FOR IMMEDIATE RELEASE

             ELITE PHARMACEUTICALS WINS CONSENT SOLICITATION CONTEST



         Northvale, New Jersey (October 9, 2002) - Elite Pharmaceuticals, Inc.
(AMEX: ELI) announced that it defeated the consent solicitation of Harris
Freedman, Sharon Will and Michael H. Freedman and their affiliates (the Freedman
Group). The Freedman Group had sought to remove all of the Company's independent
directors and replace them with their own hand-picked nominees - themselves. The
Freedman Group's solicitation was opposed by the Company, and Institutional
Shareholder Services, Inc., widely recognized as the nation's leading
independent proxy advisory firm, recommended that stockholders oppose it as
well.

         Commenting on the defeat of the Freedman Group, Dr. Atul M. Mehta,
Chief Executive Officer of Elite, said: "We are very pleased that a majority of
our stockholders recognized that the Freedman Group's proposals were not in the
best interests of all of the Company's stockholders. While the Freedman Group
apparently intends to engage the Company in a proxy contest for the election of
directors at its upcoming annual meeting of stockholders, we continue to believe
that the current Board is more qualified than the Freedman Group's hand-picked
slate consisting of themselves to lead the Company in its continuing growth and
development."

         Stockholders who would like additional information should call
Georgeson Shareholder Communications Inc. at (866)-297-1267.

FOR FURTHER INFORMATION, CONTACT:

Jonathan Fassberg of The Trout Group
Phone:  (212) 477-9007 Ext. 16


Source:  Elite Pharmaceuticals, Inc.
Website:  http://www.elitepharma.com