Cell Therapeutics Amends and Restates Its 'Modified Dutch Auction' Tender Offer to a Fixed Price Tender Offer for Any and All of Its $118.9 Million Outstanding Convert...(poses only and is neither an offer to bu...)

Date:6/2/2009

poses only and is neither an offer to buy nor the solicitation of an offer to sell, any securities. The full details of the Exchange Offers, including complete instructions on how to tender the Notes, are included in the Exchange Offers Documents, which have been or will be delivered to holders of the Notes. Holders of the Notes should read carefully the Exchange Offer Documents when they are available because they contain important information regarding the Exchange Offer. Holders of Notes may obtain free copies of the Exchange Offer Documents at the SEC's website at www.sec.gov. In addition, holders may also obtain a copy of these documents, free of charge, from Georgeson Inc., the information agent for the Exchange Offers.

While CTI's board of directors has approved the making of the Exchange Offers, none of CTI, its board of directors, the financial advisor, the information agent or the depositary makes any recommendation to any holder of the Notes as to whether to exchange or refrain from exchanging any Notes in the Exchange Offers. CTI has not authorized any person to make any recommendation with respect to the Exchange Offers. Holders of the Notes must decide whether to exchange their Notes in each Exchange Offer. 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 Offers 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.

    Media Contact:
    Dan Eramian
    T: 206.272.4343
    C: 206.854.1200
    E: deramian@ctiseattle.com
    www.CellTherapeutics.com/press_room

    Investors Conta
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SOURCE  Cell Therapeutics, Inc.
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