PRESS RELEASE
Published on September 19, 2003
EXHIBIT 99.1
(EXEGENICS LOGO)
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact: WaLisa M. Davenport
eXegenics Inc.
(214) 358-2000
E. Blair Clark (Investors)
Burns McClellan
(212) 213-0006
William Fiske (Information Agent)
Georgeson Shareholder Communications Inc.
Banks and Brokers: (212) 440-9800
All Others Call Toll-Free: (800) 964-0733
EXEGENICS ANNOUNCES RESIGNATION OF INDEPENDENT AUDITOR
Dallas, September 19, 2003 -- eXegenics Inc. (Nasdaq: EXEG) announced today that
Ernst & Young LLP has resigned as eXegenics' independent auditor. The Audit
Committee of the Board of Directors of eXegenics has begun the process of
conducting its search for and interviewing new independent auditors to audit
eXegenics' financial statements for the fiscal year ending December 31, 2003.
Ernst & Young's decision to resign was not influenced by any disagreements with
management relating to eXegenics' financial statements. Ronald L. Goode, Ph.D.,
Chairman and Chief Executive Officer of eXegenics commented, "While we regret
that they can no longer continue to serve us, we highly appreciate the services
Ernst & Young provided to our company and thank them for having served as our
auditors. We believe that the lack of disagreements with this major accounting
firm is a credit to our internal accounting processes and procedures."
SAFE HARBOR
This release contains forward-looking statements. The words "believe," "expect,"
"intend", "anticipate," variations of such words, and similar expressions
identify forward-looking statements, but their absence does not mean that the
statement is not forward-looking. These statements are subject to certain risks,
uncertainties and assumptions that are difficult to predict. Readers are
cautioned not to place undue reliance on these forward-looking statements, which
speak only as of the date of this release. eXegenics undertakes no obligation to
update any forward-looking statement to reflect new information, events or
circumstances after the date of this release or to reflect the occurrence of
unanticipated events.