SIGA Announces a $3.2 Million Contract with the United States Army Medical Research and Material Command

SIGA Technologies, Inc. (NASDAQ: SIGA) announced todaythat it has entered into a $3.2 million, one year contract with theUnited States Army Medical Research and Material Command (USAMRMC).The agreement, for the rapid identification and treatment ofanti-viral diseases, is funded through the United States Air Force(USAF). SIGA's efforts will aid the USAF Special Operations Command inits use of computational biology to design and develop specificcountermeasures against the biological threat agents Smallpox andAdenovirus. Smallpox is a Center for Disease Control and Prevention(CDC) Category A biothreat agent, and Adenovirus is a cause ofsignificant respiratory infectious disease, both of which may impairthe combat readiness of USAF Personnel.

SIGA's computational approach to the development ofcountermeasures is designed to interface with USAF programs for theidentification of potential agents of bioterrorism, and will provide akey building block in the foundation of a rapid response capability tobiological threat agents. War-fighters and special operations forces,in particular, may be called upon to operate in environmentscontaining known or unknown pathogens. Until these pathogens can beaccurately identified and neutralized, our war fighters, SpecialOperations Forces and our nation remain vulnerable to the release ofboth natural and engineered viral pathogens.

"I am very excited about our relations with the USAF and SIGA'sability to participate in an effort which, I believe, is of crucialimportance to our nation," said SIGA's CEO, Dr. Bernard L. Kasten. "Isee a clear opportunity to continue working with the USAF in thefuture and to further advance SIGA's antiviral counter measureprograms."

"We welcome the opportunity to work with our USAF colleagues todevelop this important biological defense capability", said Dr. DennisE. Hruby, Chief Scientific Officer of SIGA.

About SIGA Technologies, Inc.

SIGA Technologies is applying viral and bacterial genomics andsophisticated computational modeling in the design and development ofnovel products for the prevention and treatment of serious infectiousdiseases, with an emphasis on products for biological warfare defense.SIGA has the potential to become a significant force in the discoveryof vaccine and pharmaceutical agents to fight emerging pathogens.SIGA's product development programs emphasize the increasingly seriousproblem of drug resistant bacteria and emerging pathogens. SIGA'svaccine and drug platforms are based on its pioneering research intothe structure, function and processing of bacterial surface proteins.In addition to smallpox, SIGA also has antiviral programs targetingother Category A pathogens which cause hemorrhagic fevers. Includedare the arenaviruses (Lassa Fever Virus, Junin, Macupo, Guanarito, andSabia), Lymphocytic choriomeningitis virus (LCMV), Dengue, and thefiloviruses, Ebola and Marburg. For more information about SIGA,please visit SIGA's Web site at www.siga.com.

Forward-looking statements

This Press Release contains certain "forward-looking statements''within the meaning of the Private Securities Litigation Reform Act of1995, as amended, including statements regarding the efficacy ofpotential products, the timelines for bringing such products to marketand the availability of funding sources for continued development ofsuch products. Forward-looking statements are based on management'sestimates, assumptions and projections, and are subject touncertainties, many of which are beyond the control of SIGA. Actualresults may differ materially from those anticipated in anyforward-looking statement. Factors that may cause such differencesinclude the risks that (a) potential products that appear promising toSIGA or its collaborators cannot be shown to be efficacious or safe insubsequent pre-clinical or clinical trials, (b) SIGA or itscollaborators will not obtain appropriate or necessary governmentalapprovals to market these or other potential products, (c) SIGA maynot be able to obtain anticipated funding for its development projectsor other needed funding, and (d) SIGA may not be able to securefunding from anticipated government contracts and grants, (e) SIGA maynot be able to secure or enforce adequate legal protection, includingpatent protection, for its products and (f) unanticipated internalcontrol deficiencies or weaknesses or ineffective disclosure controlsand procedures. More detailed information about SIGA and risk factorsthat may affect the realization of forward-looking statements,including the forward-looking statements in this Press Release and theabove mentioned presentation, is set forth in SIGA's filings with theSecurities and Exchange Commission, including SIGA's Annual Report onForm 10-K for the fiscal year ended December 31, 2004, and in otherdocuments that SIGA has filed with the Commission. SIGA urgesinvestors and security holders to read those documents free of chargeat the Commission's Web site at http://www.sec.gov. Interested partiesmay also obtain those documents free of charge from SIGA.Forward-looking statements speak only as to the date they are made andexcept for our obligations under the U.S. federal securities laws, weundertake no obligation to publicly update any forward-lookingstatements as a result of new information, future events or otherwise.