Market Overview

Vical Transfers to NASDAQ Global Select Market

Vical (NASDAQ: VICL) today announced that, effective today, January 2, 2013, listing of the company's common stock will be transferred to the NASDAQ Global Select Market, the highest of the three market tiers at NASDAQ. Listing on the NASDAQ Global Select Market is reserved for companies that meet the highest quantitative and qualitative listing standards, reflecting their demonstrated commitments to leadership and good governance.

"We are honored to be recognized by NASDAQ for our established record of sound management and fiscal responsibility," said Vijay B. Samant, Vical's President and Chief Executive Officer, "and pleased that Vical has joined the top tier of the NASDAQ Stock Market. We remain focused on building long-term value for shareholders through the development of novel biopharmaceutical products."

NASDAQ-listed companies are classified under three listing tiers: NASDAQ Global Select Market, NASDAQ Global Market, and NASDAQ Capital Market. Vical common shares previously traded on the NASDAQ Global Market and, following transfer to the NASDAQ Global Select Market, will continue to trade under the ticker symbol VICL.

About Vical

Vical researches and develops biopharmaceutical products based on its patented DNA delivery technologies for the prevention and treatment of serious or life-threatening diseases. Potential

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