ZymoGenetics, Inc. To Highlight Development Programs At Two Upcoming Investor Conferences

SEATTLE, May 11 /PRNewswire-FirstCall/ -- ZymoGenetics, Inc. announced today that company executives will present at the following investor conferences:

Bruce L.A. Carter, Ph.D., President and Chief Executive Officer, will provide an overview of company activities at the Rodman & Renshaw Global Healthcare Conference in Monte Carlo, Monaco on Monday, May 15, 2006 at 12:20 p.m. Central European Time.

Douglas E. Williams, Ph.D., Executive Vice President and Chief Scientific Officer, will provide an overview of company activities at the Banc of America Securities Health Care Conference in Las Vegas, Nevada on Thursday, May 18, 2006 at 8:00 a.m. Pacific Time.

Live webcasts of the presentations can be accessed by going to: www.zymogenetics.com. The webcasts will be archived for fourteen days.

About ZymoGenetics

ZymoGenetics creates novel protein drugs with the potential to significantly help patients fight their diseases. The Company is developing a diverse pipeline of potential proprietary product candidates that are moving into and through clinical development. These candidates span a wide array of clinical opportunities that include bleeding, autoimmune diseases and cancer. ZymoGenetics intends to commercialize these product candidates through internal development, collaborations with partners, and out-licensing of patents from its extensive patent portfolio. For further information, visit www.zymogenetics.com.

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the current intent and expectations of the management of ZymoGenetics. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. ZymoGenetics’ actual results and the timing and outcome of events may differ materially from those expressed in or implied by the forward-looking statements because of risks associated with our unproven discovery strategy, preclinical and clinical development, regulatory oversight, intellectual property claims and litigation and other risks detailed in the company’s public filings with the Securities and Exchange Commission, including the company’s Annual Report on Form 10-K for the year ended December 31, 2005. Except as required by law, ZymoGenetics undertakes no obligation to update any forward-looking or other statements in this press release, whether as a result of new information, future events or otherwise.

Contact Investor Relations John Calhoun, MD, MBA Director, Corporate Communications & Investor Relations 206-442-6744 Media Relations Susan W. Specht, MBA Associate Director, Corporate Communications 206-442-6592

ZymoGenetics, Inc.

CONTACT: Investor Relations, John Calhoun, MD, MBA of Director, CorporateCommunications & Investor Relations, +1-206-442-6744, or Media Relations,Susan W. Specht, MBA, Associate Director, Corporate Communications,+1-206-442-6592, both of ZymoGenetics, Inc.

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