
regulatory reviews and approvals by the Food and Drug Administration and other
regulatory authorities,intellectual property protections and defenses, and
the Company's ability to operate as a going concern, are discussed in Elite's
filings with the Securities and Exchange Commission, including its reports on
forms 10-K, 10-Q and 8-K. Elite undertakes no obligation to update any
forward-looking statements.

CONTACT: For Elite Pharmaceuticals, Inc.
         Dianne Will, Investor Relations, 518-398-6222
         Dianne@elitepharma.com
         www.elitepharma.com

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