Kenneth Carter Ph.D., President & CEO of Avalon Pharmaceuticals, Inc.,
Rings The NASDAQ Stock Market Closing Bell

Monday, March 27, 2006
at NASDAQ's MarketSite
in New York City.

Avalon Pharmaceuticals, Inc.

Kenneth Carter Ph.D., President & CEO of Avalon Pharmaceuticals, Inc., presides over the closing bell. Avalon Pharmaceuticals is a biopharmaceutical company focused on the discovery and development of small molecule therapeutics for the treatment of cancer. Avalon seeks to discover and develop novel therapeutics through the use of a comprehensive, innovative and proprietary suite of technologies based upon large-scale gene expression analysis which it calls AvalonRx®.

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Click for larger pictures of the NASDAQ MarketSite. Additional Photographs for 3/27/2006 Download Hi-Res Quality Photo of this NASDAQ Market Close - Pictured: Kenneth Carter Ph.D., President & CEO of Avalon Pharmaceuticals, Inc., signs in at the Closing Bell. These photos are Copyright 2006, The Nasdaq Stock Market Inc. and available for re-publication by the news media only. Any commercial use is strictly prohibited without the prior written consent of The Nasdaq Stock Market Inc. © Copyright 2006, The NASDAQ Stock Market, Inc. Reprinted with the permission of The Nasdaq Stock Market, Inc.