Exhibit 99.03

                  Cellegy Pharmaceuticals Announces Decision of
                   European Patent Opposition Board Regarding
                                 European Patent

South San Francisco,  California,  December 12, 2003 - Cellegy  Pharmaceuticals,
Inc.  (Nasdaq NM:  CLGY)  announced  today that the Board of  Opposition  of the
European  Patent  Office  has  rendered  a verbal  decision  revoking  Cellegy's
European patent relating to its CellegesicTM  (nitroglycerin  ointment)  product
and related  compounds for the treatment of anal disorders,  including  fissures
and  various  hemorrhoidal  conditions.  Oppositions  to the  issued  patent had
previously been filed with the European  Patent Office,  and the verbal decision
followed an oral proceeding before the Board.

The  Opposition  Board will issue a written  decision at a future date.  Cellegy
disagrees  with the verbal  decision  and is  evaluating  issues  available  for
appeal.

Cellegy Pharmaceuticals is a specialty  biopharmaceutical company engaged in the
development   and  marketing  of   prescription   drugs  for  the  treatment  of
gastroenterology disorders, sexual dysfunction,  and nitric oxide donors for the
treatment  of certain  cancers.  This  press  release  contains  forward-looking
statements.  Investors are cautioned that these  forward-looking  statements are
subject to numerous  risks and  uncertainties,  known and  unknown,  which could
cause actual results and developments to differ  materially from those expressed
or implied in such  statements.  Such risks and  uncertainties  relate to, among
other factors: the outcome of ongoing clinical trials; the outcome and timing of
discussions with the FDA,  particularly  with regard to additional  requirements
for  marketing  approval  of  Fortigel;  and the need and  ability  to  complete
corporate  partnerships and financings.  There can be no assurances that Cellegy
will appeal the decision of the Board of Opposition  regarding  Cellegy's patent
referred to in this press release, or that any such appeal, if pursued,  will be
successful.  An adverse outcome in the European Patent Office  proceedings could
have a material  impact on Cellegy  business and  financial  position.  For more
information regarding risk factors, refer to the Company's Annual Report on Form
10-K for the year ended December 31, 2002.

For More Information:

Richard Juelis                          K. Michael Forrest
Vice President, Finance & CFO           President & CEO
www.cellegy.com