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Cell Therapeutics Reschedules Special Meeting
Date:2/26/2009

SEATTLE, Feb. 27 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (CTI) (Nasdaq and MTA: CTIC) announced today that it has rescheduled the special meeting of shareholders from Friday, February 27, 2009 to Tuesday, March 24, 2009, in order to allow additional time for the proxy materials, first mailed to shareholders by CTI on or about February 12, 2009, to be adequately disseminated and reviewed by CTI shareholders and so that all shareholders receive at least 20 days written notice of the special meeting. The purposes of the rescheduled special meeting remain unchanged from the proxy materials previously distributed to shareholders, and include, among other things, approval of amendments to CTI's articles of incorporation in order to increase the authorized shares of CTI and effect a reverse stock split and approval of amendments to CTI's equity incentive plan and employee stock purchase plan. The Board of Directors of CTI continues to seek the approval of CTI shareholders for all of the proposed amendments.

The votes of any shareholder who has previously submitted its executed proxy card, or has otherwise voted, will continue to be counted for the rescheduled special meeting on March 24, 2009. Any shareholder who does not wish to change its vote, does not need to take any further action. Any shareholder who has not yet voted is encouraged to do so. Any shareholder who has previously voted and wishes to revoke its proxy, or otherwise change its vote, may do so in accordance with the procedures set forth in the proxy materials previously distributed to shareholders.

The complete set of proxy materials, including the proxy statement prepared in connection with the special meeting, and information regarding the time, date and place of CTI's rescheduled special meeting, is available on CTI's website at www.celltherapeutics.com/shareholder. Shareh
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SOURCE Cell Therapeutics, Inc.
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