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July 01, 2002
Hemispherx Announces Annual Shareholders Meeting To Be Held August 14th, 2002
Philadelphia, PA, Monday, July 01, 2002: Hemispherx Biopharma, Inc. (AMEX: HEB), a leading company in the experimental-stage development of immune based therapies primarily addressing the diseases of HIV AIDS and Chronic Fatigue Syndrome, announced today that its annual shareholders meeting is scheduled to be held on August 14th, 2002 at the Embassy Suites, 1776 Benjamin Franklin Parkway, Philadelphia, Pennsylvania 19103.

The meeting will commence at 10:00am Eastern Standard Time. The meeting will cover the election of Hemispherx's new Board of Directors and retention of Independent Auditors. The agenda will also include status reports on the ongoing clinical trial programs in Chronic Fatigue Syndrome (CFS) and HIV/AIDS, prosecution of the Company's global patent registrations, the progress of Hemispherx's European subsidiary, analysis of the recent partnerships and accomplishments of the last year. In addition, Hemispherx will speak on future business development strategies to be implemented in the coming year as well as an overview of the expectations for expanded regulatory approval world wide and significant increased capitalization in the company's subsidiaries.

Hemispherx Biopharma, Inc.
Hemispherx Biopharma, Inc is a biopharmaceutical company that focuses on the innovative development of ribonucleic acid (RNA) drug technologies intended to enhance the natural anti-viral defense system of the human body, representing a potential new class of pharmaceutical products. Its primary product, Ampligen, is in two phase IIb clinical trials for HIV/AIDS, one experimental Salvage Therapy and one Strategic Treatment Intervention (STI), and a phase III clinical trial for CFS.

Hemispherx Biopharma, Inc., Investor Relations
(215) 988-1712, Fax: (215) 988-1554

Dianne Will, Investor Relations
(518) 398-6222, Fax: (518) 398-6223

Robert Giordano, MRB Institutional Investors, MRB
(212) 495-0200, Fax: (212) 495-0746

HEB's Web Site: www.hemispherx.net

Information contained in this news release other than historical information, should all be considered forward-looking and is subject to various risk factors and uncertainties. For instance, the strategies and operations of Hemispherx involve risks of competition, changing market conditions, change in laws and regulations effecting these industries and numerous other factors discussed in this release and in the Company's filings with the Securities and Exchange Commission. Accordingly, all the referenced investigational drugs and associated technologies of the company are experimental in nature and as such are not designated safe and effective by a regulatory authority for general use and are legally available only through clinical trials with the referenced disorders. The forward-looking statements represent the Company's judgement as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements.