ImClone Systems Issues Statement

NEW YORK--(Business Wire)--
Carl Icahn, Chairman of the Board of ImClone Systems Incorporated
(NASDAQ: IMCL), stated that the large Pharma company has completed due
diligence and made a proposal not subject to financing or further due
diligence. Negotiations between the parties are underway and the large
Pharma company has requested that ImClone not divulge its name until
negotiations are completed.

About ImClone Systems

ImClone Systems Incorporated is a fully integrated global
biopharmaceutical company committed to advancing oncology care by
developing and commercializing a portfolio of targeted biologic
treatments designed to address the medical needs of patients with a
variety of cancers. The Company's research and development programs
include growth factor blockers and angiogenesis inhibitors. ImClone
Systems' headquarters and research operations are located in New York
City, with additional administration and manufacturing facilities in
Branchburg, New Jersey. For more information about ImClone Systems,
please visit the Company's web site at http://www.imclone.com.

Forward Looking Information

Certain matters discussed in this news release may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 and the Federal securities
laws. Although the Company believes that the expectations reflected in
such forward-looking statements are based upon reasonable assumptions
it can give no assurance that its expectations will be achieved.
Forward-looking information is subject to certain risks, trends and
uncertainties that could cause actual results to differ materially
from those currently expected. Many of these factors are beyond the
Company's ability to control or predict. Important factors that may
cause actual results to differ materially and could impact the Company
and the statements contained in this news release can be found in the
Company's filings with the Securities and Exchange Commission,
particularly those factors identified as "risk factors" in the
Company's most recent annual report of Form 10-K and in its quarterly
reports on Form 10-Q and current reports on Form 8-K. For
forward-looking statements in this news release, the Company claims
the protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995. The
company assumes no obligation to update or supplement any
forward-looking statements whether as a result of new information,
future events or otherwise.

ImClone Systems Incorporated
Corporate Communications
Tracy Henrikson, 908-243-9945
or
Rebecca Gregory, 646-638-5058
MEDIA@IMCLONE.COM

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