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Targacept's product candidates are designed to selectively target
specific NNR subtypes to promote therapeutic effects and limit adverse side
effects.

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The
presentation will take place at 1:00 p.

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, Targacept, Inc .

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, Targacept, Inc. The presentation is scheduled to occur on Monday, May 2, 2005 at
3:30 PM at the Hyatt Regency Hotel in Baltimore, Maryland.

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, President and Chief Executive Officer, is scheduled
to present a corporate update at the Deutsche Bank 30th Annual Health Care
Conference. NNRs are found on nerve cells
throughout the nervous system and serve as key regulators of nervous system
activity .

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D.

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, President and Chief Executive Officer, will present
at the Pacific Growth Equities 2005 Life Sciences Growth Conference.

Targacept to Present at the Deutsche Bank 30th Annual Health Care Conference

Donald deBethizy, Ph.

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com/cgi-bin/prnh/20010517/CHTH002LOGO )

About Targacept
Targacept is a biopharmaceutical company engaged in the design, discovery
and development of a new class of drugs to treat multiple diseases and
disorders of the central nervous system by selectively targeting neuronal
nicotinic acetylcholine receptors, or NNRs.

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(Logo: NewsCom: http://www.newscom .

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Targacept to Present at Pacific Growth Equities 2005 Life Sciences Growth Conference

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WINSTON -SALEM, N.D.

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, a central
nervous system-focused biopharmaceutical company, announced today that J. WINSTON-SALEM, N.

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(Pacific Time) on Wednesday, June 8,
2005 at the Mark Hopkins Intercontinental Hotel in San Francisco.

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NNRs are found on nerve cells
throughout the nervous system and serve as key regulators of nervous system
activity.

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(Logo: http://www.newscom.C., a central
nervous system-focused biopharmaceutical company, announced today that J.

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Targacept has a marketed product , Inversine(R) (mecamylamine
hydrochloride), product candidates in clinical development for cognitive
impairment, including Alzheimer's disease and age associated memory
impairment, pain and depression , and multiple ongoing preclinical programs.

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Donald deBethizy, Ph.com/cgi-bin/prnh/20010517/CHTH002LOGO )

About Targacept
Targacept is a biopharmaceutical company engaged in the design, discovery
and development of a new class of drugs to treat multiple diseases and
disorders of the central nervous system by selectively targeting neuronal
nicotinic acetylcholine receptors, or NNRs. Targacept's product candidates are designed to selectively target
specific NNR subtypes to promote therapeutic effects and limit adverse side
effects. Targacept has a marketed product, Inversine (R) (mecamylamine
hydrochloride), product candidates in clinical development for cognitive
impairment , including Alzheimer's disease and age associated memory
impairment, pain and depression, and multiple ongoing preclinical programs.

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