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To: The Ox who wrote (679)	2/15/2008 2:13:50 PM
From: The Ox	Read Replies (1) \| Respond to of 8239

CTIC follow up: Cell Therapeutics, Inc. (CTI) Announces Cancellation of Approximately $9.1 Million of Existing Notes due 2008 7:50p ET February 13, 2008 (PR NewsWire) Cell Therapeutics, Inc. ("CTI" or the "Company") (Nasdaq: CTIC; MTAX) today announced that it exchanged $8.943 million in aggregate principal of its outstanding 5.75% Convertible Senior Subordinated Notes due 2008 (the "Senior Subordinated Notes") and approximately $150,000 in aggregate principal of its outstanding 5.75% Convertible Subordinated Notes due 2008 (the "Subordinated Notes," and together with the Senior Subordinated Notes, the "Notes"), together with the accrued and unpaid interest on the Notes, for approximately 6.85 million shares of the Company's common stock, no par value (the "Common Stock"). The Common Stock was issued in a private placement exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). Approximately $10.7 million in Senior Subordinated Notes and Subordinated Notes remain outstanding and mature in June 2008.