Provectus Receives $1.1 Million from Warrant Conversions

Provectus Receives $1.1 Million from Warrant Conversions

September 29 2008

KNOXVILLE, Tenn.--(BUSINESS WIRE)--Provectus Pharmaceuticals, Inc. (OTC BB: PVCT), a development-stage oncology and dermatology biopharmaceutical company, announced today that it has received approximately $1.1 million from the early conversion of some of its outstanding warrants. The Company now has approximately $5 million cash on hand to fund operations.

Craig Dees, PhD, CEO of Provectus, said, "We are naturally quite pleased with this infusion of cash as investors convert their warrants. These conversions demonstrate their belief in our research, our business plan and our management team. We have laid out our milestones, and we have achieved them as we said we would.

"Our research into the efficacy and safety of PV-10 for the treatment of metastatic melanoma continues on schedule. We have established our first US center to the study, the prestigious and highly regarded M.D. Anderson Cancer Center, in Houston, TX, where Professor Merrick Ross, MD, is the lead investigator of the team there. We continue to make progress in Australia at the Sydney Melanoma Unit under the supervision of Professor John F Thompson, MD, and at the Princess Alexandra Hospital in Brisbane, Queensland, under Associate Professor Mark Smithers, MD. Recently, our patient enrollment reached the 25% level for the study, 20 out of 80 we intend to treat in this trial.

Professor Thompson has presented his findings at the inaugural Sydney Cancer Conference 2008, and he'll provide a further update later this week at the Perspectives in Melanoma XII meeting at The Hague, The Netherlands. Professor Thompson's presentation, entitled "PV-10 Chemoablation of cutaneous and subcutaneous metastatic melanoma," is scheduled for the afternoon symposium on emerging therapies scheduled for approximately 2:20 pm local time on Thursday, October 2^nd, 2008."

He concluded, "We continue to communicate with investors at investor conferences as well. I recently presented at The Wall Street Analyst Forum 19th Annual Analyst Conference. The FDA is very strict on what we can tell the market, but our policy is to be as transparent as the regulators allow, and we will continue to meet with members of the financial community."

About Provectus Pharmaceuticals, Inc. (www.pvct.com)

Provectus Pharmaceuticals is a development stage company that specializes in oncology and dermatology therapies that are safer, more effective, less invasive and more economical than conventional therapies. Provectus is currently conducting Phase 2 clinical trials of their proprietary drugs PV-10 as a therapy for metastatic melanoma and PH-10 as a topical treatment for psoriasis and atopic dermatitis. Information about these and the Company's other clinical trials can be found at the NIH registry, www.clinicaltrials.gov. The Company has received orphan drug designation from the FDA for its melanoma indication. Complementing their suite of proprietary drugs, Provectus has developed a number of intellectual properties and technologies in the areas of imaging, medical devices and biotechnology. For additional information about Provectus please visit the Company's website at www.pvct.com or contact Porter, LeVay & Rose, Inc.

FORWARD-LOOKING STATEMENTS: The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof.