FOR IMMEDIATE RELEASE

AUTOIMMUNE INC. RECEIVED NASDAQ DELISTING NOTICE Pasadena, California, March 2, 2004 - AutoImmune Inc. (Nasdaq: AIMM) today announced that it received a letter dated February 24, 2004 from the Nasdaq Listing Qualification Staff notifying the Company that, based upon the Staff's review of the Company and under the discretionary authority granted by Nasdaq Marketplace Rules 4300 and 4330(a)(3), the Company's securities will be delisted on March 4, 2004 unless the Company appeals the Staff's decision. According to the letter, the Staff's decision is based on the Staff's belief "that the Company does not have an operating business and has not provided any evidence that it will acquire an active operating business in the near term." The Company disagrees with the Staff's conclusion and has requested a hearing before a Nasdaq Listing Qualifications Panel to review the Staff's determination. The hearing request will stay the delisting of the Company's securities pending the Panel's decision. There can be no assurance, however, that the Panel will grant the Company's request for continued listing. AutoImmune is a biopharmaceutical company involved in the development of a new class of mucosally administered therapies for the treatment of autoimmune and cell-mediated inflammatory diseases and conditions. Contact: Robert C. Bishop, Ph.D. Chairman and Chief Executive Officer AutoImmune Inc. 626-792-1235 website: http://www.autoimmuneinc.com AutoImmune Inc. 1199 Madia Street Pasadena, CA 91103 Phone: 626-792-1235 Fax: 626-792-1236