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| ü | Appointed      Thomas J. Tarlow as Vice President Regulatory Affairs and      Quality. |
|--------|----------------------------------------------------------------------------------------|

| ü | Phase      1 data on menadione topical lotion presented at 33rd Hawaii Dermatology      Seminar. |
|--------|--------------------------------------------------------------------------------------------------|

| ü | Presented      at 11th Annual BIO CEO & Investor  Conference. |
|--------|-------------------------------------------------------------------|

| ü | Announced      that an Independent Data Monitoring Committee (IDMC) continued to support      the acceptable safety profile observed with Marqibo and recommended that      the trial continue to completion perprotocol. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ü | Announced      new positive preliminary efficacy results from a planned interim analysis      of the ongoing pivotal rALLy clinical trial evaluating      Marqibo. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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This press release contains forward-looking statements within themeaning of the Private Securities Litigation Reform Act of 1995. Thesestatements are often, but not always, made through the use of words or phrasessuch as "anticipates," "expects," "plans," "believes," "intends," and similarwords or phrases. These forward-looking statements include without limitation,statements regarding, the timing progress and anticipated results of theclinical development, regulatory processes, potential clinical trialinitiations, potential IND and NDA filings and commercialization efforts ofHana's product candidates; statements regarding the expected benefits Marqibomay have for patients with relapsed ALL compared to existing therapies;statements regarding the availability of additional capital, including capitalsubject to Hana's existing loan facility; and statements regarding Hana'sefforts to enter into strategic collaborations regarding the development orcommercialization of its product candidates. Such statements involve risks anduncertainties that could cause Hana's actual results to differ materially fromthe anticipated results and expectations expressed in these forward-lookingstatements. These statements are based on current expectations, forecasts andassumptions that are subject to risks and uncertainties, which could causeactual outcomes and results to differ materially from these statements. Amongother things, there can be no assurances that any of Hana's development effortsrelating to its other product candidates will be successful, that Hana will beable to obtain regulatory approval of any of its product candidates, and thatthe results of clinical trials will support Hana's claims or beliefs concerningthe effectiveness of its product candidates. Additional risks that may affectsuch forward-looking statements include Hana's need to raise additional capitalto fund its product development programs to completion, Hana's reliance onthird-party researchers to develop its product candidates, and its lack ofexperience in developing and commercializing pharmaceutical products. Additionalrisks are described in the company's Annual Report on Form 10-K for the yearended December 31, 2008 filed with the Securities and Exchange Commission. Hanaassumes no obligation to update these statements, except as required bylaw.

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|                                                                                                                                                   |   | March      31,2009 |          |   | December      31,2008 |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|---------------|--------|-----------------------|--------|
| ASSETS                                                                                                                                                      |   | (Unaudited)        |          |   |                  |   |
| Current      assets:                                                                                                                                        |   |               |          |   |                  |   |
| Cash      and cash equivalents                                                                                                                              |   |               | $8,479,637    |   |                  |   | $13,999,080 |   |
| Available-for-sale      securities                                                                                                                          |   |               | 96,000        |   |                  |   | 128,000 |   |
| Prepaid      expenses and other current assets                                                                                                              |   |               | 132,423       |   |                  |   | 131,663 |   |
| Total      current assets                                                                                                                                   |   |               | 8,708,060     |   |                  |   | 14,258,743 |   |
|                                                                                                                                                   |   |               |          |   |                  |   |   |   |
| Property      and equipment, net                                                                                                                            |   |               | 359,157       |   |                  |   | 400,168 |   |
| Restricted      cash                                                                                                                                        |   |               | 125,000       |   |                  |   | 125,000 |   |
| Debt      issuance costs                                                                                                                                    |   |               | 1,328,662     |   |                  |   | 1,361,356 |   |
| Total      assets                                                                                                                                           |   |               | $10,520,879   |   |                  |   | $16,145,267 |   |
|                                                                                                                                                   |   |               |          |   |                  |   |   |   |
| LIABILITIES      AND STOCKHOLDERS' DEFICIT                                                                                                                  |   |               |          |   |                  |   |   |   |
| Current      liabilities:                                                                                                                                   |   |               |          |   |                  |   |   |   |
| Accounts      payable and accrued liabilities                                                                                                          |   |               | $4,393,265    |   |                  |   | $4,225,863 |   |
| Other      short-term liabilities                                                                                                                           |   |               | 62,947        |   |                  |   | 61,341 |   |
| Warrant      liabilities, short-term                                                                                                                        |   |               | 786,419       |   |                  |   | 1,450,479 |   |
| Total      current liabilities                                                                                                                              |   |               | 5,242,631     |   |                  |   | 5,737,683 |   |
| Notes      payable, net of discount                                                                                                                         |   |               | 16,995,655    |   |                  |   | 16,851,541 |   |
| Other      long-term liabilities                                                                                                                            |   |               | 33,606        |   |                  |   | 41,775 |   |
| Total      long term liabilities                                                                                                                            |   |               | 17,029,261    |   |                  |   | 16,893,316 |   |
| Total      liabilities                                                                                                                                      |   |               | 22,271,892    |   |                  |   | 22,630,999 |   |
| Commitments      and contingencies (Notes 4, 9 and 10):                                                                                                     |   |               |          |   |                  |   |   |   |
|                                                                                                                                                   |   |               |          |   |                  |   |   |   |
| Stockholders'      deficit:                                                                                                                                 |   |               |          |   |                  |   |   |   |
| Common      stock; $0.001 par value:                                                                                                                   |   |               |          |   |                  |   |   |   |
| 100,000,000      shares authorized, 32,451,184 and 32,386,130 shares issued and outstanding      at March 31, 2009 and December 31, 2008,respectively  |   |               | 32,451        |   |                  |   | 32,386 |   |
| Additional      paid-in capital                                                                                                                             |   |               | 104,824,478   |   |                  |   | 104,431,469 |   |
| Accumulated      other comprehensive income                                                                                                                 |   |               | 4,000         |   |                  |   | 36,000 |   |
| Accumulated      Deficit                                                                                                                                    |   |               | (116,611,942) |   |                  |   | (110,985,587) |   |
| Total      stockholders' deficit                                                                                                                            |   |               | (11,751,013)  |   |                  |   | (6,485,732) |   |
| Total      liabilities and stockholders' deficit                                                                                                            |   |               | $10,520,879   |   |                  |   | $16,145,267 |   |

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HANA BIOSCIENCES, INC.

|                                                                                      |   | Three Months       EndedMarch       31, |        |
|-------------------------------------------------------------------------------------------|--------|--------------------------------------------------------|-------------|
|                                                                                      |   | 2009                                                   |        |   | 2008 |   |
|                                                                                      |   |                                                   |        |   |   |   |
| Operating      expenses:                                                                  |   |                                                   |        |   |   |   |
| General      and administrative                                                           |   |                                                   | $1,107,889  |   |   |   | $1,900,920 |   |
| Research      and development                                                             |   |                                                   | 4,462,194   |   |   |   | 4,264,332 |   |
| Total      operating expenses                                                             |   |                                                   | 5,570,083   |   |   |   | 6,165,252 |   |
|                                                                                 |   |                                                   |        |   |   |   |   |   |
| Loss      from operations                                                                 |   |                                                   | (5,570,083  | ) |   |   | (6,165,252 | ) |
|                                                                                 |   |                                                   |        |   |   |   |   |   |
| Other      income (expense):                                                              |   |                                                   |        |   |   |   |   |   |
| Interest      income                                                                      |   |                                                   | 11,582      |   |   |   | 170,908 |   |
| Interest      expense                                                                     |   |                                                   | (727,007    | ) |   |   | (249,164 | ) |
| Other      expense, net                                                                   |   |                                                   | (4,907      | ) |   |   | (6,062 | ) |
| Change      in fair market value of warrant liabilities                                   |   |                                                   | 664,060     |   |   |   | (9,930 | ) |
|                                                                                      |   |                                                   |        |   |   |   |   |   |
| Total      other expense                                                                  |   |                                                   | (56,272     | ) |   |   | (94,248 | ) |
|                                                                                 |   |                                                   |        |   |   |   |   |   |
| Net      loss                                                                             |   |                                                   | $(5,626,355 | ) |   |   | $(6,259,500 | ) |
| Net      loss per share, basic and diluted                                                |   |                                                   | $(0.17      | ) |   |   | $(0.19 | ) |
| Weighted      average shares used in computing net loss per share, basic and      diluted |   |                                                   | 32,449,739  |   |   |   | 32,181,275 |   |
|                                                                                 |   |                                                   |        |   |   |   |   |   |
| Comprehensive      loss:                                                                  |   |                                                   |        |   |   |   |   |   |
| Net      loss                                                                             |   |                                                   | $(5,626,355 | ) |   |   | $(6,259,500 | ) |
| Unrealized      holdings (losses) gains arising during the period                         |   |                                                   | (32,000     | ) |   |   | 24,000 |   |
|                                                                                      |   |                                                   |        |   |   |   |   |   |
| Comprehensive      loss                                                                   |   |                                                   | $(5,658,355 | ) |   |   | $(6,235,500 | ) |

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