Nastech Pharmaceutical Company Inc. To Host 2006 Analyst And Institutional Investor Day

BOTHELL, Wash., Sept. 26 /PRNewswire-FirstCall/ -- Nastech Pharmaceutical Company Inc. will be hosting an analyst and institutional investor day in New York City on Wednesday, October 4, 2006 from 12:00 p.m. -- 3:00 p.m. Eastern Time at the InterContinental The Barclay New York, on 111 East 48th Street. The event will feature presentations from Steven C. Quay, M.D., Ph.D., Chairman, President and Chief Executive Officer of Nastech, and Paul H. Johnson, Ph.D., Senior Vice President, Research & Development and Chief Scientific Officer of Nastech, as well as the following leading scientific experts:

* Dr. Paul D. Miller, Clinical Professor of Medicine at the University of Colorado Medical Center in Denver and Medical Director of the Colorado Center for Bone Research in Lakewood, will present on osteoporosis and discuss the role of Parathyroid Hormone (PTH) as a therapeutic. * Dr. Harold E. Lebovitz, Professor of Medicine in the Division of Endocrinology at the State University of New York (SUNY) Health Science Center at Brooklyn, will provide an overview of diabetes and discuss current and potential future approaches to treating this disease. * Dr. Cy A. Stein, Head of Medical Genitourinary Oncology and Professor of Medicine, Urology and Molecular Pharmacology at the Albert Einstein College of Medicine in New York, will offer expert insight on the promising landscape of RNA interference (RNAi) and discuss the therapeutic development of RNAi.

"Nastech is excited to have assembled a high caliber group of thought leaders in the fields of osteoporosis, diabetes, and RNA interference to share with you insights into these areas that are important to Nastech's drug development strategy," stated Steven C. Quay, M.D., Ph.D., Chairman, President and Chief Executive Officer of Nastech. "This year's event will provide in- depth information on Nastech's drug delivery technologies, clinical programs and business strategy. Paul Johnson, Ph.D., Chief Scientific Officer, will also review the advances in the development of RNAi therapeutics that are occurring at Nastech."

The invitation-only event will be webcast commencing at 12:30 p.m. Eastern Time. To access the live audio webcast for this conference, please log on to Nastech's website at www.nastech.com approximately 15 minutes prior to the presentation in order to register and download any necessary software. A replay of the audio presentation will be available following the event.

About Nastech

Nastech is a pharmaceutical company developing innovative products based on proprietary molecular biology-based drug delivery technologies. Nastech and its collaboration partners are developing products for multiple therapeutic areas including osteoporosis, diabetes, obesity, respiratory diseases and inflammatory conditions. Additional information about Nastech is available at http://www.nastech.com.

Nastech Forward Looking Statements

Statements made in this press release may be forward-looking statements within the meaning of Federal Securities laws that are subject to certain risks and uncertainties and involve factors that may cause actual results to differ materially from those projected or suggested. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to: (i) the ability of Nastech to obtain additional funding; (ii) the ability of Nastech to attract and/or maintain manufacturing, research, development and commercialization partners; (iii) Nastech's and/or a partner's ability to successfully complete product research and development, including preclinical and clinical studies and commercialization; (iv) Nastech's and/or a partner's ability to obtain required governmental approvals; and (v) Nastech's and/or a partner's ability to develop and commercialize products that can compete favorably with those of competitors. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in Nastech's most recent periodic reports on Form 10-K and Form 10-Q that are filed with the Securities and Exchange Commission. Nastech assumes no obligation to update and supplement forward-looking statements because of subsequent events.

CONTACTS: Nastech Ed Bell Senior Investor Relations Manager (425) 908-3639 ir@nastech.com Noonan Russo Matthew Haines (Investors/Media) (212) 845-4235

Nastech Pharmaceutical Company Inc.

CONTACT: Ed Bell of Nastech, +1-425-908-3639, ir@nastech.com; or MatthewHaines of Noonan Russo, +1-212-845-4235

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