Spherix Holds Annual Shareholders Meeting

BETHESDA, Md., May. 14 /PRNewswire/ --

BETHESDA, Md., May 14 /PRNewswire-FirstCall/ -- At their 2008 Annual Meeting, shareholders of Spherix Incorporated elected the following members to the Board of Directors:

-- Douglas T. Brown, Senior VP and Manager of Corporate Banking Government Contracting, PNC Bank -- A. Paul Cox, Jr., Principal, Asset Protection Company -- Claire L. Kruger, Chief Executive Officer and Chief Operating Officer, Spherix -- Gilbert V. Levin, Ph.D., Director of Science and Technology, Spherix -- Robert A. Lodder, Jr., President, Spherix; and Professor, College of Pharmacy, University of Kentucky -- Aris Melissaratos, Senior Advisor to the President of Johns Hopkins University -- Robert J. Vander Zanden, Ph.D., former Vice President, R&D, Kraft Foods International

In addition, Grant Thornton LLP was ratified as the Company's independent accountants for the year 2008.

Claire Kruger told the shareholders that Spherix management is focused and will continue to focus on the path forward necessary to bring Naturlose to market as a drug to treat Type 2 diabetes. To this end, three crucial activities are being undertaken in parallel:

1) Optimizing the efficiency and effectiveness of the clinical trial program; 2) Evaluating the diabetes drug market potential to determine opportunity and provide a clear understanding of our potential value; 3) Assuring supplies of tagatose, both the cGMP batches needed for the NDA as well as a supplier to hold the Drug Master File once FDA approval has been achieved.

At a Board of Directors meeting later the same day, the following slate of Corporate Officers was elected:

-- Paul Cox, Chairman of the Board -- Claire Kruger, Chief Executive Officer and Chief Operating Officer -- Robert Lodder, President -- Robert Clayton, Interim Chief Financial Officer and Treasurer -- Katherine Brailer, Corporate Secretary and Director of Administrative Services

Certain statements contained herein are "forward looking" statements as defined in the Private Securities Litigation Reform Act of 1995. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied. Factors that could cause actual results to differ materially from those expressed or implied include, but are not limited to, those discussed in filings by the Company with the Securities and Exchange Commission, including the filing on Form 8-K made on October 10, 2007.

Spherix's mission is to create value and increase shareholder wealth through innovations that benefit our clients and the human condition. Spherix offers innovations in biotechnology, and provides technical and regulatory consulting services to biotechnology and pharmaceutical companies.

Spherix's Internet address is http://www.spherix.com.