ICOS to Release Financial Results for 2006 Second Quarter on August 3, 2006

ICOS Corporation (Nasdaq:ICOS) will announce its 2006
second quarter financial results on Thursday, August 3, 2006, after
the market close. At 4:30 p.m. EDT, company management will host a
webcast discussion of financial results and related matters, including
financial guidance and future plans. Access to the discussion can be
obtained as follows.

   LIVE Access on August 3, 2006, 4:30 p.m. EDT:

   --  Phone [phone]; Passcode 834085.

   --  Webcast connection through the ICOS Web site at www.icos.com
        in the Investor/Events section.

   REPLAY Access:

   --  Phone replay accessible from August 3, 2006, 8:00 p.m. EDT,
        for 24 hours at 320-365-3844, Passcode 834085.

   --  Webcast replay, available through August 10, 2006, on the ICOS
        Web site at www.icos.com in the 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 needs such as benign prostatic hyperplasia, hypertension,
pulmonary arterial hypertension, cancer and inflammatory diseases.

   The forward-looking statements contained in this press release
represent ICOS' judgment as of the date of this release. ICOS
undertakes no obligation to publicly update any forward-looking
statements. The biotechnology and pharmaceutical businesses are risky
and there can be no assurance that any particular product or product
candidate will be a commercial success.