Penwest Pharmaceutical To Present At C.E. Unterberg, Towbin Life Sciences Conference

DANBURY, Conn., Oct. 19 /PRNewswire-FirstCall/ -- Penwest Pharmaceuticals Co. today announced that Jennifer Good, Senior Vice President, Finance, and Chief Financial Officer of Penwest, and Alan F. Joslyn, Ph.D., Senior Vice President of Research and Development, are scheduled to discuss the Company at the C.E. Unterberg, Towbin Life Sciences Conference. The conference is being held on October 25 and 26, 2005, at the New York Palace Hotel.

Ms. Good and Dr. Joslyn are scheduled to present on Tuesday, October 25th at 11:20 a.m. Eastern time.

The slides from Penwest's presentation will be available in the Investor Relations section of the Company's website at http://www.penwest.com.

Penwest Pharmaceuticals

Penwest develops pharmaceutical products based on innovative oral drug delivery technologies. We are focusing our development efforts principally on products that address diseases of the central 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 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.

Contact: Jennifer Good Caroline Gentile/Jim Fingeroth Senior Vice President and Kekst and Company Chief Financial Officer (212) 521-4800 (203) 796-3701 (877) 736-9378

Penwest Pharmaceuticals Co.

CONTACT: Jennifer Good, Senior Vice President and Chief Financial Officerof Penwest Pharmaceuticals, +1-203-796-3701, 1-877-736-9378; or CarolineGentile or Jim Fingeroth, both of Kekst and Company for PenwestPharmaceuticals, +1-212-521-4800

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