Representatives from USAMRIID and CDC Also Expected to Present Animal Study Data and Chicago Eczema Vaccinatum Case Study Information

New York, New York November 26, 2007 - SIGA Technologies, Inc. (NASDAQ: SIGA), a company specializing in the development of pharmaceutical agents to fight biowarfare pathogens and protect the population at large, today announced that its Chief Scientific Officer, Dr. Dennis Hruby, will be presenting information regarding the company’s progress in developing its lead drug candidate, ST-246, to the WHO Advisory Committee on Variola Virus Research on November 28, 2007 in Geneva, Switzerland.

Commenting on the WHO presentation, Hruby stated, "This year’s presentation to the WHO is of particular significance to SIGA.  In conjunction with our research partners in the United States, we have made substantial strides during the course of the year in the preparation of ST-246 for the approval of a New Drug Application (NDA) from the Food and Drug Administration (FDA).  We have also begun the process of regulatory submissions for the European Union as we believe a number of countries in the EU can and will procure ST-246 as part of their own strategic stockpile programs. We plan to parallel track European approval activities with those ongoing with the FDA and expect that our presentation of ST-246 data to the WHO, along with our colleagues from USAMRIID and the CDC, will help update the European regulatory body as to our progress."

"In the United States smallpox has been declared a material threat of the highest level to our nation’s security.  It is an ideal bio-weapon that is easy to grow, easy to spread and does not become symptomatic until more than two weeks after contact, making the potential for global delivery a very real scenario with devastating human health and economic consequences.  The importance of this work cannot be underestimated as mass immunizations of the general population using the current live vaccines are not recommended.  Available vaccines are known to cause complications in certain individuals, including encephalitis, myocarditis, disseminated vaccinia virus infection, and death. At present there is no approved treatment for smallpox that can be safely administered to the general population without significant risk of adverse reactions," Hruby concluded.

SIGA Technologies is applying viral and bacterial genomics and sophisticated computational modeling in the design and development of novel products for the prevention and treatment of serious infectious diseases, with an emphasis on products for biological warfare defense.  SIGA believes that it is a leader in the development of pharmaceutical agents to fight potential biowarfare pathogens.  In addition to smallpox, SIGA has antiviral programs targeting other Category A pathogens, including arenaviruses (Lassa fever, Junin, Machupo, Guanarito, Sabia, and lymphocytic choriomeningitis), dengue virus, and the filoviruses (Ebola and Marburg). For more information about SIGA, please visit SIGA’s Web site at http://www.siga.com.

This Press Release contains or implies certain "forward-looking statements’’ within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding the efficacy of potential products, the timelines for bringing such products to market, and the availability of funding sources for continued development of such products.  Forward-looking statements are based on management’s estimates, assumptions and projections, and are subject to uncertainties, many of which are beyond the control of SIGA.  Actual results may differ materially from those anticipated in any forward-looking statement.  Factors that may cause such differences include the risks that (a) potential products that appear promising to SIGA or its collaborators cannot be shown to be efficacious or safe in subsequent pre-clinical or clinical trials, (b) SIGA or its collaborators will not obtain appropriate or necessary domestic or international governmental approvals to market these or other potential products, ^© SIGA may not be able to obtain anticipated funding for its development projects or other needed funding, (d) SIGA may not be able to secure funding from anticipated government contracts and grants, (e) SIGA may not be able to secure or enforce adequate legal protection, including patent protection for its products and (f) regulatory approval for SIGA’s products may require further or additional testing that will delay or prevent approval. More detailed information about SIGA and risk factors that may affect the realization of forward-looking statements, including the forward-looking statements in this Press Release, is set forth in SIGA’s filings with the Securities and Exchange Commission, including SIGA’s Annual Report on Form 10-K for the fiscal year ended December 31, 2006, and in other documents that SIGA has filed with the Commission.  SIGA urges investors and security holders to read those documents free of charge at the Commission’s Web site at http://www.sec.gov.  Interested parties may also obtain those documents free of charge from SIGA.  Forward-looking statements speak only as to the date they are made, and, except for any obligation under the U.S. federal securities laws, SIGA undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.