PRAECIS PHARMACEUTICALS INCORPORATED To Announce First Quarter Financial Results on Friday, May 5, 2006

PRAECIS PHARMACEUTICALS INCORPORATED (NASDAQ: PRCS),
today announced that it will report First Quarter 2006 financial
results on Friday, May 5, 2006, before the financial markets open.
Company management will host a conference call beginning at 9:00 a.m.,
EDT, with members of the investment community.

   The Company's conference call may be accessed live by visiting
PRAECIS' website at http://www.praecis.com under "Investors" and
"Webcast Live." Interested parties also may listen to a replay of the
call beginning Friday, May 5, at 12:00 Noon, EDT, until midnight
Friday, May 12, by calling 888-203-1112 or 719-457-0820, and entering
the passcode 6614522.

   PRAECIS PHARMACEUTICALS INCORPORATED is a biopharmaceutical
company focused on the discovery and development of novel compounds
that have the potential to address unmet medical needs or improve
existing therapies. PRAECIS has a novel MetAP-2 inhibitor, PPI-2458,
in clinical development for cancer indications, including
non-Hodgkin's lymphoma and solid tumors, as well as an innovative drug
discovery technology, DirectSelect(TM), which enables the generation
and practical use of ultra-large libraries for the discovery of orally
active compounds for drug development. PRAECIS has received approval
to market Plenaxis(R) in both the United States and Germany.