Penwest Pharmaceutical Third Quarter 2006 Financial Results Conference Call

DANBURY, Conn., Oct. 12 /PRNewswire-FirstCall/ -- Penwest Pharmaceuticals Co. will conduct a conference call on Tuesday, October 31st at 11:00 a.m. EST to review its financial results for the third quarter of 2006, which will be released earlier that day. Operational developments and financial outlook will also be discussed on the call.

The conference call will include remarks by Jennifer Good, President and Chief Executive Officer, and Benjamin Palleiko, Senior Vice President, Corporate Development and Chief Financial Officer.

Domestic Telephone Number: 800-862-9098 International Telephone Number: 785-424-1051 The conference ID is “Penwest.”

Please dial in 10 minutes prior to the scheduled start time. The conference call will also be accessible live and as a replay on the Investor Relations section of the Penwest Web site at www.penwest.com.

If you have any questions, please contact Diane D’Alessandro of Penwest at 203-796-3700 or Laura Walters of Kekst and Company at 212-521-4800.

Contacts: Investors: Media: Diane D’Alessandro Caroline Gentile/Laura Walters (203) 796-3706 Kekst and Company (877) 736-9378 (212) 521-4800

Penwest Pharmaceuticals Co.

CONTACT: Investors: Diane D’Alessandro of Penwest, +1-203-796-3706,+1-877-736-9378; or Media: Caroline Gentile or Laura Walters, both of Kekstand Company, +1-212-521-4800

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