PRCS Praecis Pharmaceuticals (MM)

PRAECIS PHARMACEUTICALS INCORPORATED (NASDAQ: PRCS), today announced that it will report Second Quarter 2006 financial results on Friday, August 4, 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, August 4, at 12:00 Noon, EDT, until midnight Friday, August 11, by calling 888-203-1112 or 719-457-0820, and entering the passcode 4327855. 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.