Point Therapeutics' Diabetes Program Presented at Keystone Symposium; PT-630 Demonstrates Improvement of Glucose Regulation and

Point Therapeutics, Inc. (NASDAQ:POTP) announced on
Saturday, March 4, 2006 at the Keystone Symposium in Santa Fe, New
Mexico, that the Company's investigational DPP-4 inhibitor for the
treatment of type 2 diabetes, PT-630, improved glucose handling,
insulin secretion and active GLP-1 levels in several rodent models of
diabetes. The study treatment effects of PT-630 were greater than that
of metformin, a commonly used drug to treat type 2 diabetes and a
cyanopyrrolidine (CP), a DPP-4 inhibitor currently in clinical
development to treat type 2 diabetes. All three agents were compared
by chronic administration (44 days) in Zucker Diabetic Fatty rats.
   In the preclinical chronic administration study, the data revealed
that PT-630 was more effective than the other two study compounds in
improving parameters associated with the progression of type 2
diabetes. Specifically, there were improvements in whole body
sensitivity to insulin, a 50% reduction in fasting plasma
triglycerides and glucose levels and a 1.7% reduction (a 26.4%
reduction compared to the controlled treated group) in HbA1c. There
were no such reductions in triglycerides and glucose levels with
metformin and the CP DPP-4 inhibitor, and HbA1c was only reduced by
0.9% and 0.5%, respectively, with metformin and the CP DPP-4
inhibitor. All of the above suggests the ability of PT-630 to achieve
glucose control in type 2 diabetes over the long-term.
   "These preclinical studies are promising because PT-630 not only
improved insulin and glucose responses, which are common markers of
diabetes, but also demonstrated an improved effect when metabolic
parameters associated with long-term progression of the disease were
measured," said Nazneen Aziz, Vice President of External Research at
Point Therapeutics. "The findings suggest that compared with the other
compounds evaluated PT-630 may have a more comprehensive antidiabetic
activity."
   PT-630, Point Therapeutics' lead diabetes compound, is an
inhibitor of DPP-4, which is a widely recognized target in the
treatment of diabetes. DPP-4 degrades the active form of GLP-1, an
intestinal peptide hormone responsible for regulating blood glucose
levels. When DPP-4 is inhibited, it leads to an elevation in the
circulating pool of active GLP-1, thereby greatly improving the
control of blood glucose levels in type 2 diabetes. Active GLP-1 is
also thought to have beneficial effects on pancreatic beta cell mass.
   "We have spent the past decade developing and refining technology
around a portfolio of DPP inhibitors to treat serious diseases. As our
phase 3 talabostat trials for non-small cell lung cancer (NSCLC) and
multiple phase 2 trials for other oncology indications advance in the
clinic, we are allocating appropriate resources to our earlier-staged
research programs. PT-630 represents a product opportunity that we
believe is clearly differentiated from other DPP-4 inhibitors
currently being developed to treat type 2 diabetes. We are encouraged
by the results demonstrated to date and mindful of the value a new
treatment for diabetes can bring to millions of patients worldwide,"
said Don Kiepert, President and Chief Executive Officer of Point
Therapeutics.

   About Point Therapeutics, Inc.:

   Point is a Boston-based biopharmaceutical company developing a
portfolio of dipeptidyl peptidase (DPP) inhibitors for use in cancer,
type 2 diabetes and as vaccine adjuvants. Point is currently studying
its lead product candidate, talabostat, in two Phase 3 trials in
NSCLC. Point is also studying talabostat in several Phase 2 trials,
including as a single-agent in metastatic melanoma, in combination
with cisplatin in metastatic melanoma, in combination with rituximab
in advanced chronic lymphocytic leukemia, and in combination with
gemcitabine in metastatic pancreatic cancer. In addition, Point's
portfolio includes two other DPP inhibitors in preclinical
development -- PT-630 for type 2 diabetes, and PT-510 as a vaccine
adjuvant.

   Certain statements contained herein are not strictly historical
and are "forward-looking" statements as defined in the Private
Securities Litigation Reform Act of 1995. This information includes
statements with respect to the company's clinical development programs
and the timing of initiation and completion of its clinical trials.
Forward-looking statements are statements that are not historical
facts, and can be identified by, among other things, the use of
forward-looking language, such as "believes," "feels," "expects,"
"may," "will," "should," "seeks," "plans," "schedule to,"
"anticipates" or "intends" or the negative of those terms, or other
variations of those terms of comparable language, or by discussions of
strategy or intentions. A number of important factors could cause
actual results to differ materially from those projected or suggested
in the forward looking statement, including the risk factors described
in Point's quarterly report on Form 10-Q for the quarter ended
September 30, 2005 and from time to time in Point's periodic and other
reports filed with the Securities and Exchange Commission.