Cell Therapeutics Retires Remaining Convertible Debt

Cell Therapeutics, Inc.

announced today that it has deposited $11.2 million in cash as trust funds with U.S. Bank National Association, as the trustee of the outstanding 5.75% convertible senior notes, which is an amount sufficient to pay and discharge the entire amount due on the Notes, including accrued and unpaid interest. CTI has now retired all of its outstanding convertible debt.