Cell Therapeutics, Inc. Among Top Companies In Deloitte's Washington State Technology Fast 50

SEATTLE, Oct. 7 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (CTI) is among the top companies in the Deloitte & Touche annual "Washington State Technology Fast 50." The award program ranks technology companies located within the state by revenue growth over a five-year period (2000-2004). CTI ranked second with five-year revenue growth at 5,867 percent. Seattle Genetics, Inc. ranked first with revenue growth at 6,669 percent.

"We are very pleased to be included in the Deloitte 'Fast 50,'" said CTI President and CEO, Jim Bianco. "We have faced numerous challenges over the last several years but managed to maintain steady revenue growth during that time. While our restructuring and refocusing of the company this year will impact our growth in 2005, we hope to be able to qualify for the Fast 50 list again in the future."

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.cticseattle.com.

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 CTI's products under development include risks associated with preclinical and clinical developments in the biopharmaceutical industry in general and with CTI's products under development in particular including, without limitation, the potential failure of all compounds to prove safe and effective for treatment of disease, determinations by regulatory, patent and administrative governmental authorities, competitive factors, technological developments, costs of developing, producing and selling CTI's products under development, 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, S-3 and 10-Q. CTI is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events, or otherwise.

CONTACT: Susan Callahan of Cell Therapeutics, Inc., +1-206-272-4472, orfax, +1-206-272-4434, or media@ctiseattle.com

Web site: http://www.cticseattle.com/