[March 13, 2014]

SHAREHOLDER ALERT: Investigation of CytRx Corporation Announced by Law Offices of Howard G. Smith

Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of CytRx Corporation ("CytRx" or the "Company") (NASDAQ:CYTR) concerning possible violations of federal securities laws. The investigation focuses on the Company's operations and financial performance and prospects.

CytRx is a biopharmaceutical research and development company specializing in oncology. The Company's oncology pipeline includes two programs, aldoxorubicin and tamibarotene, which are in clinical development for cancer indications. The investigation is related to an article published March 13, 2014, on SeekingAlpha.com, alleging that the Company hired a promoter - The DreamTeam Group - to tout CytRx stock without disclosing that it was paid by the Company to promote the stock. The article further alleges that the articles were written under multiple aliases and coordinated with the release of news and data from the Company to interpret and amplify the effect of the news.

If you purchased CytRx Corporation shares before March 13, 2014, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.

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