Northfield Laboratories Inc. Joins Russell 3000(R) Index EVANSTON, Ill., June 28 /PRNewswire-FirstCall/ -- Northfield Laboratories Inc. has been added to the Russell 3000(R) Index as of June 25, 2004 according to the final list of additions issued by Russell Investment Group. Membership in the Russell 3000 means automatic inclusion in either the large-cap Russell 1000(R) Index or small-cap Russell 2000(R) Index. "We're pleased to be included in the Russell 3000," said Steven A. Gould, M.D., Chairman and Chief Executive Officer. "We've worked hard to raise awareness of our progress over the past 12 months and are gratified at this recognition of all we've accomplished." Membership in Russell's 21 U.S. equity indexes is determined primarily by market capitalization rankings and style attributes. Russell indexes are widely used by managers for index funds and as benchmarks for both passive and active investment strategies. More than $360 billion is invested in index funds based on Russell's indexes and an additional $850 billion is benchmarked to them. Investment managers who oversee these funds purchase shares of member stocks according to that company's weighting in the particular index. Annual reconstitution of the Russell indexes captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000. The largest 1,000 companies in the ranking comprise the Russell 1000 Index while the remaining 2,000 companies become the widely used Russell 2000 Index. About Northfield Laboratories Northfield Laboratories Inc. is the leader in developing an oxygen- carrying blood substitute, PolyHeme(R), for the treatment of urgent, large volume blood loss in trauma and resultant surgical settings. PolyHeme(R) is a solution of chemically modified human hemoglobin that requires no cross matching and is therefore compatible with all blood types. It has a shelf life of over 12 months. Enrollment is currently underway in a pivotal Phase III trial of PolyHeme(R) in the pre-hospital setting. For further information, visit the website at http://www.northfieldlabs.com/. About Russell Russell, a global leader in multi-manager investment services, provides investment products and services in more than 35 countries. Russell manages more than $107 billion in assets and advises clients worldwide representing $1.8 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo. For more information, go to http://www.russell.com/. Statements in this release that are not strictly historical are "forward- looking" statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, which may cause the company's actual results in the future to differ materially from expected results. These risks include, among others: competition from other blood substitute products; the company's ability to obtain regulatory approval to market PolyHeme(R) commercially; the availability of capital to finance the company's planned clinical trials and ongoing business operations; the company's and/or its representative's ability to successfully market and sell PolyHeme(R); the company's ability to manufacture PolyHeme(R) in sufficient quantities; the company's ability to obtain an adequate supply of raw materials; the company's ability to maintain intellectual property protection for its proprietary product and to defend its existing intellectual property rights from challenges by third parties; the extent to which the hospitals and physicians using PolyHeme(R) are able to obtain third-party reimbursement; and the other risks and uncertainties described in the company's filings with the Securities and Exchange Commission. Steven A. Gould, M.D. Sharon L. Weinstein Chairman and Chief Executive Officer (212) 845-4271 (847) 864-3500 Sophia H. Twaddell Vice President, Corporate Communications (847) 864-3500 DATASOURCE: Northfield Laboratories Inc. CONTACT: Steven A. Gould, M.D., Chairman and Chief Executive Officer, or Sophia H. Twaddell, Vice President, Corporate Communications, , both of Northfield Laboratories Inc., +1-847-864-3500; Sharon L. Weinstein, +1-212-845-4271, , for Northfield Laboratories Inc. Web site: http://www.northfieldlabs.com/ http://www.russell.com/

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