As part of its annual sales meeting being held in New Orleans for the first time, Indevus Pharmaceuticals (Nasdaq: IDEV), a specialty pharmaceutical company based in Lexington, Massachusetts, is dispatching 125 sales representatives to the 1900 and 2000 blocks of 6th St. in Central City on March 20 from 9:00-3:30 p.m. to help landscape a number of homes for Jericho Road Episcopal Housing Initiative, a faith-based nonprofit organization that provides families and individuals affordable home ownership opportunities in New Orleans.

"Our mission is to enrich the lives of patients and we can relate to Jericho's dedication to improving the lives of Central City residents," said Kurt Lewis, senior vice president of sales & marketing, Indevus. "By having our annual sales meeting here and partnering with Jericho, we want to inspire other companies to hold their events in New Orleans and to bring their helping hearts and hands."

Jericho's partner, Crossroads Missions, a nonprofit ministry, will be on site to manage the project and Cafe Reconcile, a nonprofit group that provides training and support for at-risk youth to enter the hospitality and restaurant industries, will serve lunch for the Indevus volunteers at 12:00 p.m.

"What Indevus will accomplish in one day will have a long lasting impact on the lives of Central City residents," said Brad Powers, executive director, Jericho. "We hope that other companies across the country will follow Indevus' lead and lend their time and energy to helping New Orleans families find the American Dream of home ownership."

About Indevus Pharmaceuticals, Inc.

Indevus Pharmaceuticals, Inc. is a specialty pharmaceutical company engaged in the acquisition, development and commercialization of products to treat conditions in urology and endocrinology. The Company's approved products include SANCTURA XR(TM) and SANCTURA(R) for overactive bladder, VANTAS(R) for advanced prostate cancer, SUPPRELIN(R) LA for central precocious puberty, and DELATESTRYL(R) to treat male hypogonadism. The Indevus development pipeline contains multiple compounds within the Company's core therapeutic areas in addition to several partnered or partnerable programs. The most advanced compounds in development include, VALSTAR(TM) for bladder cancer, NEBIDO(R) for male hypogonadism, PRO 2000 for the prevention of infection by HIV and other sexually-transmitted pathogens, octreotide for acromegaly, and pagoclone for stuttering.

About the Jericho Road Episcopal Housing Initiative

The Jericho Road Episcopal Housing Initiative creates quality homes for families in the City of New Orleans. Jericho Road was formed in March 2006 and is a partnership of the Episcopal Diocese of Louisiana and Episcopal Relief and Development (ERD). ERD, the international relief and development agency of the Episcopal Church, focuses on three program areas- emergency relief and rebuilding, food security and primary health. ERD is providing technical support to Jericho Road and supplied the initial funding totaling $2.3 million which will be used for administrative management, property acquisition, and construction. The funding from ERD combined with planned financing from various community development corporations will result in an investment in the New Orleans Central City neighborhood of over $20 million.

Forward Looking Statements

Except for the descriptions of historical facts contained herein, this press release contains forward-looking statements that involve risks and uncertainties that could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties are set forth in the Company's filings under the Securities Act of 1933 and the Securities Exchange Act of 1934 under "Risk Factors" and elsewhere, and include, but are not limited to: dependence on the success of SANCTURA, SANCTURA XR, NEBIDO, VANTAS and SUPPRELIN LA; effectiveness of our sales force; competition and its effect on pricing, spending, third-party relationships and revenues; dependence on third parties for supplies, particularly for histrelin, manufacturing, marketing, and clinical trials; risks associated with being a manufacturer of some of our products; risks associated with contractual agreements, particularly for the manufacture and co-promotion of SANCTURA and SANCTURA XR and the manufacture of NEBIDO, VANTAS, SUPPRELIN LA and VALSTAR; reliance on intellectual property and having limited patents and proprietary rights; dependence on market exclusivity, changes in reimbursement policies and/or rates for SANCTURA, SANCTURA XR, VANTAS, SUPPRELIN LA, DELATESTRYL and any future products; acceptance by the healthcare community of our approved products and product candidates; uncertainties relating to clinical trials, regulatory approval and commercialization of our products, particularly SANCTURA XR, NEBIDO, and VALSTAR; product liability and insurance uncertainties; risks relating to the Redux-related litigation; need for additional funds and corporate partners, including for the development of our products; history of operating losses and expectation of future losses; uncertainties relating to controls over financial reporting; difficulties in managing our growth; valuation of our Common Stock; risks related to repayment of debts; risks related to increased leverage; general worldwide economic conditions and related uncertainties; and other risks. Indevus undertakes no obligation to publicly update any forward- looking statement, whether as a result of new information, future events or otherwise.