Targacept, Inc. Announces Upcoming Conference Participation

WINSTON-SALEM, N.C., May 16 /PRNewswire-FirstCall/ -- Targacept, Inc. today announced that J. Donald deBethizy, Ph.D., President and Chief Executive Officer, is scheduled to present at the Bear Stearns Biotech Boston Confab on Wednesday, May 31, 2006. His presentation will provide an overview of Targacept and its product development programs. Specific details are as follows:

Conference: Bear Stearns Biotech Boston Confab Date: May 31, 2006 Time: 1:15 - 1:35 p.m. Location: Boston Marriott Copley Place (Logo: http://www.newscom.com/cgi-bin/prnh/20010517/CHTH002LOGO)

A webcast of the presentation will be accessible on the Investor Relations section of the Company's website, www.targacept.com. Once available, a replay of the webcast will be archived on the Event Calendar page on the Investor Relations section of the Company's website for 30 days. To ensure a timely connection to the webcast, it is recommended that users register at least 15 minutes prior to the scheduled webcast.

Dr. deBethizy is also scheduled to participate on a panel titled "The Memory Market: Alzheimer's & Cognitive Therapeutics" at the Neurotech Industry Investing & Business Conference: Profiting from Advances in Drugs, Devices & Diagnostics at the Westin San Francisco in Millbrae, California at 9:15 a.m. PT on May 18, 2006.

About Targacept

Targacept is a biopharmaceutical company engaged in the design, discovery and development of a new class of drugs to treat multiple diseases and disorders of the central nervous system by selectively targeting neuronal nicotinic receptors, or NNRs. Targacept is located in Winston-Salem, North Carolina.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010517/CHTH002LOGOPRN Photo Desk, photodesk@prnewswire.comTargacept, Inc.

CONTACT: Alan Musso, VP and CFO of Targacept, Inc., +1-336-480-2186, oralan.musso@targacept.com; or Michelle Linn of Linnden Communications,+1-508-419-1555, or linnmich@comcast.net

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