Company to Host Investor and Analyst Meeting on December 5, 2009

SEATTLE, Dec. 2 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (CTI) (Nasdaq and MTA: CTIC) announced today that Ruth Pettengell, M.D. of St. George's Hospital, University of London, the lead investigator for the PIX 301 EXTEND trial will present new data on the pixantrone phase III trial in relapsed/refractory aggressive non-Hodgkin's lymphoma (NHL) at the 51st Annual Meeting of the American Society of Hematology on Saturday, December 5, 2009 in New Orleans, Louisiana.

The presentation is scheduled for Saturday, December 5, 2009 during the "Lymphoma: Chemotherapy, excluding Pre-Clinical Models" session that will be held from 5:30 p.m-7:30 p.m. Central Time. The presentation, abstract #1677, is titled, "Phase III trial of pixantrone dimaleate compared with other agents as third-line, single-agent treatment of relapsed aggressive non-Hodgkin's lymphoma (EXTEND): Results from the treatment and follow-up periods." The abstract is available at www.hematology.org.

Separately, CTI will host an investor and analyst meeting providing an overview of the clinical trial results and potential for pixantrone in relapsed/refractory aggressive NHL on December 5, 2009 in New Orleans, Louisiana. Speakers at the event will include John P. Leonard, M.D., Richard T. Silver, Distinguished Professor of Hematology and Medical Oncology, Weill Cornell Medical College, New York Presbyterian Hospital, and Stanley M. Marks, M.D., Director of Clinical Services and Chief Medical Officer, University of Pittsburgh Medical Center Cancer Centers/University of Pittsburgh Cancer Institute, and James A. Bianco, M.D., CEO of CTI. The presentations will begin at 12:45 p.m. Central /10:45 a.m. Pacific /7:45 p.m. Central European Time and conclude at approximately 2:00 p.m. Central/ 12:00 p.m. Pacific/9:30 p.m. Central European Time. The presentations will be webcast live with slides. Webcast and conference call details are as follows:

Saturday, December 5, 2009

Webcast accessible at www.celltherapeutics.com.

Conference Call Numbers

 12:45 p.m. Central/10:45 a.m. Pacific/7:45 p.m. Central European Time:
 1-877-941-2332 (US Participants)
 1-480-629-9722 (International)

 Call-back numbers for post-listening available at 4:30 p.m. Central Time:
 1-800-406-7325 (US Participants)
 1-303-590-3030 (International)
 Passcode: 4186014#

About Pixantrone

Pixantrone (BBR 2778), is a novel topoisomerase II inhibitor with an aza-anthracenedione molecular structure that differentiates it from the anthracyclines and other related chemotherapy agents. Anthracyclines are the cornerstone therapeutic for the treatment of lymphoma, leukemia, and breast cancer. Although they are sufficiently effective to be used as first-line (initial) treatment, they cause cumulative heart damage that may result in congestive heart failure many years later. As a result, there is a lifetime limit of anthracycline doses and most patients who previously have been treated with an anthracycline are not able to receive further anthracycline treatment if their disease returns. It also can be administered through a peripheral vein rather than a central implanted catheter as required for other drugs in this class. Pixantrone is a fast track designated product which has been accepted for review by the U.S. Food & Drug Administration (FDA), with a Prescription Drug User Fee Act (PDUFA) date of April 23, 2010.

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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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 and the trading price of the securities of CTI. Specifically, the risks and uncertainties that could affect the development of pixantrone include risks associated with preclinical and clinical developments in the biopharmaceutical industry in general, and with pixantrone in particular, including, without limitation, the potential failure of pixantrone to prove safe and effective for the treatment of relapsed or refractory, aggressive NHL as determined by the FDA, CTI's ability to continue to raise capital as needed to fund its operations, competitive factors, technological developments, costs of developing, producing and selling pixantrone, and the risk factors listed or described from time to time in CTI's filings with the Securities and Exchange Commission including, without limitation, CTI's most recent filings on Forms 10-K, 10-Q and 8-K. 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:                        Investors Contact:
Dan Eramian                           Ed Bell
T: 206.272.4343                       T: 206.272.4345
C: 206.854.1200                       Lindsey Jesch Logan
F: 206.272.4434                       T: 206.272.4347
E: deramian@ctiseattle.com            F: 206.272.4434
www.celltherapeutics.com/press_room   E: invest@ctiseattle.com
                                      www.celltherapeutics.com/investors

SOURCE Cell Therapeutics, Inc.

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