Targacept to Present at Three Upcoming Investor Conferences

Winston-Salem, North Carolina Sep 26, 2007

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, is scheduled to present at the “ThinkClinic” educational forum for healthcare investors sponsored by ThinkEquity Partners LLC at The Pierre in New York City at 2:35 p.m. Eastern Daylight Time on October 4, 2007;
• Alan A. Musso, Vice President and Chief Financial Officer, is scheduled to present at the Natixis Bleichroeder Hidden Gems Conference at The Carlton in New York City at 8:30 a.m. Eastern Daylight Time on October 8, 2007; and
• Dr. deBethizy is also scheduled to present at the BIO Investor Forum at the Palace Hotel in San Francisco at 10:45 a.m. Pacific Daylight Time on October 10, 2007.

Each presentation will be webcast and accessible from the Investor Relations page of the Company’s website at www.targacept.com.  Each webcast will also be available for replay on the Company’s website for two weeks following the corresponding event. 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 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