AAIPharma Completes Acquisition of CAC and Launches New AAIOncology Business Unit

AAIPharma Inc. announced today that it has completed the
previously announced acquisition of Cvitkovic & Associes Consultants
S.A. (CAC), an international contract research organization
specializing in oncology drug development and medical consulting. CAC
has clinical operations in France, Croatia, Russia, Spain, Argentina,
Peru, and the United States. As a result of the acquisition, CAC has
become the foundation of AAIOncology, a global business unit dedicated
to oncology drug development.

"We are very pleased to have completed the acquisition of CAC, and
we welcome our new colleagues to AAIPharma," said John Hall, Ph.D.,
AAIPharma president of European operations. "CAC's approach over the
years has been to provide a unique combination of medical expertise
and execution excellence in the area of oncology drug development. At
AAIPharma, CAC's patient-centric medical approach will serve as the
model for the development of other therapeutic business units in areas
of unmet need."

"AAIOncology will significantly strengthen our presence and impact
in oncology drug development worldwide," said Vito Mangiardi,
AAIPharma president of North American operations. "The experience and
expertise brought by our new colleagues in the area of early clinical
development in oncology will significantly strengthen our company's
ability to execute large and global late-stage clinical development
programs."

"We are privileged to become part of AAIPharma given the strength
and reputation of its people and services," said Scott Spector, CAC
CEO. "AAIPharma's operations platform across the whole drug
development process will help us provide an ever-broader and more
significant contribution to the development programs of our customers
worldwide. We believe the combination of CAC and AAIPharma will
provide a new and expanded model for delivering oncology drug
development."

About AAIPharma

AAIPharma Inc. is a global provider of product development and
support services to the pharmaceutical, biotechnology and medical
device industries. From a single test through a range of integrated
service offerings, we create value to an industry in search of
productivity and innovation. For more information on the Company,
please visit AAIPharma's website at www.aaipharma.com.