Forward Looking Statement

Except for historical information contained herein, this presentation may contain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve known and
unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially
different from those anticipated and discussed herein including, but not limited to, the ability of third parties to
commercialize the Company's products, the successful completion of its pilot pharmacokinetic feasibility studies,
the ability to develop products (independently and through collaborative arrangements), the Company's ability to
obtain additional required financing to fund its research programs, the ability to commercialize and obtain FDA
and other regulatory approvals for products under development, and the acceptance in the marketplace for oral
spray products. The filing of an NDA with the FDA is an important step in the approval process in the United
States. Acceptance for filing by the FDA does not mean that the NDA has been or will be approved, nor does it
represent an evaluation of the adequacy of the data submitted. Further, the Company operates in industries
where securities may be volatile and may be influenced by regulatory and other factors beyond the Company's
control. In addition, our inability to maintain or enter into, and the risks resulting from our dependence upon,
collaboration or contractual arrangements necessary for the development, manufacture, commercialization,
marketing, sales and distribution of any of our products could materially impact the Company's actual results.
Important factors that the Company believes might cause such differences are discussed in the risk factors
detailed in the Company's most recent Annual Report on Form 10-K and Registration Statements, filed with the
Securities and Exchange Commission. In assessing forward-looking statements contained herein, if any, the
reader is urged to carefully read all cautionary statements contained in such filings.

For more detailed information regarding NovaDel's 2009 financial results and its product pipeline, please review
the Company's SEC filings on Form 10-Q at the Investor Relations section of www.novadel.com.