The study is being conducted in Toronto, Canada, under a Clinical
Trial Application that Memory Pharmaceuticals filed with Health Canada.D.

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Readers are cautioned that actual
results may differ materially from projections or estimates due to a variety
of important factors, including the risks and uncertainties associated with:
conducting preclinical and clinical trials of the company's drug candidates
that demonstrate these candidates' safety and effectiveness; obtaining
regulatory approvals to conduct clinical trials and to commercialize the
company's drug candidates; the company's dependence on its collaborations with
Roche and its license relationship with Bayer; the company's ability to enter
into and maintain collaborations with third parties for its other early stage
drug development programs; achieving milestones under the company's
collaborations; obtaining additional financing to support the company 's R+D
and clinical activities and operations; the company's dependence on third-
party preclinical or clinical research organizations, manufacturers and
consultants; and protecting the intellectual property developed by or licensed
to the company.

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at The Investor Relations Group, Inc. Phone: 212-825-3210.

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All statements, other than statements of historical
facts, regarding management's expectations, beliefs, goals, plans or prospects
should be considered forward-looking.com/


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Roche has the right to obtain an exclusive license for MEM 3454 following
the completion of Phase IIa clinical trials under Memory Pharmaceuticals' 2003
collaboration with Roche. Organon for the
treatment of schizophrenia and depression and with Les Laboratoires
Servier for the development of AMPAKINE compounds to treat the
neurodegenerative effects associated with aging and disease, including
Mild Cognitive Impairment, Alzheimer's disease and anxiety disorders.

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The company disclaims any intent or obligation to update
any forward-looking statements as a result of developments occurring after the
date of this press release.


The report covering
the transition period will be filed in a Form 10-K.

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David A.

About the Company
Memory Pharmaceuticals Corp .cortexpharm.

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Memory
Pharmaceuticals Corp. The discussion will be followed by a question
and answer session.
Participants are asked to call the following numbers 5-10 minutes
prior to the starting time:

From the U.S.
(http://www.

Dementia describes a gradual decrease in cognitive abilities from a once-normal state over a period of time.

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About Cortex Pharmaceuticals, Inc.

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(Nasdaq: MEMY ) today announced the first dosing in a Phase I study of
MEM 3454, a partial agonist of the nicotinic alpha-7 receptor, in healthy
volunteers.

Safe Harbor Statement
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995 that are subject to
risks and uncertainties. and Canada: 1-800-500-0177

International: 1-719-457-2679

A replay will be available for 45 days after the call by dialing
1-888-203 -1112 (US and Canada) or 1-719-457-0820 (International) and
entering access code 2436331 when prompted . The loss of
these connections is thought to be responsible for memory and behavior
problems in Alzheimer's disease.

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com .

Cortex to Host Conference Call to Discuss Results for the Six-Months Ended December 31 2004

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MONTVALE, N. Compounds acting on this receptor could be
beneficial in the treatment of schizophrenia and Alzheimer's disease, as well
as other psychiatric and neurological disorders.
For more information, call: Damian McIntosh or Dian Griesel, Ph. Many psychiatric diseases , including
schizophrenia, occur as a result of imbalances in the brain's
neurotransmitter system .

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J.

Alzheimer's is one type of dementia.

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memorypharma. may not actually achieve the goals or plans described in
its forward-looking statements, and investors should not place undue reliance
on these statements .

Business Editors/Health/Medical Writers

IRVINE, Calif.

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(AMEX: COR) will host a conference call on
Wednesday, March 23, 2005 at 11:00 AM Pacific Time (2:00 PM Eastern
Time) to discuss the Company's financials for the six-month
transitional period ended December 31, 2004, to update shareholders on
the development of the CX717 compound, and to discuss other
AMPAKINE(R) programs. The Company is pioneering a class of proprietary
pharmaceuticals called AMPAKINE compounds, which act to increase the
strength of signals at connections between brain cells.

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"
The nicotinic alpha-7 receptor is a highly specialized receptor found in
the central nervous system.

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Lowe, Ph.
Effective November 4, 2004, the Company's Audit Committee under
authority from the Board of Directors approved a change in the
Company's fiscal year from June 30 to December 31.

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, a biopharmaceutical company, is focused on
developing innovative drugs for the treatment of debilitating central nervous
system (CNS) disorders such as Alzheimer's disease, depression, schizophrenia,
vascular dementia, Mild Cognitive Impairment, and memory impairments
associated with aging. For additional information, please visit our website at
http://www.

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These imbalances may be improved by using the
AMPAKINE technology.

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Cortex, located in Irvine, California, is a neuroscience company
focused on novel drug therapies for neurological and psychiatric
disorders.

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Memory Pharmaceuticals Commences Phase I Study of MEM 3454

The
study is a single center, double-blind, placebo-controlled clinical study to
evaluate the safety, tolerability and pharmacokinetics of single ascending
doses of MEM 3454. These and other risks are described in greater detail in the
company's filings with the Securities and Exchange Commission .

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, Chief Scientific Officer of Memory Pharmaceuticals,
commented, "Initiating a Phase I trial for MEM 3454 represents a significant
milestone for the Company and its commitment to developing a range of
compounds to treat central nervous system disorders. We believe that the
profile of MEM 3454 offers the potential for clinical development as an
effective medicine to improve cognitive function .----Cortex
Pharmaceuticals, Inc.

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, Memory Pharmaceuticals
Corp.D. Cortex has alliances with N .V.

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This category is for sites about the dementias of old age and geriatics.

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