[ATHEROGENICS LOGO]





FOR IMMEDIATE RELEASE





AtheroGenics, Inc.           Media Inquiries                 Investor Relations

Mark Colonnese               Sara Floor                            Lilian Stern

Chief Financial Officer      Fleishman Hillard         Stern Investor Relations

678-336-2500                 404-739-0103                          212-362-1200





                 ATHEROGENICS ANNOUNCES ADOPTION OF SHAREHOLDER

                                  RIGHTS PLAN



ATLANTA, GA - November 9, 2001 - AtheroGenics, Inc. (Nasdaq: AGIX), an emerging

pharmaceutical company focused on the treatment of chronic inflammatory

diseases, today announced that its Board of Directors has adopted a Shareholder

Rights Plan declaring a dividend distribution of one common stock purchase

right on each outstanding share of its common stock.



The action taken by the Board of Directors is designed to protect the long-term

value of shareholders' and employees investment in AtheroGenics, to assure that

all shareholders receive fair and equal treatment in the event of any proposed

takeover and to guard against partial tender offers, squeeze-outs, open market

accumulations and other coercive tactics to gain control of AtheroGenics

without paying all shareholders a fair control premium. The Company is not

aware of any current attempt to acquire control of AtheroGenics.



Until the rights become exercisable, the rights will trade automatically with

the common stock of AtheroGenics and separate rights certificates will not be

issued. Pursuant to the rights plan, each right consists of an initial right

and subsequent rights. Initial rights will be exercisable only if a person or

group acquires 15% or more of AtheroGenics' common stock, whether through open

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