ICOS to Participate in Upcoming Investment Conference

ICOS Corporation (Nasdaq:ICOS) announced today that it
will participate in the Merrill Lynch Global Pharmaceutical,
Biotechnology, and Medical Device Conference on Thursday, February 9,
2006. The presentation, which may include a discussion of financial
guidance and future plans, will be webcast.
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    Merrill Lynch Conference Presentation
    Date:    February 9, 2006
    Time:    11:00 a.m. EST
    Speaker: Paul N. Clark, Chairman, President and CEO
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   A webcast of this ICOS presentation will be available in real-time
and a replay will be available through February 16, 2006. The webcast
can be accessed through the ICOS Web site, www.icos.com, Investor --
Events section.
   Additional information on ICOS, including past press releases, is
also available at www.icos.com.

   About ICOS Corporation:

   ICOS Corporation, a biotechnology company headquartered in
Bothell, Washington, is dedicated to bringing innovative therapeutics
to patients. Through Lilly ICOS LLC, ICOS is marketing its first
product, Cialis(R) (tadalafil), for the treatment of erectile
dysfunction. ICOS is working to develop treatments for serious unmet
medical conditions such as pulmonary arterial hypertension, benign
prostatic hyperplasia, hypertension, cancer and inflammatory diseases.

   This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements involve risks and uncertainties that could
cause ICOS' results and the timing of certain events to differ
materially from those discussed in the forward-looking statements,
including risks associated with product commercialization,
manufacturing activities, clinical development, regulatory approvals,
intellectual property claims and litigation and other risks detailed
in ICOS' latest Quarterly Report on Form 10-Q and its other SEC
filings.