Hawthorne, NY July 6, 2004 - Acorda Therapeutics announced today that Jane Wasman, J.D., has joined the Company as Executive Vice President, General Counsel and Corporate Secretary. This is a new position reporting to the President/CEO. In her role, Ms. Wasman will be responsible for overseeing all legal and intellectual property matters pertaining to the Company.

Ms. Wasman most recently was Staff Vice President and Associate General Counsel at Schering-Plough Corporation, supporting U.S. pharmaceuticals operations, including sales and marketing programs and related commercial and compliance activities, FDA regulatory matters, and research and development activities. Among previous roles at Schering-Plough, she headed the International Legal Group. Prior to joining Schering-Plough, Ms. Wasman was a litigation attorney at Fried, Frank, Harris, Shriver & Jacobson where she was involved in all aspects of commercial litigation, including securities, business fraud, environmental, product liability and commercial disputes. Ms. Wasman earned her J.D. from Harvard Law School and her undergraduate degree from Princeton University, Magna Cum Laude.

Ron Cohen, M.D., President and CEO of Acorda Therapeutics commented, “Jane Wasman has an outstanding record of accomplishment and deep experience across all aspects of commercial pharmaceutical operations. We are delighted to welcome her as a key addition to Acorda's management team.”

Acorda Therapeutics, a privately-held biotechnology company, is developing therapies for spinal cord injury (SCI), multiple sclerosis (MS) and related conditions of the nervous system. The Company's lead product, Fampridine-SR, is being developed in human clinical trials for both MS and SCI. The Company's clinical-stage pipeline also includes valrocemide, which it is developing with Teva Pharmaceutical Industries Ltd. for the treatment of epilepsy and bipolar disorder. Additionally, Acorda is developing multiple approaches to the regeneration and repair of the spinal cord and brain.