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Targacept to Host NNR Analyst Day in New York

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Targacept to Host NNR Analyst Day in New York

Winston-Salem, North Carolina

November 29, 2006

As previously announced, Targacept, Inc. (NASDAQ: TRGT), a clinical-stage biopharmaceutical company developing a new class of drugs known as NNR Therapeutics(TM), will host a Neuronal Nicotinic Receptor (NNR) Analyst Day on Thursday, December 7, 2006 in New York City. The event will take place from 8:00 a.m. to 11:00 a.m. Eastern Time at The New York Palace Hotel and will focus on developments and potential therapeutic applications in the NNR field. Scheduled speakers include:

• Ronald J. Lukas, Ph.D. – Senior Staff Scientist and Director, Division of Neurobiology, Barrow Neurological Institute
• Edward D. Levin, Ph.D. – Professor, Department of Psychiatry, Duke University Medical Center
• Peter J. Whitehouse, M.D., Ph.D. – Professor of Neurology, Neuroscience, Cognitive Science and Psychiatry, Case Western Reserve University
• Graham E. Cox, Ph.D. – Lead Commercial Director, Neuroscience Division, AstraZeneca
• Irena Melnikova, Ph.D. – Director, MEDACorp
• J. Donald deBethizy, Ph.D. – President and Chief Executive Officer; William S. Caldwell, Ph.D. – Vice President, Drug Discovery and Development; and Geoffrey C. Dunbar, M.D. – Vice President, Clinical Development and Regulatory Affairs, all of Targacept, Inc.

The entire event will be webcast and accessible from the Investor Relations section of the Company’s website, http://www.targacept.com, and will be available for replay at least through January 7, 2007. 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(TM), 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 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.

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

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


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