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Cell Therapeutics, Inc. Announces Single Institutional Investor to Purchase $44.5 Million of Units Consisting of Senior Convertible Notes and Warrants
Date:7/23/2008

to exceed its net revenues and the Company will continue to need to raise capital to fund its operating expenses; as well as other risks listed or described from time to time in the Company's most recent filings with the SEC on Forms 10-K, 8-K and 10-Q. Except as required by law, the Company does not intend to update any of the statements in this press release upon further developments.

Media Contact:

Cell Therapeutics, Inc.

Dan Eramian

T: 206.272.4343

C: 206.854.1200

Lindsey Jesch

T : 206.272.4347

F : 206.272.4434

E: media@ctiseattle.com

http://www.CellTherapeutics.com/media.htm

Investors Contact:

Cell Therapeutics, Inc.

Ed Bell

T: 206.272.4345

F: 206.272.4434

E: invest@ctiseattle.com

http://www.cticseattle.com/investors.htm


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