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BARDA Issues a Presolicitation for Acquisition of a Smallpox Antiviral

Wednesday 11 February 2009

SIGA to Host Conference Call Following Full Solicitation

NEW YORK, Feb. 11, 2009 -- SIGA Technologies, Inc. (NasdaqCM:SIGA), a company specializing in the development of pharmaceutical agents to fight biowarfare pathogens, today announced that the Department of Health and Human Services (``HHS'') has issued a presolicitation to procure a smallpox antiviral drug that will be added to the Strategic National Stockpile (``SNS''). The request for proposal will seek to procure 1.7 million courses of treatment and may also seek offers to procure as many as 12 million courses.

The United States Government contemplates the award of a five-year, firm-fixed-price contract for medical countermeasures that can specifically provide treatment courses for symptomatic individuals exposed to smallpox.

A request for proposal is expected to be released sometime around February 24th and will call for a development level drug that is in the clinical study phase of the Investigational New Drug (IND) process as well as products that have already received approved therapeutic indications. The contract award resulting from this solicitation will have an estimated award date of September 2009. More information about the conditions set forth under this presolicitation can be found at: https://www.fbo.gov

Dr. Eric A. Rose, SIGA's Chief Executive Officer, commented, ``This notice demonstrates a clear commitment by the United States Government to procure the medicines that will help defend the public against a smallpox bioterror attack. We believe that with our clinically advanced smallpox antiviral, we are in a good position to respond to the RFP when it is announced on or around February 24th. We look forward to working with HHS during this process.''

The company intends to hold a conference call following the release of the full solicitation, which is expected on or about February 24, 2009. Details of the call will be released in a press release upon the announcement by HHS.

About SIGA Technologies, Inc.

SIGA Technologies is applying viral and bacterial genomics and sophisticated computational modeling in the design and development of novel products for the prevention and treatment of serious infectious diseases, with an emphasis on products for biological warfare defense. SIGA believes that it is a leader in the development of pharmaceutical agents to fight potential biowarfare pathogens. In addition to small pox, SIGA has antiviral programs targeting other category A pathogens, including arenaviruses (Lassa Fever, Junin, Machupo, Guanarito, Sabia, and lymphocytic choriomeningitis), Dengue Virus, and the filoviruses (Ebola and Marburg). For more information about SIGA, please visit SIGA's website at http://www.siga.com.

The SIGA Technologies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4504

Forward Looking Statement

This press release contains or implies certain ``forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding the efficacy of potential products, the timelines for bringing such products to market and the continued development and possible eventual approval of such products. Forward-looking statements are based on management's estimates, assumptions and projections, and are subject to uncertainties, many of which are beyond SIGA's control. Actual results may differ materially from those anticipated in any forward-looking statement. Factors that may cause such differences include the risks that (a) potential products that appear promising to SIGA or its collaborators cannot be shown to be efficacious or safe in subsequent pre-clinical or clinical trials, (b) SIGA or its collaborators will not obtain appropriate or necessary governmental approvals to market these or other potential products, (c) SIGA may not be able to obtain anticipated funding for its development projects or other needed funding, (d) SIGA may not be able to secure funding from anticipated government contracts and grants, (e) SIGA may not be able to secure or enforce sufficient legal rights in its products, including sufficient patent protection for its products, (f) regulatory approval for SIGA's products may require further or additional testing that will delay or prevent approval, and (g) BARDA may not complete the procurement set forth in the RFP or may complete it on different terms. More detailed information about SIGA and risk factors that may affect the realization of forward-looking statements, including the forward-looking statements in this press release, is set forth in SIGA's filings with the Securities and Exchange Commission, including SIGA's Annual Report on Form 10-K for the fiscal year ended December 31, 2007, and in other documents that SIGA has filed with the Commission. SIGA urges investors and security holders to read those documents free of charge at the Commission's Web site at http://www.sec.gov. Interested parties may also obtain those documents free of charge from SIGA. Forward-looking statements speak only as to the date they are made, and, except for any obligation under the U.S. federal securities laws, SIGA undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.

          KCSA Strategic Communications
          Todd Fromer 
            212-896-1215
           Tfromer@kcsa.com
          Marybeth Csaby
            212-896-1236
            mcsaby@kcsa.com