CTI regains compliance with all applicable NASDAQ listing standards

Cell Therapeutics, Inc. ("CTI") (NASDAQ: CTICD and MTA: CTIC) announced that it has received a letter from The NASDAQ Stock Market LLC (the "NASDAQ"), indicating that CTI has regained compliance with the minimum bid price rule (i.e., NASDAQ Listing Rule 5550(a)(2)) for continued listing on The NASDAQ Capital Market and that CTI is in compliance with all applicable listing standards. Therefore, the scheduled hearing, which CTI previously announced in a press release dated May 6, 2011, before the NASDAQ Listing Qualifications Panel has been cancelled and CTI's common stock will continue to be listed and traded on The NASDAQ Stock Market.