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AtheroGenics and AstraZeneca Win Best Partnership Alliance of the Year at Annual Scrip Awards

AtheroGenics, Inc. (NASDAQ: AGIX), a pharmaceutical company focused on the treatment of chronic inflammatory diseases, today announced winning the "Best Partnership Alliance of the Year" award with AstraZeneca at the Annual Scrip Awards Dinner on Wednesday, November 15, 2006 at the Grosvenor House in London, England.

This international partnership alliance award is in recognition of AtheroGenics' collaboration with AstraZeneca to develop and commercialize AGI-1067 for coronary artery disease.

"We are honored to receive this award, which recognizes the significance of the alliance formed between AstraZeneca and AtheroGenics to bring forward what we both hope will be an important new drug for the treatment of heart disease," said Russell M. Medford, M.D., Ph.D., President and CEO of AtheroGenics, Inc.

The Annual Scrip Awards were developed by the editorial team at Scrip and industry leaders to recognize and celebrate excellence in the pharmaceutical and biotechnology industries globally.

About AtheroGenics

AtheroGenics is focused on the discovery, development and commercialization of novel drugs for the treatment of chronic inflammatory diseases, including heart disease (atherosclerosis), rheumatoid arthritis and asthma. The Company has two drug development programs currently in the clinic. AtheroGenics' lead compound, AGI-1067, is being evaluated in the pivotal Phase III ARISE clinical trial as an oral therapy for the treatment of atherosclerosis, in collaboration with AstraZeneca. AGI-1096 is a novel, oral agent in Phase I that is being developed for the prevention of organ transplant rejection in collaboration with Astellas. AtheroGenics also has preclinical programs in rheumatoid arthritis and asthma utilizing its proprietary vascular protectant® technology. For more information about AtheroGenics, please visit http://www.atherogenics.com.

This press release may contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in this press release that relate to events or developments that we expect or anticipate will occur in the future are deemed to be forward-looking statements, and can be identified by words such as "believes," "intends," "expects" and similar expressions. Such statements are subject to certain factors, risks and uncertainties that may cause actual results, events and performances to differ materially from those referred to in such statements. These risks include statements which address operating performance, events or developments that we expect or anticipate will occur in the future, such as projections about clinical trial results, our future results of operations or our financial condition, research, development and commercialization of our product candidates, anticipated trends in our business, and other risks that could cause actual results to differ materially. These and other risks are discussed in AtheroGenics' Securities and Exchange Commission filings, including, but not limited to, the risks discussed in AtheroGenics' Annual Report on Form 10-K for the fiscal year ended December 31, 2005, and our Quarterly Report on Form 10-Q for the third quarter of 2006. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

Corporate Communications: Donna L. Glasky AtheroGenics, Inc. 678-336-2517 Email Contact

Media Inquiries: Jayme Maniatis Schwartz Communications, Inc. 781-684-0770 Email Contact

Investor Inquiries: Lilian Stern Stern Investor Relations, Inc. 212-362-1200 Email Contact

SOURCE:  AtheroGenics

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