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Oncolytics Biotech Inc. Announces Positive Clinical Data from U.S.,Phase I REOLYSIN Trial

process. Investors should consult the Company's quarterly and annual filings with the Canadian and U.S. securities commissions for additional information on risks and uncertainties relating to the forward-looking statements. Investors are cautioned against placing undue reliance on forward-looking statements. The Company does not undertake to update these forward-looking statements.

CONTACT: Oncolytics Biotech Inc., Cathy Ward, 210, 1167 Kensington Cr NW,Calgary, Alberta, T2N 1X7, Tel: (403) 670-7377, Fax: (403) 283-0858,; The Equicom Group, Nick Hurst, 325, 300 5th Ave.SW, Calgary, Alberta, T2P 3C4, Tel: (403) 538-4845, Fax: (403) 237-6916,; The Investor Relations Group, Erika Moran, 11Stone St, 3rd Floor, New York, NY, 10004, Tel: (212) 825-3210, Fax: (212)825-3229, cathy.ward@oncolytics.ca nhurst@equicomgroup.com emoran@investorrelationsgroup.com

Ticker Symbol: (Toronto:ONC.),(NASDAQ-NMS:ONCY)

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