Inclusion Criteria:

- 18 years of age or older

- Histologically documented prostate cancer

- Castration resistant prostate cancer defined as two rising PSAs on castration therapy

- Baseline PSA of 2ns/mL or greater

- Testosterone of 50ng/mL or less

- Patients on LHRH agonist/antagonist must continue therapy at the recommended dosing
intervals

- Prior bicalutamide is allowed as long as treatment was for 6 months or longer

- Metastatic disease is not required

- Minimum of four weeks since any major surgery, completion of radiation, or completion
of all prior systemic anticancer therapy

- ECOG Performance Status equal to or less than 2

- Adequate bone marrow and liver function as outlined by parameters in the protocol

Exclusion Criteria:

- Prior treatment with any investigational drug within the preceding 4 weeks

- Prior treatment with an mTOR inhibitor

- Fasting lipids over the parameters outlined in the protocol

- Chronic treatment with systemic steroids or another immunosuppressive agent

- Patients should not receive immunization with attenuated live vaccines during study
period or within one week of study entry

- Uncontrolled brain or leptomeningeal metastases, including patients who continue to
require glucocorticoids for brain or leptomeningeal metastases

- Other malignancies within the past 3 years except for adequately treated or basal
squamous cell carcinomas of the skin

- Patients who have any severe and/or uncontrolled medical conditions or other
conditions that could affect their participation in the study

- Known history of HIV seropositivity

- Impairment of gastrointestinal function or gastrointestinal disease that may
significantly alter the absorption of RAD001

- Patients with an active, bleeding diathesis or on oral anti-vitamin K medication
(except low dose coumarin)

- Men able to conceive and unwilling to practice an effective method of birth control

- Known hypersensitivity to RAD001 or other rapamycins or to its excipients

- History of noncompliance to medical regimens