Cephalon Quarterly Conference Call Invitation

Fourth Quarter & Full Year 2008 Earnings Conference Call
Thursday, February 12, 2009, 5:00 p.m.U.S. EST

FRAZER, Pa., Jan. 12 /PRNewswire-FirstCall/ -- Cephalon, Inc. (Nasdaq: CEPH)
has scheduled its regular quarterly earnings conference call covering fourth
quarter and full year 2008 results for 5:00 p.m. EST on Thursday, February 12,
2009.

February 12, 2009 Schedule

4:10 p.m. EST Q4 & FY 2008 results will be distributed by PRNewswire
4:50 p.m. EST To participate in the conference call, dial 913-661-9178 and
refer to Conference Code Number 9540364

5:00 p.m. EST Conference call begins promptly.

Simultaneous Webcast

Investors can listen to the call live by logging on to the company's website
at www.cephalon.com and clicking on "Investor Information," then "Webcast."
Please click on the link and follow the prompts for registration and access.

If you are unable to listen to the live broadcast, an audio or webcast replay
of the call will be available approximately two hours after the event until
Midnight EST, February 19, 2009. To listen to the audio replay, dial 1-
719-457-0820 and use the Conference Code Number 9540364.

Additional information presented on the conference call may be made available
on the Investor Information page of the company's website.

SOURCE Cephalon, Inc.

Robert S. (Chip) Merritt of Cephalon, +1-610-738-6376, cmerritt@cephalon.com