AlphaRx Shareholder Update

MARKHAM, ON, June 24 /PRNewswire-FirstCall/ - AlphaRx Inc. (OTCBB: ALRX)
releases letter to their shareholders:

Dear Shareholders,

We wanted to take a few minutes to update the current views on AlphaRx. For
the first time in our corporate history, we ended our last quarter with a
small profit. Aside from the fact that it was a small amount, it was
significant on more than one front. The events that occurred over the past few
weeks, have woke up investors around the world.
Our revenue is growing and our product pipeline remains robust and stronger
than ever. We have 2 partnered products with potential milestone payments in
excess of US$ 155 million which may generate a long-term stream of
multi-million dollar royalty income. We at AlphaRx, have established research
collaborations with leading specialty pharmaceutical companies and research
institutions, such as the US Army. We have both benefited either financially
or scientifically. Furthermore, these collaborations may lead to licensing
agreements of our products.
We are in the forefront of nanomedicine development and we are poised to be
the world's first pharmaceutical company to commercialize a polymeric-based
nanomedicine for the treatment of nosocomial pneumonia.
Our goal, as it has been from Day number one, is to create profit for our
shareholders and increase shareholder value. We believe we are succeeding.
Thank you for your support. We will continue to keep you informed.

Michael M. Lee

President & CEO

About AlphaRx Inc.

AlphaRx is a specialty pharmaceutical company dedicated to developing proven
therapies by reformulating FDA approved and marketed drugs which through the
application of its proprietary site-specific nano drug delivery technology,
offers improved medical benefits and a potential for significant commercial
product development.

FORWARD LOOKING STATEMENTS:

This release contains forward-looking statements within the meaning and
pursuant to the Safe Harbor provisions of the Securities Litigation Reform Act
of 1995 and involve risks and uncertainties that may individually or mutually
impact the matters herein described, including but not limited to product
development and acceptance, manufacturing, competition, regulatory and/or
other factors, which are outside the control of the Company.

SOURCE AlphaRx Inc.

AGORACOM Investor Relations Corp., ALRX@Agoracom.com, http://www.agoracom.com