DURECT Corporation Presenting at the C. E. Unterberg, Towbin Emerging Growth Conference

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CUPERTINO, Calif., July 12 /PRNewswire-FirstCall/ — DURECT Corporation
(Nasdaq: DRRX) announced today that it will present at the C. E. Unterberg,
Towbin Emerging Growth Conference. The conference is being held at The
Mandarin Oriental Hotel in New York, NY. Dr. James E. Brown, President and
Chief Executive Officer, will be presenting at the conference on Wednesday,
July 13, 2005 at 9:15 a.m. EST.

A live audio webcast of the presentation will be available by accessing
DURECT’s homepage at http://www.www.durect.com and clicking “Investor Relations.”

About DURECT Corporation

DURECT Corporation is an emerging specialty pharmaceutical company focused
on the development of pharmaceutical systems based on its proprietary drug
delivery platform technologies that treat chronic debilitating diseases and
enable biotechnology products. These platform technologies include the
SABER(TM) Delivery System (a patented and versatile depot injectable useful
for protein and small molecule delivery), the ORADUR(TM) sustained release
oral gel-cap technology (an oral sustained release technology with several
potential abuse deterrent properties), the DURIN(TM) Biodegradable Implant
(drug-loaded implant system), the TRANSDUR(TM) transdermal technology and the
MICRODUR(TM) Biodegradable Microparticulates (microspheres injectable system).
DURECT also collaborates with pharmaceutical companies to develop and
commercialize proprietary and enhanced pharmaceutical products based on its
technologies. DURECT has five disclosed on-going development programs of
which four are in collaboration with pharmaceutical partners. Additional
information about DURECT is available at www.www.durect.com.

NOTE: SABER(TM), ORADUR(TM), DURIN(TM), TRANSDUR(TM) and MICRODUR(TM) are
trademarks of DURECT Corporation. Other referenced trademarks belong to their
respective owners.

DURECT Forward-Looking Statement

The statements in this press release regarding DURECT’s products in
development, anticipated product benefits and product development and clinical
trial plans are forward-looking statements involving risks and uncertainties
that can cause actual results to differ materially from those in such forward-
looking statements. Potential risks and uncertainties include, but are not
limited to, DURECT’s ability to complete the design, development, and
manufacturing process development of the product candidate, obtain product and
manufacturing approvals from regulatory agencies and manufacture and
commercialize the product candidate, as well as marketplace acceptance of the
product candidate. Further information regarding these and other risks is
included in DURECT’s Quarterly Report on Form 10-Q for the quarter ended March
31, 2005 filed with the SEC on May 6, 2005 under the heading “Factors that may
affect future results.”

SOURCE DURECT Corporation

07/12/2005

CONTACT:
Schond L. Greenway, Executive Director, Investor Relations and
Strategic Planning of DURECT Corporation, 408-777-1417

/Web site: http://www.www.durect.com /

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