Press Release

Stellar's Common Shares Now Trading on OTCQB

LONDON, ONTARIO -- (MARKET WIRE) -- Mar 07, 2011 -- Stellar Pharmaceuticals Inc. ("Stellar" or "Company") (OTCQB: SLXCF), a Canadian pharmaceutical developer and marketer of high quality, cost-effective products for select health care markets, today announced that, as of February 23, 2011, the Company's common shares ceased trading on the OCTBB and began trading on the OTCQB under the ticker symbol SLXCF.

This change was not caused by any action or inaction by Stellar. The Company has learned that, over the past few weeks, certain market makers, including those that have traditionally traded Stellar's stock, have stopped using the OTCBB in favor of trading on OTC Markets Group's competing OTCQB platform. For accurate price and volume trading information, investors are encouraged to visit: http://www.otcmarkets.com/stock/SLXCF/quote

About OTC Markets Group

OTC Markets Group operates the world's largest electronic interdealer quotation system for broker-dealers to trade unlisted securities. The OTC marketplace is organized into three tiers based on the level of disclosure companies choose to provide to investors:

--  OTCQX - the quality-controlled marketplace 
--  OTCQB - the U.S. registered and reporting marketplace 
--  OTC Pink - the speculative trading marketplace 

The OTC Markets Groups services create a more efficient and transparent marketplace for traders, issuers and investors. For further information, please visit www.otcmarkets.com.

About Stellar Pharmaceuticals Inc.

Stellar has developed and is marketing direct in Canada and in countries around the world through out-license agreements two products based on its core polysaccharide technology: NeoVisc®, for the treatment of osteoarthritis; and Uracyst®, its patented technology for treatment of interstitial cystitis/painful bladder syndrome, an inflammatory disease of the urinary bladder wall. Stellar also has in-licensing agreement for the distribution and sale of NMP22® BladderChek®, a proteomics-based diagnostic test for the diagnosis and monitoring of bladder cancer.

Forward-looking Statements

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the Company's business including increased competition; the ability of the Company to expand its operations, to attract and retain qualified professionals, technological obsolescence; general economic conditions; and other risks detailed from time to time in the Company's filings.

Contacts:
Stellar Pharmaceuticals Inc.
Arnold Tenney
President & CEO
800-639-0643 or 705-445-9505