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Cell Therapeutics Amends 'Modified Dutch Auction' Tender Offer for up to $89.2 million of Its Outstanding Convertible Notes
Date:5/18/2009

not authorized any person to make any recommendation with respect to the Exchange Offer. Holders of the Notes must decide whether to exchange their Notes and, if so, the principal amount to exchange and the price or prices at which to exchange such Notes. In doing so, holders of the Notes should carefully evaluate all of the information in the Exchange Offer Documents before making any decision with respect to the Exchange Offer and should consult their own investment and tax advisors.

Holders of the Notes who have questions or would like additional copies of the Exchange Offer documents may call the information agent at (800) 457-0759. Banks and brokerage firms may call (212) 440-9800.

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 that could affect the development of products include risks associated with preclinical and clinical developments in the biopharmaceutical industry in general, determinations by regulatory, patent and administrative governmental authorities, competitive factors, technological developments, costs of developing, CTI's ability to continue to raise capital as needed to fund its operation, CTI's reduction in annual operating expenses may be less than projected and the risk factors listed or described from time to time in CTI's filings with the Securities and Exchange Commission including, without limitation, CTI's most recent filings on Forms 10-K, 10-Q, and 8-K. Except as may be required by law, CTI does not intend to update or alter its forward-looking statements whether as a result of new information, future events, or otherwise.

    Media Contact:
    Dan Eramian
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    C: 206.854.1200
    E: media@ctiseattle.c
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SOURCE Cell Therapeutics, Inc.
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