TUSTIN, Calif., Oct. 14 /PRNewswire-FirstCall/ -- Avid Bioservices, Inc., a wholly owned subsidiary of Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM), announced today that it has completed facility modifications and installation of a 1,000-liter mammalian cell culture bioreactor in its Tustin manufacturing facility. The company anticipates that it will begin manufacturing products under current good manufacturing practice (cGMP) in the newly installed bioreactor in early 2005.

"The installation of this 1,000-liter bioreactor significantly augments our current capacity and positions Avid to support a wide range of clients, including commercial production," said Dr. Jay Treat, Avid's COO. "Equally important is the significant expansion of laboratory space available for process development, analytical methods development and stability studies."

About Avid Bioservices, Inc.

Avid Bioservices provides a comprehensive range of cGMP manufacturing services for the biotechnology and biopharmaceutical industries. Avid has manufactured cGMP clinical supplies for Phase I through Phase III clinical trials. The company's comprehensive range of cGMP services includes cell banking, stability testing, clinical product manufacturing and purification, bulk packaging, final product filling and regulatory support. The company also provides a variety of process development activities, including cell line optimization, analytical method development and product characterization. Avid has ten years of antibody manufacturing experience producing monoclonal antibodies and recombinant proteins in batch, fed-batch and perfusion modes. For more information about Avid, please visit http://www.avidbio.com . Information on Peregrine Pharmaceuticals, Inc. may be found at http://www.peregrineinc.com .

Safe Harbor Statement: This release may contain certain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Except for historical information presented herein, matters discussed in this release contain certain forward- looking statements. The inclusion of forward-looking statements should not be regarded as a representation by us, or any other person, that the objectives or plans will be achieved. The words "may," "should," "plans," "believe," "anticipate," "estimate," "expect," their opposites and similar expressions are intended to identify forward-looking statements. We caution readers that such statements are not guarantees of future performance or events and are subject to a number of factors that may tend to influence the accuracy of the statements, including but not limited to, risk factors discussed in Peregrine's report on Form 10-K for the year ended April 30, 2004 and subsequent quarterly reports on Form 10-Q. Peregrine disclaims any obligation and does not undertake to update or revise the forward-looking statements discussed in this press release.

Peregrine Investor Relations
Frank Hawkins and Julie Marshall, Hawk Associates, Inc.
(800) 987-8256 or info@hawkassociates.com

Edelman Financial (media inquiries)(212) 704-4465 or
jacqueline.hayot@edelman.com

SOURCE Peregrine Pharmaceuticals, Inc.
10/14/2004
CONTACT: Investor Relations, Frank Hawkins and Julie Marshall, both of Hawk Associates, Inc., +1-800-987-8256, or info@hawkassociates.com ; or Media, Edelman Financial, +1-212-704-4465, or jacqueline.hayot@edelman.com , all for Peregrine Pharmaceuticals, Inc.
Web site: http://www.peregrineinc.com