AspenBio Pharma to Present at the Lazard Capital Markets 5th Annual Healthcare Conference in New York City on November 18

CASTLE ROCK, CO--(Marketwire - November 5, 2008) - AspenBio Pharma, Inc. (NASDAQ: APPY), an emerging bio-pharmaceutical company dedicated to the development of diagnostics and novel drugs for humans and animals, has been invited to present at the Fifth Annual Lazard Healthcare Conference to be held November 18-19, 2008 at the St. Regis in New York, New York.

AspenBio president and CEO Richard G. Donnelly is scheduled to present in the La Maisonette room, Lower Lobby on November 18, 2008 at 2:40 p.m. Eastern time. Mr. Donnelly will discuss the continued advancement of AppyScore™, the world's first blood-based screening/triage test for human appendicitis and will also comment on the progress of two additional formats of the appendicitis test in its product pipeline. The company is currently conducting an 800 patient FDA clinical trial and is on track to complete enrollment in the next several weeks and submit its FDA 510(k) application in early 2009.

The conference will feature 125 leading healthcare companies, five expert physician panel discussions, The Honorable Tommy G. Thompson as a featured speaker, and a "Conference Top Picks" panel with Lazard research analysts. For questions or additional information regarding the conference, please contact the 2008 Healthcare Conference Event Team at (646) 755-8001 or HealthcareConference@lazardcap.com.

About Lazard Capital Markets

Lazard Capital Markets LLC was formed in 2005 concurrent with the recapitalization of Lazard Group LLC and initial public offering of Lazard Ltd. The company continues all of the capital markets activities formerly conducted by Lazard Frères & Co. LLC. Lazard Capital Markets provides research, sales & trading, and underwriting in the areas of equity, fixed income and convertible securities. As a separate entity, Lazard Capital Markets maintains a business alliance agreement with Lazard Group for the continuation of certain historical relationships. Pursuant to such business alliance, their clients are offered tailored advice, strategies and solutions to corporations and governments worldwide to facilitate their access to public and private capital. The company is headquartered in New York, NY.

About AspenBio Pharma, Inc.

AspenBio Pharma is an emerging bio-pharmaceutical company dedicated to the discovery; development, manufacture, and marketing of novel proprietary products, including those that enhance the reproductive efficiency of animals and that have large worldwide market potential. The company was originally formed to produce purified proteins for diagnostic applications and has successfully leveraged this foundational science and technology expertise to rapidly develop an enviable late-stage pipeline of several novel reproduction hormone analogs for wide-ranging therapeutic use in animals of economic importance. AspenBio Pharma continues to advance the development and testing of its two first-generation blood-based human diagnostic tests designed to rapidly help diagnose or rule out acute appendicitis in patients complaining of abdominal pain. For more information, go to www.aspenbiopharma.com.

Forward-Looking Statements

This news release includes "forward-looking statements" of AspenBio Pharma, Inc. ("APPY") as defined by the Securities and Exchange Commission (the "SEC"). All statements, other than statements of historical fact, included in the press release that address activities, events or developments that APPY believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors APPY believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of APPY. Investors are cautioned that any such statements are not guarantees of future performance. Actual results or developments may differ materially from those projected in the forward-looking statements as a result of many factors, including statements regarding the ability to successfully complete the development of, obtain FDA approval for, cost effectively manufacture and generate revenues from the appendicitis test as well as the animal products under this agreement and other new products, execute agreements required to successfully advance the company's objectives, retain the scientific management team to advance the products, overcome adverse changes in market conditions and the regulatory environment, fluctuations in sales volumes, obtain and enforce intellectual property rights, and realization of intangible assets. Furthermore, APPY does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this news release should be considered in conjunction with the warnings and cautionary statements contained in APPY's recent filings with the SEC.