SIGA Completes Second Delivery of Arestvyr(TM) Under BARDA Contract

SIGA Completes Second Delivery of Arestvyr(TM) Under BARDA Contract

NEW YORK, May 29, 2013 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc.
(Nasdaq:SIGA) today announced the Government's acceptance of SIGA's second
delivery of its proprietary smallpox antiviral drug, Arestvyr™, to the United
States Government's Strategic National Stockpile (SNS) under SIGA's contract
with the Biomedical Advanced Research and Development Authority (BARDA).

"We are very pleased that, again, we have timely delivered quality product to
the Strategic National Stockpile. Our second delivery of nearly 200,000
courses of Arestvyr puts us another step closer to one of our important
milestones: BARDA's acceptance of the first 500,000 courses of the 2,000,000
contracted-for courses of Arestvyr," commented Dr. Eric A. Rose, SIGA's
Chairman and Chief Executive Officer. "When we pass that milestone, which we
expect to do in the near future, we will be entitled to invoice BARDA and
begin collecting payments for our product deliveries."

Arestvyr (Tecovirimat) is one of the first novel drugs to be developed,
procured and now delivered to the Strategic National Stockpile under the
post-9/11 legislative authority known as Project BioShield. Developed to serve
as a therapeutic drug for treatment of smallpox, whether resulting from a
terrorist attack, biowarfare or a new natural outbreak, Arestvyr is an
investigational new drug not yet approved or licensed as safe and effective by
the U.S. Food and Drug Administration (FDA). Arestvyr was formerly known as
ST-246®.

About SIGA Technologies, Inc.

In the United States and around the globe, populations face a serious but
unmet need for new drugs to protect against potentially catastrophic emerging
viral pathogens and biological weapons of mass destruction. We are a
pharmaceutical company specializing in discovering and developing
pharmaceutical solutions for some of the most lethal pathogens – smallpox,
Ebola, dengue, Lassa fever and other dangerous viruses. Our objective is to
discover, develop, and commercialize drugs to prevent and treat these
high-priority threats. Our mission is to disarm dreaded viral diseases and
create robust, modern biodefense countermeasures. For more information about
SIGA, please visit SIGA's web site at www.siga.com.

Forward-Looking Statements

This press release contains certain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995, as amended,
including statements relating to SIGA's performance under its contract with
the Biomedical Advanced Research and Development Authority (BARDA), SIGA's
efforts to seek approval and licensing from the United States Food and Drug
Administration, and SIGA's capabilities in antiviral drug discovery and
development. Forward-looking statements are based on management's estimates,
assumptions and projections, and are subject to uncertainties, many of which
are beyond our control. Actual results may differ materially from those
anticipated in any forward-looking statement. Factors that may cause such
differences include (i) the risk that potential products that appear promising
to us or our collaborators cannot be shown to be efficacious or safe in
subsequent animal, pre-clinical or clinical trials, (ii) the risk that we or
our collaborators will not obtain appropriate or necessary governmental
approvals to market these or other potential products, (iii) the risk that we
may not be able to obtain anticipated funding for our development projects or
other needed funding, (iv) the risk that we may not complete performance under
the BARDA contract on schedule or in accordance with the contractual terms,
(v) the risk that we may not be able to secure or enforce sufficient legal
rights in our products, including intellectual property protection, (vi) the
risk that any challenge to our patent and other property rights, if adversely
determined, could affect our business and, even if determined favorably, could
be costly, (vii) the risk that regulatory requirements applicable to our
products may result in the need for further or additional testing or
documentation that will delay or prevent seeking or obtaining needed approvals
to market these products, (viii) the risk that one or more protests could be
filed and upheld in whole or in part or other governmental action taken, in
either case leading to a delay of performance under our contract with BARDA,
or other governmental contracts, (ix) the risk that our BARDA contract is
modified or canceled at the request or requirement of the U.S. Government, (x)
the risk that the volatile and competitive nature of the biotechnology
industry may hamper our efforts to develop or market our products, (xi) the
risk that changes in domestic and foreign economic and market conditions may
adversely affect our ability to advance our research or products, (xii) the
effect of federal, state or foreign regulation, including drug regulation and
international trade regulation, on our business, (xiii) the risk that our
outstanding indebtedness may make it more difficult to obtain additional
financing, (xiv) the risk that the U.S. Government's responses (including
inaction) to the national and global economic situation, including possible
courses of action related to the so-called "sequester," may adversely affect
our business, (xv) the risk that our internal controls will not be effective
in detecting or preventing a misstatement in our financial statements, (xvi)
the risk that some amounts received and recorded as deferred revenue
ultimately may not be recognized as revenue, and (xvii) the risk that we may
not be able to establish our intended positions or otherwise not prevail in
any further court proceedings. More detailed information about our company and
risk factors that may affect the realization of forward-looking statements,
including the forward-looking statements set forth here, is set forth in our
filings with the Securities and Exchange Commission (the SEC), including our
Annual Report on Form 10-K for the fiscal year ended December 31, 2012, as
amended by SIGA's 10-K/A as filed on May 15, 2013, and in other documents that
we have filed with the SEC. We urge investors and security holders to read
those documents free of charge at the SEC's website at http://www.sec.gov.
Interested parties may also obtain those documents free of charge directly
from us. Forward-looking statements speak only as of the date they are made,
and except for our ongoing obligations under the federal securities laws, we
undertake no obligation to update publicly any forward-looking statement
whether as a result of new information, future events or otherwise.

CONTACT: KCSA Strategic Communications
         Todd Fromer / Robert Fink
         212-896-1215 / 1236
         Tfromer@kcsa.com / Rfink@kcsa.com

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