Pain Therapeutics, Inc. (PTIE) Chief Executive Officer to Ring the NASDAQ Stock Market Closing Bell


ADVISORY, May 29, 2008 (PRIME NEWSWIRE) --



 What:
 Remi Barbier, CEO of Pain Therapeutics, Inc. (PTIE), will preside over
 the closing bell.

 Where:
 NASDAQ MarketSite - 4 Times Square - 43rd & Broadway - Broadcast Studio

 When:
 Friday, May 30, 2008 at 4:00 p.m. EDT

 Media Contacts:
 Christi Waarich
 (650) 645-1924; cwaarich@paintrials.com

 NASDAQ MarketSite:
 Jolene Libretto; 646.441.5220; mobile - 347.219.9539
 Jolene.Libretto@nasdaqomx.com

Feed Information:

The Closing Bell is available from 3:50 p.m. to 4:05 p.m. on uplink IA-6 C-band/transponder 17. The downlink frequency is 4040 Vertical; Audio 6.2-6.8. The feed can also be found on Waterfront fiber 1623. If you have any questions, please contact Jolene Libretto at (646) 441-5220.

Radio Feed:

An audio transmission of the Closing Bell is also available from 3:50 p.m. to 4:05 p.m. on uplink IA6 C band / transponder 24, downlink frequency 4180 horizontal. The feed can be found on Waterfront fiber 1623 as well.

Webcast:

A live webcast of the NASDAQ Closing Bell will be available at: http://www.nasdaq.com/about/marketsitetowervideo.asx

Photos:

To obtain a hi-resolution photograph of the Market Close, please go to http://www.nasdaq.com/reference/marketsite_events.stm and click on the market close of your choice.

About Pain Therapeutics, Inc. (PTIE):

Pain Therapeutics, Inc. is a biopharmaceutical company that develops novel drugs. In December 2007, the Company announced that Remoxy(tm), an abuse-resistant, long-acting version of oxycodone, met the primary endpoint (p less than 0.01) of a pivotal Phase III study in over 400 patients with osteoarthritis; as a result, Pain Therapeutics plans to file an NDA for Remoxy in Q2 2008. Pain Therapeutics also has other drug candidates in clinical programs, including a novel radio-labeled monoclonal antibody to treat metastatic melanoma, as well as PTI-202 and Oxytrex(tm). In addition, the Company is working on a new treatment for patients with hemophilia. The FDA has not yet evaluated the merits, safety or efficacy of the Company's drug candidates. For more information, please visit www.paintrials.com.