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Targacept to Present at CIBC Conference

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Targacept to Present at CIBC Conference

Winston-Salem, NC

March 31, 2005

Targacept, Inc., a central nervous system-focused biopharmaceutical company, announced today that J. Donald deBethizy, its President and Chief Executive Officer, will make a presentation at the CIBC World Markets Annual Biotechnology & Specialty Pharmaceuticals Conference on April 5, 2005 at the Millennium Broadway Hotel in New York City. Dr. deBethizy’s presentation is scheduled to begin at 3:45 p.m. Eastern Time.

A live audio webcast of Dr. deBethizy’s presentation will be available at http://www.veracast.com/webcasts/cibcwm/biotech05/75214329.cfm. An archived audio webcast of the presentation will be available approximately three hours after the presentation on Targacept’s website (www.targacept.com) and will remain available through May 6, 2005.

About Targacept
Targacept is a biopharmaceutical company engaged in the design, discovery and development of a new class of drugs to treat multiple diseases and disorders of the central nervous system by selectively targeting neuronal nicotinic acetylcholine receptors, or NNRs. NNRs are found on nerve cells throughout the nervous system and serve as key regulators of nervous system activity. Targacept’s product candidates are designed to selectively target specific NNR subtypes to promote therapeutic effects and limit or eliminate adverse side effects. Targacept has a marketed product, Inversine(R), product candidates in clinical development for cognitive impairment, including Alzheimer’s disease and age associated memory impairment, pain and depression, and multiple ongoing preclinical programs.

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Alan Musso, VP and CFO
Targacept, Inc.
Tel: (336) 480-2186
Email: alan.musso@targacept.com


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