NEW YORK, July 20, 2011 /PRNewswire/ — Delcath Systems, Inc.
(NASDAQ:
DCTH) today announced it has closed its previously announced
offering of 5,000,000 common shares at a price to the public of
$5.05 per share.  Delcath has granted Jefferies & Company,
Inc., the sole book-runner for the offering, an over-allotment
option to purchase up to an additional 750,000 common shares on the
same terms and conditions for up to 30 days after the date of the
offering, July 14, 2011.

Delcath received proceeds, net of offering expenses and
underwriting discounts and commissions, of approximately $23.5
million.  The Company intends to use the net proceeds from the
sale of the shares for general corporate purposes, including, but
not limited to, commercialization of its products, obtaining
regulatory approvals, funding of its clinical trials, capital
expenditures and working capital.

The offering was made pursuant to an effective shelf
registration statement. Before you invest, you should read the base
prospectus in such shelf registration statement, the prospectus
supplement, when available, and other documents the Company has
filed with the Securities and Exchange Commission for more complete
information about the Company and this offering. The offering may
be made only by means of a prospectus supplement and the
accompanying prospectus, copies of which may be obtained by sending
a request to the offices of Jefferies & Company, Inc.,
Attention: Syndicate Prospectus Department, 520 Madison Avenue, New
York, New York 10022 or at (888) 449-2342. Alternatively, you may
get these documents for free by visiting EDGAR on the SEC website
at http://www.sec.gov/.

This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any of the securities, nor shall
there be any sale of these securities, in

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