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Targacept to Present at BioCentury Newsmakers and Bear Stearns Conferences

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Targacept to Present at BioCentury Newsmakers and Bear Stearns Conferences

Winston-Salem, North Carolina

August 31, 2007

Targacept, Inc. (NASDAQ: TRGT), a clinical-stage biopharmaceutical company developing a new class of drugs known as NNR Therapeutics (TM), today announced that Alan A. Musso, Vice President and Chief Financial Officer, is scheduled to present at the “Newsmakers in the Biotech Industry” conference sponsored by BioCentury. The conference will be held on Thursday, September 6, 2007 at the Millennium Broadway Hotel & Conference Center in New York City. Mr. Musso will speak at 4:00 p.m. Eastern Daylight Time in Presentation Room 402/403.
 
Mr. Musso is also scheduled to present at the Bear Stearns 20th Annual Healthcare Conference on Monday, September 10, 2007 at The Grand Hyatt in New York City.  His presentation will begin at 2:00 p.m. Eastern Daylight Time in the Carnegie/Alvin Room.

Both presentations will be webcast and accessible from the Investor Relations page of the Company’s website at www.targacept.com.  The webcasts will also be available for replay on the Company’s website for two weeks following each conference. To ensure a timely connection, 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. Its 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 anxiety disorders, as well as multiple preclinical programs. Targacept also has strategic alliances with AstraZeneca and GlaxoSmithKline. Additional information about Targacept is available at http://www.targacept.com/.

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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