Point Therapeutics to Present at the New York RedChip Investor Conference

Point Therapeutics, Inc. (NASDAQ:POTP) announced that
Don Kiepert, President and CEO, will present at the New York RedChip
Investor Conference at the Hilton New York in New York City on
Tuesday, August 15, 2006 at 11:30 a.m., Eastern Time. Mr. Kiepert will
review key research and development accomplishments and discuss
upcoming corporate initiatives. A live Web cast of the presentation
will be available on the Company's Web site, www.pther.com.

   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 double blind
placebo-controlled trials in non-small cell lung cancer. 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.