Penwest Pharmaceutical To Present At 2006 Bank of America Health Care Conference In Las Vegas, Nevada

DANBURY, Conn., May 8 /PRNewswire-FirstCall/ -- Penwest Pharmaceuticals Co. today announced that Jennifer Good, President and Chief Operating Officer of Penwest, is scheduled to present at the Bank of America Health Care Conference in Las Vegas, Nevada. The conference is being held on May 16 through May 18 at the Four Seasons Hotel.

Ms. Good is scheduled to present on Wednesday, May 17th at 3:20 p.m. Pacific Daylight Time.

Penwest Pharmaceuticals

Penwest develops pharmaceutical products based on innovative proprietary drug delivery technologies. We are focusing our development efforts principally on products that address disorders of the nervous system. The foundation of our technology platform is TIMERx(R), an extended release delivery system that is adaptable to soluble and insoluble drugs and that is flexible for a variety of controlled release profiles. We have also developed two additional oral drug delivery systems, Geminex(R) and SyncroDose(TM). Geminex is a dual release rate drug delivery system that is designed to provide independent release of different active ingredients contained in a drug, and SyncroDose is a drug delivery system that is designed to release the active ingredient of a drug at the desired site and time in the digestive tract.

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

Penwest Pharmaceuticals Co.

CONTACT: Investors: Diane D'Alessandro, +1-203-796-3706, +1-877-736- 9378;or Media: Caroline Gentile/Jim Fingeroth, +1-212-521-4800, both of Kekstand Company, all for Penwest Pharmaceuticals

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