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Targacept to Present at Upcoming Investor Conferences

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Targacept to Present at Upcoming Investor Conferences

J. Donald deBethizy Scheduled to Present at C.E. Unterberg, Towbin Life Sciences Conference and CIBC World Markets Annual Healthcare Conference

Winston-Salem, North Carolina

October 25, 2006

Targacept, Inc. ( Nasdaq: TRGT), a clinical-stage biopharmaceutical company developing a new class of drugs known as NNR Therapeutics(TM), today announced that J. Donald deBethizy, Ph.D., President and Chief Executive Officer, will be presenting at two upcoming investor conferences:

  • C.E. Unterberg, Towbin Life Sciences Conference on Tuesday, October 31, at 8:30 a.m. Eastern Time at The Palace Hotel in New York City.
  • CIBC World Markets 17th Annual Healthcare Conference on Monday, November 6, at 2:05 p.m. Eastern Time at The Waldorf-Astoria Hotel in New York City.

Both presentations will be webcast and accessible from the Investor Relations section of the Company’s website,http://www.targacept.com. Each webcast will also be available for replay on the Company’s website for two weeks following the corresponding conference. To ensure a timely connection to a webcast, it is recommended that users register at least 15 minutes prior to the scheduled start time.

About Targacept
Targacept is a clinical-stage biopharmaceutical company that discovers and develops NNR Therapeutics, a new class of drugs for the treatment of central nervous system diseases and disorders. Targacept’s product candidates selectively modulate neuronal nicotinic receptors that serve as key regulators of the nervous system activity to promote therapeutic effects and limit adverse side effects. Targacept has product candidates in development for Alzheimer’s disease and cognitive deficits in schizophrenia, pain and depression, and multiple preclinical programs. Targacept is located in Winston-Salem, North Carolina.

NNR Therapeutics(TM) is a trademark of Targacept, Inc.

Contacts:

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

or

Michelle Linn
Linnden Communications
Tel: (508) 419-1555
Email:linnmich@comcast.net


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