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Cell Therapeutics, Inc.'s Second Quarter 2008 Financial Results
Date:8/17/2008

, before fees and expenses, from the issuance in July 2008 of convertible notes and warrants with an additional $4.5 million expected to be received prior to August 25 as agreed to in the July 2008 financing. The Company has also entered into an agreement in July 2008 which makes available an equity line of credit enabling the sale of up to $12 million of common stock over time.

Conference Call Information

On Monday, August 18, 2008, at 8:30 a.m. Eastern/2:30 p.m. Central European/5:30 a.m. Pacific members of Cell Therapeutics, Inc.'s (CTI) (Nasdaq and MTA: CTIC) management team will host a quarterly conference call to discuss the company's 2008 second quarter achievements and financial results.

Conference Call Numbers

Monday, August 18

8:30 a.m. Eastern/2:30 p.m. Central European/5:30 a.m. Pacific Time

1-800-218-8862 (US Participants)

1-303-262-2191 (International)

Call-back numbers for post-listening available at 11:30 a.m. Eastern:

1-800-405-2236 (US Participants)

1-303-590-3000 (International)

Passcode: 11118609#

Live audio webcast at http://www.celltherapeutics.com will be archived for post- listening approximately two hours after call ends.

About Cell Therapeutics, Inc.

Headquartered in Seattle, CTI is a biopharmaceutical company committed to developing an integrated portfolio of oncology products aimed at making cancer more treatable. For additional information, please visit http://www.CellTherapeutics.com.

This press release includes forward-looking statements that involve a number of risks and uncertainties, the outcome of which could materially and/or adversely affect actual future results. Specifically, the risks and uncertainties include statements about future sales of Zevalin, including the risk that the data from the FIT trial may
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SOURCE Cell Therapeutics, Inc.
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