Lorus Therapeutics Inc., a biopharmaceutical company specializing in the research and development of pharmaceutical products and technologies for the management of cancer, announced today that in accordance with the authority granted by shareholders at the Company's annual and special meeting on November 30, 2009 to permit it to implement a consolidation of the Company's outstanding common shares in a ratio of between 1-for-10 and 1-for-50 at any time prior to November 30, 2010, its Board of Directors has approved a 1-for-30 share consolidation. The timing for the effective date for the share consolidation and the date upon which common shares are expected to begin trading on the Toronto Stock Exchange on a consolidation-adjusted basis will be announced in a subsequent news release. The share consolidation affects all of Lorus' common shares, stock options and warrants outstanding at the effective time. Fractional shares will not be issued. In the event that a shareholder would otherwise be entitled to receive a fractional share upon the share consolidation, such fraction will be rounded down to the nearest whole number. The post-consolidation common shares will be represented by a new CUSIP, but there will be no changes in the stock symbols of the Company.

Letters of transmittal with respect to the consolidation will be mailed to all of the Corporation's registered shareholders shortly. All registered shareholders will be required to send the certificates representing their pre-consolidated common shares, along with a properly executed letter of transmittal, to the Corporation's registrar and transfer agent, Computershare Investor Services Inc. all in accordance with the instructions provided in the letter of transmittal. Additional copies of the letter of transmittal can be obtained through Computershare at 1-800-564-6253 begin_of_the_skype_highlighting              1-800-564-6253      end_of_the_skype_highlighting. All shareholders who submit a completed letter of transmittal along with their respective pre-consolidated share certificates to Computershare will receive their post-consolidated shares.

This news release is not an offer to sell or the solicitation of an offer to buy any securities of Lorus in the United States or in any other jurisdiction where an offer is unlawful.

About Lorus

Lorus is a biopharmaceutical company focused on the research and development of novel therapeutics in cancer. Lorus' goal is to capitalize on its research, preclinical, clinical and regulatory expertise by developing new drug candidates that can be used, either alone, or in combination with other drugs, to successfully manage cancer. Lorus Therapeutics Inc. is listed on the Toronto Stock Exchange under the symbol LOR and on the OTCBB under the symbol LRUSF.

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