NEWS

WIRES

OTHER

CTI Receives NASDAQ Letter

If the Company does not regain compliance by October 6, 2008, the Staff will notify the Company that its securities will be delisted. However, the Company may appeal the Staff's determination to delist its securities to a Listing Qualifications Panel. Alternatively, in the event the Company does not believe that it will be able to regain compliance, the Company intends to apply to transfer its securities to the NASDAQ Capital Market, which would continue to allow trading in the Company's securities.

The Company has been provided 30 calendar days, or until October 6, 2008, to regain compliance. The Staff advises that such compliance can be achieved if, at any time before October 6, 2008, the market value of the listed securities of the Company's common stock is $50,000,000 or more for a minimum of 10 consecutive business days.

About Cell Therapeutics, Inc.

Headquartered inSeattle, 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.

Sign up for email alerts and get RSS feeds at our Web site, http://www.CellTherapeutics.com/investors_news.htm

This press release includes forward-looking statements that involve a number of risks and uncertainties, the outcome of which could materially and/or adversely affect actual future results. Specifically, the risks and uncertainties that could affect the development of the company's products include risks associated with preclinical and clinical developments in the biopharmaceutical industry in general including, without limitation, the potential failure of a product to prove safe and effective for treatment of a specific condition, determinations by regulatory, patent and administrative governmental authorities, competitive factors, technological developments, costs of developing, producing and selling the product(s), and the risk factors listed or described from time to time in the Company's filings with the Securities and Exchange Commission including, without limitation, the Company's most recent filings on Forms 10-K, 8-K, and 10-Q. Except as may be required by law, CTI does not intend to update or alter its forward-looking statements whether as a result of new information, future events, or otherwise.

     Media Contact:
     Dan Eramian
     T: 206.272.4343
     C: 206.854.1200
     E: media@ctiseattle.com
     http://www.CellTherapeutics.com/media.htm

     Investors Contact:
     Ed Bell
     T: 206.282.7100
     Lindsey Jesch
     T: 206.272.4347
     F: 206.272.4434
     E: invest@ctiseattle.com
     http://investors.celltherapeutics.com/phoenix.zhtml?c=92775&p=irol-IRHome

SOURCE Cell Therapeutics, Inc.