Penwest Pharmaceutical To Present At Pacific Growth Equities 2006 Life Sciences Growth Conference

DANBURY, Conn., June 1 /PRNewswire-FirstCall/ -- Penwest Pharmaceuticals Co. today announced that Jennifer Good, President and Chief Operating Officer of Penwest, is scheduled to present at the Pacific Growth Equities 2006 Life Sciences Growth Conference. The conference is being held June 12 through June 14, 2006, at the InterContinental Mark Hopkins Hotel in San Francisco.

Ms. Good is scheduled to present on Tuesday, June 13, at 1:30 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; Media - Caroline Gentile, or Jim Fingeroth, both of Kekst andCompany, +1-212-521-4800

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