Corporate Update

Letter to shareholders give corporate update on virus drugs

Published in TB and Outbreaks Week, June 10th, 2003

The following is a letter from Geert Kersten, CEO, and Maximilian de Clara, president, of Cel-Sci Corporation (CVM) to its shareholders:

[helv]In our March 12, 2003, shareholder letter we outlined our plans for the next 12 months. Management is confident that Cel-Sci is on target to achieve and exceed its goals, as explained below.

The company's president and the company's CEO feel that Cel-Sci has now made such significant advances that we recently elected to take 6 months of stock in lieu of salary (shares restricted from sale for 1 year). We did so because we have confidence in the company's employees and in the science. Equally important,...

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Source: TB and Outbreaks Week (2003-06-10)

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