Press Releases

SEATTLE, Dec. 5 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. ("CTI" or the "Company") (Nasdaq and MTA: CTIC) today announced that a single institutional investor shall purchase, for $32.65 million, newly issued 10% Convertible Senior Notes due 2011 (the "Notes"), with a conversion price of $0.137 per share.

The new Notes would have a $32.65 million initial principal balance and feature a make-whole provision entitling the holder, upon any conversion of the Notes, to receive the interest payable through scheduled maturity, less any interest paid before conversion.

The Company has also agreed to repurchase from the investor, for approximately $29 million, approximately $30 million aggregate principal amount of outstanding 15% Convertible Senior Notes, Series B 18.33% Convertible Senior Notes and 9.66% Convertible Senior Notes (collectively, the "Repurchased Notes") that were issued in June, August and October 2008, respectively. For such repurchase, the Company will use approximately $16.4 million of the proceeds from the offering of the new Notes, plus funds to be released to the Company from the escrow account that was established to pay the make-whole and interest payments on the Repurchased Notes. Warrants to purchase approximately 5.15 million shares of common stock which are held by the investor are also being surrendered to the Company and will be cancelled. The Company expects to receive net proceeds of approximately $16.3 million from the new Notes (before payment of fees and expenses), after the repurchase of the Repurchased Notes and prior to depositing approximately $9.8 million in escrow for the new Notes' make-whole provision. The new Notes will rank equal in right of payment with all existing and future unsecured senior indebtedness of the Company.

In addition, the Company obtained a conditional put option to require the investor to purchase up to $6 million of its Series C 10% Convertible Notes (the "C Notes"), related to a tender offer for up to $124 million principal amount of the Company's outstanding convertible notes that the Company may commence in the near future. If the Company receives tenders of at least $62 million of its outstanding convertible notes, it has the option to require the investor to purchase $3 million principal amount of the C Notes, and if the Company receives tenders of at least $93 million of its outstanding convertible notes, it has the option to require the investor to purchase $6 million principal amount of the C Notes. The C Notes would have substantially the same terms as the Notes.

Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (Nasdaq: RODM), acted as the exclusive placement agent for the transaction.

A prospectus supplement relating to the new Convertible Senior Notes to be issued in the offering has been filed with the Securities and Exchange Commission. Copies of the prospectus supplement and accompanying base prospectus may be obtained directly from Cell Therapeutics, Inc., 501 Elliott Avenue West, Suite 400, Seattle, Washington 98119.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

This press release contains forward-looking statements that involve a number of risks and uncertainties, the outcome of which could materially and/or adversely affect future results. The risks and uncertainties include that the Company continues to have a substantial amount of debt outstanding and the quarterly interest expense associated with the debt is significant; the Company's operating expenses continue to exceed its net revenues and the Company will continue to need to raise capital to fund its operating expenses; as well as other risks listed or described from time to time in the Company's most recent filings with the SEC on Forms 10-K, 8-K and 10-Q. Except as required by law, the Company does not intend to update any of the statements in this press release upon further developments.

     Media Contact:
     Dan Eramian
     T: 206.272.4343
     C: 206.854.1200
     E: media@ctiseattle.com
    http://www.CellTherapeutics.com/press_room

     Investors Contact:
     Ed Bell
     T: 206.272.4345
     Lindsey Jesch Logan
     T : 206.272.4347
     F : 206.272.4434
     E: invest@ctiseattle.com
    http://www.CellTherapeutics.com/investors

SOURCE Cell Therapeutics, Inc.

TAIPEI, Taiwan, Dec. 5, 2008 (GLOBE NEWSWIRE) -- Silicon Motion Technology Corporation (Nasdaq: SIMO), a leading fabless semiconductor company that designs, develops, and markets high-performance, low-power semiconductor solutions for the multimedia consumer electronics market, today announced that it will participate in the following upcoming conferences:

       The 11th Annual Needham Growth Stock Conference
       Wednesday, January 7, 2009 at 3:00 p.m. (Eastern Time)
       New York Palace Hotel - New York, NY

       Nomura AC@CES 2009
       Thursday, January 8, 2009 (meetings only; no Webcast)
       Wynn Las Vegas - Las Vegas, NV

       The 2nd CLSA Asia Investors' Forum
       Monday & Tuesday, February 9-10, 2009 (meetings only;
        no Webcast)
       Four Seasons Hotel - Las Vegas, NV

       Merrill Lynch "Taiwan, Technology & Beyond" Conference
       Wednesday & Thursday, March 18-19, 2009 (meetings only;
        no Webcast)
       Shangri-La's Far Eastern Plaza Hotel - Taipei, Taiwan

       B.Riley & Co. 10th Annual Las Vegas Investor Conference
       Wednesday & Thursday, March 18-19, 2009 (meetings and Webcast)
       Palms Casino Resort - Las Vegas, NV

Interested parties can listen to a live audio Webcast of the Company's presentation on the Investor Relations section of Silicon Motion's website at www.siliconmotion.com. A replay of the Webcast will be available for 90 days following the events.

About Silicon Motion:

We are a fabless semiconductor company that designs, develops and markets high performance, low-power semiconductor solutions for the multimedia consumer electronics market. We have three major product lines: mobile storage, mobile communications, and multimedia SoCs. Our mobile storage business is composed of microcontrollers used in NAND flash memory storage products such as flash memory cards, USB flash drives, SSDs, embedded flash applications, and card readers. Our mobile communications business is composed of mobile TV tuners, CDMA RF ICs, and electronic toll collection RF ICs. Our multimedia SoCs business is composed of products that support portable multimedia players, DAB systems, PC cameras, and embedded graphics applications.

CONTACT: Silicon Motion Technology Corporation
         Investor Contact:
         Jason Tsai, Director of IR and Strategy
           +1 408 519 7259
           Fax: +1 408 519 7101
           jtsai@siliconmotion.com
         Investor Contact:
         Selina Hsieh, Investor Relations
           +886 3 552 6888 x2311
           Fax: +886 3 560 0336
           ir@siliconmotion.com
         Media Contact:
         Sara Hsu, Project Manager
           +886 2 2219 6688 x3509
           Fax: +886 2 2219 6868
           sara.hsu@siliconmotion.com.tw

DANVILLE, Calif.--(BUSINESS WIRE)-- The first Red Flag to ever enter the United States will be unveiled in a special ceremony next week at the Blackhawk Auto Museum in California. The Red Flag is the first collector car to be exchanged in the United States with China. China's automotive history spans a short 50 years beginning with the production of the first Red Flag in 1958. The car was among a small few manufactured by China in the 50's-70's for government dignitaries. Don Williams, Museum President and owner of the prestigious Blackhawk Collection shares, "This exchange represents cultural and automotive history as a collector car has never left China before, nor has China been able to purchase collector cars from outside the country".

Williams has journeyed to China over the past three years, building many relationships along the way. Upon befriending Jason Huang, an avid car collector, prominent businessman and owner of Sanhe Group, he discovered the Red Flag. His 40 years of collector car industry experience told him the car had far more than monetary value as it represented Chinas cultural history. "I wanted the car from the moment I laid eyes on it, who wouldn't want one of China's very first cars", reflects Williams. Through a friendship built out of a common love for cars, Williams has become the new owner of The Red Flag. The exchange was a timely one that required great patience while earning trust and permission from the government of China to bring the car to America.

Wednesday, December 10, 2008, Williams will be joined by his new collector car comrade Jason along with several Chinese dignitaries and the media at the Blackhawk Museum where the historic exchange will take place. After the ceremony, The Red Flag will be on display to the general public at the museum.

Not only does Williams hope to educate people in the United States about The Red Flag, China and its culture, he has also spent a great deal of time in China helping to educate their people about classic cars. Their primary exposure has been through magazines and TV. Williams notes, "I've spent time in Chengdu, Shanghai and Beijing and have seen car enthusiasm in China grow by leaps and bounds. They are curious about movie cars and love cars with lots of chrome and detail". Williams has worked with government and private enterprise in Shanghai to bridge the collector car gap and has donated his time and expertise to help develop the Blackhawk Pavilion. He has provided 60 cars to the museum.

Blackhawk Collection: www.blackhawkcollection.com

Blackhawk Museum: www.blackhawkmuseum.org

    Source: Blackhawk Collection

NEW DELHI, India, Dec. 5 /PRNewswire-USNewswire/ -- Health Care Without Harm and the World Health Organization today launched a global partnership to substitute mercury-based medical devices with safer, accurate and affordable alternatives.

The announcement came during the opening of the South Asian Conference on Alternatives to Mercury in Health Care, an event sponsored by the two organizations and the Indian NGO Toxics Link.

"This initiative aims to replace no less than 70 percent of all mercury thermometers and blood pressure devices around the world with digital and aneroid alternatives within the decade," said Alexander von Hildebrand, Regional Adviser for Chemical Safety for WHO's South East Asia Regional Office. "It is our goal to significantly reduce the threat posed by mercury spills to patient and worker health, as well as the global environment."

Several countries have already taken steps to mandate safer, accurate and affordable alternatives to mercury-based medical devices. It is virtually impossible to find a mercury thermometer in the United States today, while the European Union has banned them outright, as has Taiwan. The Philippines has mandated a phase-out of all mercury medical devices over the next two years, while hundreds of hospitals in Latin America -- from Mexico to Brazil to Argentina are moving toward alternatives.

"This Partnership is a vehicle for health care leaders, government officials, NGOs and private sector participants from around the world to join forces in support of environmental health," said Josh Karliner, International Coordinator for Health Care Without Harm. "Anyone committed to mercury elimination in health care can join via the Partnership website, www.mercuryfreehealthcare.org."

The Partnership is based on both WHO and HCWH's ongoing efforts for substitution of mercury-based medical devices. It is also a component of the UN Environment Programme Mercury Products Partnership.

At the Delhi conference, health care sector leaders from across India and neighboring countries, along with experts from around the world are gathered to share experiences and learn more on how to make the switch. Organizers have also convened business leaders and aid agencies to discuss bolstering production of the non-mercury devices. "The conference is an important step for India to begin playing a leadership role in this essential global initiative," said conference host Ravi Agarwal, Director of Toxics Link.

Health Care Without Harm is a global coalition of 473 organizations in more than 50 countries working to protect health by reducing pollution in the health care sector. Visit Health Care Without Harm at www.noharm.org.

The World Health Organization, the international agency within the United Nations system responsible for health, has a number of programmes that address the threats posed by environmental pollutants providing information and guidelines for risk assessment and management, for preventing human exposure and for improving the diagnosis, treatment and surveillance of health effects.

SOURCE Health Care Without Harm

MONTREAL, QUEBEC--(Marketwire - Dec. 5, 2008) - The results of the 2008 Uniform Evaluation were released this morning and the Ordre des comptables agrees du Quebec is very pleased to announce that 502 Quebec candidates passed one of the most challenging examinations in the world.

"I would like to congratulate the 502 candidates who successfully completed the UFE. Their performance proves once again that our close cooperation with our university partners and CA firms is paying off," noted Jean-Pierre Allaire, FCA, Chair of the Ordre.

This year, nine aspiring CAs from Quebec earned a place on the UFE Honour Roll of the Canadian Institute of Chartered Accountants, including the recipient of the Governor General's Gold Medal for the highest standing in Canada on the 2008 Uniform Evaluation. These top candidates, who will be honoured at the Ordre's Gala de la reussite to be held at the Palais des Congres de Montreal on March 16, 2009, are:

Xavier Richard,(1) HEC Montreal, BDO Dunwoody, Montreal

Derek Benson, John Molson School of Business (Concordia University), Ernst & Young, Montreal

Jasmin Deschamps, HEC Montreal, PricewaterhouseCoopers, Montreal

Jeremie Forand, HEC Montreal, Samson Belair/Deloitte & Touche, Montreal

Dominique Girard, Universite du Quebec a Chicoutimi, Samson Belair/Deloitte & Touche, Chicoutimi

Sophie Langis-Lauziere, HEC Montreal, Ernst & Young, Montreal

Valentina Levina, John Molson School of Business (Concordia University), KPMG, Montreal

Pierre-Luc Marcil, Universite du Quebec a Trois-Rivieres, Ernst & Young, Montreal

Marie-Annick Viau, HEC Montreal, KPMG, Montreal

(1) Xavier Richard is the recipient of the Governor General's Gold Medal and the Chartered Accountants of Canada cash prize of $5,000 for the highest standing in Canada on the 2008 Uniform Evaluation.

"This year, a record of nine aspiring CAs from Quebec made the national Honour Roll. Their success reflects the excellence of our academic community. We are also making every effort to ensure that UFE candidates have access to high-quality pre-evaluation material," explained Daniel McMahon, FCA, President and CEO of the Ordre.

The number of new UFE candidates increases significantly each year. This year, 617 candidates wrote the Uniform Evaluation for the first time, representing an increase of 39% over the last three years.

A competency-based evaluation

All CAs in Canada are required to pass the UFE. During this three-day professional evaluation, candidates have to demonstrate that they have acquired the competencies needed to become chartered accountants.

The purpose of the UFE is to measure candidates' ability to integrate their knowledge and competencies as well as to analyze, process and effectively communicate information. Subject matters include assurance, strategy, risk management, financial management, corporate finance, management decision-making and taxation.

With a membership of close to 17,500 CAs and 1,700 candidates for the practice of the profession, the Ordre des comptables agrees du Quebec carries out its primary mission to protect the public by enforcing the most demanding admission criteria and the highest ethical standards.

FOR FURTHER INFORMATION PLEASE CONTACT:
        Ordre des comptables agrees du Quebec
        Caroline Emmanuel
        External Relations Manager
        514-982-4615 or 1-800-363-4688, ext. 4615
        c.emmanuel@ocaq.qc.ca

Source: Ordre des comptables agrees du Quebec