SEATTLE (Map) - In the news release, Cell Therapeutics, Inc. (CTI) (Nasdaq: CTIC; MTA) Reports Recent Accomplishments and 2007 Fourth Quarter and Year End Financial Results, issued earlier today by Cell Therapeutics, Inc. over PR Newswire, we are advised by the company that the release contained additional tabular material, originally issued inadvertently without the material. The additional tabular material follows:

                           Cell Therapeutics, Inc.
                    Consolidated Statements of Operations
                 (In thousands, except for per share amounts)
                                 (Unaudited)
                                        Three Months Ended       Year Ended
                                           December 31,         December 31,
                                          2007      2006      2007       2006
    Revenues:
       Product sales                       47         -         47          -
       License and contract revenue        20        20         80         80
         Total revenues                    67        20        127         80
    Operating expenses:
       Cost of product sold                49         -         49          -
       Research and development        21,651    16,623     72,019     61,994
       Selling, general and
        administrative                 10,923     8,075     35,517     35,894
       Acquired in-process research
        and development                 3,272         -     24,615          -
       Amortization of purchased
        intangibles                       275       204        913        792
         Total operating expenses      36,170    24,902    133,113     98,680
    Loss from operations              (36,103)  (24,882)  (132,986)   (98,600)
    Other income (expense):
       Investment and other income        363     1,023      2,430      2,866
       Interest expense                (2,460)   (2,941)   (12,517)   (19,829)
       Foreign exchange gain            1,515       880      4,657      1,877
       Make-whole interest expense          -         -     (2,310)   (24,753)
       Gain on derivative
        liabilities                        54       820      3,672      6,024
       Gain (loss) on exchange of
        convertible notes                (972)        -       (972)     7,978
       Settlement expense                   -   (10,499)      (160)   (11,382)
    Net loss before minority
     interest                         (37,603)  (35,599)  (138,186)  (135,819)
       Minority interest in net loss
        of subsidiary                      42         -         78          -
    Net loss                          (37,561)  (35,599)  (138,108)  (135,819)
       Preferred stock beneficial
        conversion feature             (1,248)        -     (9,549)         -
       Preferred stock dividends         (253)        -       (648)         -
    Net loss attributable to common
     shareholders                    $(39,062) $(35,599) $(148,305) $(135,819)
    Basic and diluted net loss per
     common share                      $(0.74)   $(1.00)    $(3.27)    $(4.84)
    Shares used in calculation of
     basic and diluted
      net loss per common share (1)    52,469    35,601     45,292     28,070
    Balance Sheet Data:                          (amounts in thousands)
                                                            December 31,
                                                       2007              2006
    Cash and cash equivalents, securities          (unaudited)
    available-for-sale
         and interest receivable                     $18,392          $54,407
    Working capital                                  (30,909)          30,166
    Total assets                                      73,513          101,821
    Convertible debt                                 137,396          166,178
    Accumulated deficit                           (1,109,413)        (961,108)
    Shareholders' deficit                           (134,125)        (101,604)
    (1) Amounts reflect a one-for-four reverse stock split of our common stock
        effective April 15, 2007.

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Cell Therapeutics, Inc. (CTI) Reports Recent Accomplishments and 2007 Fourth Quarter and Year End Financial Results

Restructured majority of convertible notes due June 2008
Reduced net operating expenses going forward
Projects Zevalin(R) net sales revenues of $15 million in 2008

SEATTLE, March 13 /PRNewswire-FirstCall/ -- Seattle-Cell Therapeutics, Inc. (CTI) (Nasdaq: CTIC; MTA) today reported recent accomplishments and financial results for the quarter and twelve months ended December 31, 2007.

Recent Events

Announced completion of Zevalin(R) (Ibritumomab Tiuxetan) acquisition from Biogen Idec for an upfront payment of $10.1 million and initiated building Zevalin sales, marketing, and medical affairs infrastructure

Raised $14.8 million in aggregate gross proceeds through the issuance of common and preferred stock and warrants; raised $51.7 million in an offering of 9% Senior Convertible Notes due 2012; of which $16.2 million was used to induce the conversion of $21.5 million of outstanding Series A,B,C, and D convertible preferred securities to common stock

Restructured approximately 81 percent of the convertible notes due in June 2008, reducing total due in 2008 from $55.9 million to $10.7 million

Reduced expected net operating expenses by 35%, targeting $77 million in net cash operating expenses in 2008, by focusing resources on reaching $15 million in net Zevalin revenues, pursuing European marketing authorization (MAA) for XYOTAX (paclitaxel poliglumex, CT-2103), preparing for a potential U.S. marketing application (NDA) for pixantrone (BBR 2778) in 2009, and supporting the advancement of brostallicin

"Now that we have made significant progress on our strategy of simplifying our capital structure, reducing operating expenses, and shifting our resources to near-term opportunities, we believe we are in a much stronger position to increase revenues, execute our late-stage clinical programs, and create value for our shareholders and patients," said James A. Bianco, M.D., President and CEO of CTI. "With our financial restructuring and strategic realignment completed, we can focus on commercializing Zevalin and developing our late- stage product pipeline."

Financial Results

For the quarter ended December 31, 2007, CTI reported a net loss attributable to common shareholders of $39.1 million ($0.74 per share) compared to a net loss attributable to common shareholders of $35.6 million ($1.00 per share) for the same period in 2006.

For the year ended December 31, 2007, CTI posted a net loss attributable to common shareholders of $148.3 million ($3.27 per share), which includes $24.6 million in acquired in-process research and development expense associated with the acquisitions of Systems Medicine and Zevalin. The acquired in-process research and development charge is primarily a non-cash expense. This compares to a net loss attributable to common shareholders of $135.8 million ($4.84 per share) for the same period in 2006. In 2007, CTI recorded make-whole interest expense of $2.3 million compared to $24.8 million in 2006, which was primarily related to conversions of our 6 3/4% convertible notes during 2006.

The Company ended the year with cash and cash equivalents, securities available-for-sale and interest receivable of approximately $18.4 million. In January 2008, CTI sold shares to Societe Generale, pursuant to the Step-Up Equity Financing Agreement, for gross proceeds of approximately $1.27 million. In March 2008, CTI raised approximately $35.5 million in gross proceeds from the sale of convertible senior notes after taking into consideration $16.2 million paid as a conversion inducement to preferred securities holders, which eliminated $21.5 million of redeemable preferred stock.

About Cell Therapeutics, Inc.

Headquartered in Seattle, CTI is a biopharmaceutical company committed to developing an integrated portfolio of oncology products aimed at making cancer more treatable. For additional information, please visit http://www.cticseattle.com.

This press release includes forward-looking statements that involve a number of risks and uncertainties, the outcome of which could materially and/or adversely affect actual future results. Specifically, the risks and uncertainties include statements about future sales of Zevalin, reducing net operating expenses in 2008, and the development of XYOTAX, pixantrone, and brostallicin, which include risks associated with preclinical and clinical developments in the biopharmaceutical industry in general and with XYOTAX, pixantrone, and brostallicin in particular, including, without limitation, the potential failure of these product candidates to prove safe and effective for treatment of non-small cell lung cancer, ovarian cancer, non-Hodgkin's lymphoma, and sarcoma, determinations by regulatory, patent and administrative governmental authorities, competitive factors, technological developments, costs of developing, producing and selling Zevalin, XYOTAX, pixantrone, and brostallicin, the Company's ability to continue to raise capital as needed to fund its operations, and the risk factors listed or described from time to time in the Company's filings with the Securities and Exchange Commission including, without limitation, the Company's most recent filings on Forms 10- K, 8-K, and 10-Q. Except as may be required by law, CTI does not intend to update or alter its forward-looking statements whether as a result of new information, future events, or otherwise.

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     Susan Callahan
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