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To: All persons and entities who purchased the common stock of Cell Therapeutics, Inc. between March 25, 2008 and March 22, 2010, both dates inclusive.

This Summary Notice is given pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Western District of Washington (the "Court"), dated March 16, 2012. The purpose of this Summary Notice is to inform you of the proposed settlement of the above-entitled class action (the "Action") against defendants Cell Therapeutics, Inc., James A. Bianco, Louis A. Bianco, and Craig W. Philips.

A Settlement Hearing will be held before the Hon. Marsha J. Pechman, United States District Judge, at the United States Courthouse, 700 Stewart Street, Seattle, Washington 98101, at 1:30 PM on July 20, 2012 in order: (1) to determine whether the Court should grant certification to the Class pursuant to Fed. R. Civ. P. 23(a) and (b)(3); (2) to determine whether the Settlement consisting of $19,000,000 in cash should be approved as fair, reasonable, and adequate to the Class and the proposed Judgment entered; (3) to determine whether the proposed Plan of Allocation for the proceeds of the settlement is fair and reasonable, and should be approved by the Court; (4) to determine whether any applications for attorneys' fees or expenses to Plaintiffs' Counsel should be approved; and (5) to rule upon such other matters as the Court may deem appropriate.

If you purchased the common stock of Cell Therapeutics, Inc. between March 25, 2008 and March 22, 2010 (both dates inclusive), and are not otherwise excluded from the Class, you are a Class Member. Class Members will be bound by the final judgment of the Court. If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim postmarked no later than July 28, 2012, establishing that you are entitled to recovery. A Proof of Claim is being sent with the Notice. If you are a Class Member and need an additional Proof of Claim, copies may be obtained by telephoning the Claims Administrator at 877-519-0810.

The full notice may be accessed at: www.gcginc.com.

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