VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 31, 2008) - ALDA Pharmaceuticals Corp. (TSX VENTURE:APH)("ALDA") announces that it has granted incentive stock options to certain directors, senior officers, employees and consultants to purchase an aggregate of 550,000 common shares at an exercise price of $0.20 and a term of five years, expiring on October 31, 2013. The options and shares issuable upon exercise, if any, will be subject to a four-month hold period from the date of grant in accordance with TSX Venture Exchange policy. The grant was pursuant to the Company's Rolling Stock Option Plan, which was re-affirmed by the shareholders of the Company on December 14, 2007 and subsequently accepted by the Exchange. The total number of options outstanding after this grant will be 4,970,000.

About ALDA Pharmaceuticals Corp.

ALDA is focused on the development of infection-control therapeutics derived from its patented T36(R) technology. The company trades on the TSX Venture Exchange under the symbol APH.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.