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Oncolytics Biotech Inc. Announces Details of 2008 Annual Shareholder Meeting
Date:5/5/2008

CALGARY, May 5 /PRNewswire-FirstCall/ - Oncolytics Biotech Inc. (TSX: ONC, NASDAQ: ONCY) announced today that its 2008 Annual and Special Meeting of the Shareholders will be held on Wednesday, May 7, 2008 at 9:00 a.m. (ET) at the Yale Club of New York City, 50 Vanderbilt Ave, New York.

Following the business portion of the meeting, Dr. Brad Thompson, President and CEO of Oncolytics, will discuss recent progress in developing REOLYSIN(R) as a potential cancer therapeutic.

A live audio webcast of the presentation will begin at approximately 9:15 a.m. (ET) at: http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=2266660 or on the company's website at http://www.oncolyticsbiotech.com. It is recommended that listeners log on 15 minutes in advance of the presentation to register and download any necessary software.

An audio replay will be accessible following the presentation at http://www.oncolyticsbiotech.com.

About Oncolytics Biotech Inc.

Oncolytics is a Calgary-based biotechnology company focused on the development of oncolytic viruses as potential cancer therapeutics. Oncolytics' clinical program includes a variety of Phase I/II and Phase II human trials using REOLYSIN(R), its proprietary formulation of the human reovirus, alone and in combination with radiation or chemotherapy. For further information about Oncolytics, please visit http://www.oncolyticsbiotech.com

The presentation time is subject to change. This release and the presentation related thereto contain forward-looking statements which involve known and unknown risks, delays, uncertainties and other factors not under the Company's control and which may cause actual results, performanc
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SOURCE Oncolytics Biotech Inc.
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