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Cell Therapeutics, Inc. Adopts Shareholder Rights Plan
Date:12/28/2009

CTI's common stock, the Board of Directors could decide that each right (except those held by a 20% shareholder, which become null and void) would become exercisable entitling the holder to receive upon exercise, in lieu of a number of units of preferred stock, that number of shares of CTI common stock having a market value of two times the exercise price of the right--in effect doubling the value of the right to the shareholder. In certain circumstances, including if there are insufficient shares of CTI's common stock to permit the exercise in full of the rights, the holder may receive units of preferred stock, other securities, cash or property, or any combination of the foregoing.

If CTI is acquired in a merger or other business combination transaction after any such event, each holder of a right, except those held by a 20% shareholder, which become null and void, would then have the right to receive, upon exercise, common stock of the acquiring company having a market value equal to two times the exercise price of the right.

CTI's Board of Directors may redeem the rights for $0.0001 per right or terminate the Rights Plan at any time prior to an acquisition by a person or group holding 20% or more of CTI's common stock. The Rights Plan will expire on January 7, 2013.

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 www.CellTherapeutics.com.

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SOURCE Cell Therapeutics, Inc.
Copyright©2009 PR Newswire.
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