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Targacept to Present at the Seventh Annual Needham & Company, LLC Biotechnology and Medical Technology Conference

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Targacept to Present at the Seventh Annual Needham & Company, LLC Biotechnology and Medical Technology Conference

Winston-Salem, North Carolina

June 05, 2008

Targacept, Inc. (NASDAQ:TRGT), a clinical-stage biopharmaceutical company developing a new class of drugs known as NNR Therapeutics (TM), today announced that Alan Musso, Vice President and Chief Financial Officer, is scheduled to present at the Seventh Annual Needham & Company, LLC Biotechnology and Medical Technology Conference at The New York Palace Hotel, on Thursday, June 12, 2008 at 2:30 p.m. Eastern Daylight Time.

Mr. Musso’s presentation will be webcast and accessible from the Investor Relations section of Targacept’s website, www.targacept.com. The webcast will also be available for replay for at least two weeks following the presentation. To ensure a timely connection to the 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, cognitive dysfunction in schizophrenia, pain and depression, as well as multiple preclinical programs. Targacept also has a cognition-focused collaboration with AstraZeneca and a strategic alliance with GlaxoSmithKline. Targacept’s news releases are available on its website at www.targacept.com.

Contacts:

Alan Musso, VP and CFO
336-480-2186
Email: alan.musso@targacept.com

Michelle Linn
Linnden Communications
508-362-3087
Email: michelle@linndencom.com


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