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Cell Therapeutics Updates Shareholders on Trading
Date:2/11/2009

e trading in Italy. The Company believes that it is currently in compliance with all undertakings for filing and reporting obligations in Italy as agreed with the Borsa Italiana and CONSOB when the shares were accepted for listing in Italy.

The Company is diligently working with the Borsa Italiana, CONSOB and the NASDAQ Stock Market to have one or both markets resume trading in the Company's common stock.

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 additional information, please visit http://www.CellTherapeutics.com.

This press release contains forward-looking statements that involve a number of risks and uncertainties, the outcome of which could materially and/or adversely affect future results. The risks and uncertainties include that the Company may not be able satisfy the Italian regulatory authorities requests for information; the Borsa Italiana may choose not to lift the trading halt in Italy; the Company's current extension of time to comply with the NASDAQ listing requirements may not be extended by the NASDAQ Qualification Panel and the Company may be delisted by NASDAQ; the Company's operating expenses continue to exceed its net revenues and the Company will continue to need to raise capital to fund its operating expenses; as well as other risks listed or described from time to time in the Company's most recent filings with the SEC on Forms 10-K, 8-K and 10-Q. Except as required by law, the Company does not intend to update any of the statements in this press release upon further developments.

     Media Contact:
     Dan Eramian
     T: 206.272.4343
     C: 206.854.1200
     E: media@ctiseattle.com
   
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SOURCE Cell Therapeutics, Inc.
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