MEDIA INFORMATION FOR IMMEDIATE RELEASE Contact Information At GeoVax Labs, Inc. At Financial Relations Board Robert McNally or Melanie Nimrodi: 312-546-3508 Jennifer Nelms mnimrodi@frbir.com or 404-727-0971 Tim Grace: 3

FORM 8-K EXHIBIT 99.1

GEOVAX SECURES $10 MILLION FINANCING COMMITMENT

ATLANTA, GA, May 12, 2008 GeoVax Labs, Inc. (OTC BB: GOVX) an Atlanta- based HIV/AIDS vaccine

development company, announced today that it has entered into a $10 million common stock purchase

agreement with Fusion Capital Fund II, LLC, a Chicago-based institutional investor.

The Company may sell up to $10 million of its common stock to Fusion Capital from time to time over

a 25-month period after the Securities and Exchange Commission has declared effective a

registration statement related to the transaction. GeoVax will use the proceeds to further its

developmental HIV/AIDS vaccine, expected to enter Phase 2 human clinical trials later this year.

Under the agreement, the Company has the right to sell shares of its common stock to Fusion Capital

from time to time in amounts between $80,000 and $1 million, depending on certain conditions, up to

$10 million in the aggregate. The purchase price of the shares will be based on the prevailing

market prices of the Company s shares at the time of sales without any fixed discount, and the

Company will control the timing and amount of any sales of shares to Fusion Capital. There are no

negative covenants, restrictions on future financings, penalties or liquidated damages in the

agreement. A more detailed description of the agreement is set forth in the Company s Current

Report on Form 8-K filed today with the SEC, which should be reviewed carefully with this press

We are very pleased to establish this funding relationship with Fusion Capital, a well-respected

institutional investor with a strong track record of investments in the technology and healthcare

sectors, Robert T. McNally, GeoVax s President and CEO, said.

Dr. McNally continued, This agreement will help us continue to move forward with our AIDS vaccine

development efforts. Combined with the five-year, $15 million federal grant GeoVax was awarded last

year and the direct support we expect to receive through the HIV Vaccine Trials Network (HVTN)

conducting our upcoming Phase 2 clinical trial, we believe we are well-positioned to achieve

several important milestones in the development of our vaccine. This agreement also provides

flexibility for us to choose the times at which we accept capital, and to consider other

alternative financing sources should the opportunity arise.

About GeoVax Labs, Inc.

GeoVax Labs, Inc. is a biotechnology company, established to develop, manufacture, license and

commercialize human vaccines for diseases caused by HIV-1 (Human Immunodeficiency Virus) and other

infectious agents. GeoVax s HIV/AIDS vaccine technology is the subject of 20 issued or filed patent

applications. GeoVax HIV/AIDS vaccines are designed for use in uninfected people to prevent

Acquired Immunodeficiency Disease (AIDS), caused by the virus known as HIV-1, should the person

ever become infected. GeoVax HIV/AIDS vaccines also may be effective as therapeutics (treatment of

people already infected with AIDS virus). Studies evaluating these vaccines in HIV/AIDS infected

individuals are in the planning stage.

GeoVax s core HIV/AIDS vaccine technologies were developed through a collaboration of colleagues at

Emory University s Vaccine Center, the National Institutes of Health (NIH), The Centers for Disease

Control and Prevention (CDC) and the GeoVax team.

GeoVax HIV/AIDS vaccines have moved forward in human clinical trials conducted by the HIV Vaccine

Trials Network (HVTN) based in Seattle, Washington. The HVTN, funded through a cooperative

agreement with the National Institutes of Health NIH), is the largest worldwide clinical trials

program dedicated to the development and testing of HIV/AIDS vaccines. Preclinical work enabling

evaluation of GeoVax DNA and MVA vaccines was funded and supported by NIAID, which provided

additional support to GeoVax AIDS vaccine development program with a $15 million IPCAVD grant

awarded in late 2007.

About Fusion Capital

Fusion Capital Fund II, LLC is an institutional investor based in Chicago, Illinois with a

fundamental investment approach. Fusion Capital invests in a wide range of companies and

industries emphasizing life sciences, energy and technology companies. Its investments range from

special situation financing to long-term strategic capital.

Safe Harbor Statement: All statements in this news release, not statements of historical fact, are

forward-looking statements. These statements are based on expectations and assumptions on the date

of this press release and are subject to numerous risks and uncertainties which could cause actual

results to differ materially from those described in the forward-looking statements. Risks and

uncertainties include, but are not limited to, whether: GeoVax can develop and manufacture these

vaccines with the desired characteristics in a timely manner, GeoVax s vaccines will be safe for

human use, GeoVax s vaccines will effectively prevent AIDS in humans, vaccines will receive

regulatory approvals necessary to be licensed and marketed, GeoVax raises required capital to

complete vaccine development, there is development of competitive products that may be more

effective or easier to use than GeoVax s products, and other factors over which GeoVax has no

control. GeoVax assumes no obligation to update these forward-looking statements, and does not

intend to do so. Certain matters discussed in this news release are forward-looking statements

involving certain risks and uncertainties including, without limitation, risks detailed in the

Company s Securities and Exchange Commission filings and reports.