Elite Pharmaceuticals, Inc. Announces Fiscal Year 2013 Third Quarter Investor Conference Call on Tuesday, February 19, 2013

Elite Pharmaceuticals, Inc. Announces Fiscal Year 2013 Third Quarter Investor
Conference Call on Tuesday, February 19, 2013

NORTHVALE, N.J., Feb. 13, 2013 (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 Tuesday, February 19, 2013 at 10:00 AM EST to review the
fiscal third 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 March 5, 2013 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 currently being sold,
three additional products approved and soon to be launched, and one additional
product 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
provides contract manufacturing for Actavis and Ascend Laboratories
(previously a subsidiary of ThePharmaNetwork and now a subsidiary of Alkem
Laboratories Ltd.) and 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, inability
to obtain necessary ingredients 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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