ImClone Systems Names Cheryl Anderson Vice President, Regulatory Affairs

Ms. Anderson has held senior regulatory positions at a number ofpharmaceutical companies, including Bayer, where she served as VicePresident of North America and Global Oncology, Regulatory Affairs;Aventis, where she served as Senior Director and Therapeutic Area Headof Global Oncology Regulatory Liaison; and Bristol-Myers Squibb, whereshe served most recently as Group Director of Global OncologyRegulatory Sciences. Ms. Anderson received her B.S. degree inbiochemistry from Southern Connecticut State University.

The Company has made an inducement stock option grant to Ms.Anderson for the right to purchase 51,000 shares of the Company'scommon stock. These stock options will vest over a four year period,and have an exercise price equal to the closing price of ImCloneSystems' common stock on January 3, 2005. The stock options weregranted under the ImClone Systems 2005 Inducement Stock Option Plan,as approved by the Compensation Committee of ImClone Systems' Board ofDirectors. This stock option grant meets the "employee inducement"exception to Nasdaq Marketplace Rule 4350 requiring shareholderapproval of equity-based incentive plans.

About ImClone Systems Incorporated

ImClone Systems Incorporated is committed to advancing oncologycare by developing and commercializing a portfolio of targetedbiologic treatments designed to address the medical needs of patientswith a variety of cancers. The Company's research and developmentprograms include growth factor blockers and angiogenesis inhibitors.ImClone Systems' strategy is to become a fully integratedbiopharmaceutical company, taking its development programs from theresearch stage to the market. ImClone Systems' headquarters andresearch operations are located in New York City, with additionaladministration and manufacturing facilities in Branchburg, New Jersey.

Certain matters discussed in this news release may constituteforward-looking statements within the meaning of the PrivateSecurities Litigation Reform Act of 1995 and the Federal securitieslaws. Although the company believes that the expectations reflected insuch forward-looking statements are based upon reasonable assumptionsit can give no assurance that its expectations will be achieved.Forward-looking information is subject to certain risks, trends anduncertainties that could cause actual results to differ materiallyfrom those projected. Many of these factors are beyond the company'sability to control or predict. Important factors that may cause actualresults to differ materially and could impact the company and thestatements contained in this news release can be found in thecompany's filings with the Securities and Exchange Commissionincluding quarterly reports on Form 10-Q, current reports on Form 8-Kand annual reports on Form 10-K. For forward-looking statements inthis news release, the company claims the protection of the safeharbor for forward-looking statements contained in the PrivateSecurities Litigation Reform Act of 1995. The company assumes noobligation to update or supplement any forward-looking statementswhether as a result of new information, future events or otherwise.