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Cell Therapeutics Receives Additional NASDAQ Notification
Date:1/26/2009

, the Company took immediate action to rescind the issuance of such shares.

The Determination Letter also indicated that the Company has at times not complied with Marketplace Rule 4310(c)(17), which requires companies to submit a "Listing of Additional Shares" form to NASDAQ no later than 15 days prior to entering into a transaction that involves the issuance of additional securities, including the form that was submitted in connection with the Amendment, and based upon the Company's history of non-compliance with certain of NASDAQ's corporate governance criteria, indicated that the Staff had raised public interest concerns under Marketplace Rule 4300.

As disclosed on January 7, 2009, the NASDAQ Listing Qualifications Panel (the "Panel") recently granted the Company's request to transfer the listing of its common stock from The NASDAQ Global Market to The NASDAQ Capital Market, subject to the Company evidencing compliance with all applicable requirements for continued listing on The NASDAQ Capital Market, including the $35 million market value of listed securities requirement or its alternatives, by February 12, 2009. The Determination Letter provided formal notice that the Panel will consider the additional matters raised by the Staff in rendering a determination regarding the Company's continued listing on The NASDAQ Capital Market. Pursuant to Marketplace Rule 4804(c), the Company will present its views with respect to those matters for the Panel's review no later than January 30, 2009. As part of that submission, the Company plans to request continued listing on The NASDAQ Capital Market; however, there can be no assurance that the Panel will grant the Company's request.

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 addition
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SOURCE Cell Therapeutics, Inc.
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