3/28/2006 2:00:00 AM ET News Release Index 

Oncolytics Biotech Inc. to Webcast Phase I REOLYSIN®/Radiation Clinical Trial Results
 
CALGARY, AB --- March 28, 2006 – Dr. Brad Thompson, President and CEO of Oncolytics Biotech Inc. (TSX: ONC, NASDAQ: ONCY), will host a webcast at 12:00 p.m. ET on Tuesday, April 4, 2006 to provide a clinical trial update specifically focusing on the interim Phase I combination REOLYSIN®/radiation clinical trial results being presented at the American Association for Cancer Research (AACR) Annual Meeting, which runs from April 1-5 in Washington, D.C.

An oral presentation covering the interim results of the Phase I combination clinical trial is scheduled to be delivered by Oncolytics’ collaborators at the AACR Annual Meeting immediately prior to the webcast.

The live audio webcast will be available at: http://w.on24.com/r.htm?e=21624&s=1&k=60E516ABE1419DCAB6502DB7A33029D1 or through www.oncolyticsbiotech.com. Please connect to the link at least 15 minutes prior to the webcast to ensure adequate time for any software download that may be needed. A replay of the webcast will be available at www.oncolyticsbiotech.com and will also be available by telephone through April 13, 2006. To access the telephone replay, dial 1-416-640-1917 or 1-877-289-8525 and enter reservation number 21182106.

About Oncolytics Biotech Inc.
Oncolytics is a Calgary-based biotechnology company focused on the development of oncolytic viruses as potential cancer therapeutics. Oncolytics’ clinical program includes a variety of Phase I and Phase I/II human trials using REOLYSIN®, its proprietary formulation of the human reovirus, alone and in combination with radiation. For further information about Oncolytics, please visit www.oncolyticsbiotech.com

The webcast time is subject to change. This release and the webcast related thereto contain forward-looking statements which involve known and unknown risks, delays, uncertainties and other factors not under the Company’s control and which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward-looking statements. Such risks and uncertainties include, among others, the efficacy of REOLYSIN® as a cancer treatment, the success and timely completion of clinical studies and trials, uncertainties related to the research and development of pharmaceuticals and uncertainties related to the regulatory process. Investors should consult the Company’s quarterly and annual filings with the Canadian and U.S. securities commissions for additional information on risks and uncertainties relating to the forward looking statements. Investors are cautioned against placing undue reliance on forward looking statements. The Company does not undertake to update these forward looking statements.



FOR FURTHER INFORMATION PLEASE CONTACT:

Oncolytics Biotech Inc.
Cathy Ward
210, 1167 Kensington Cr NW
Calgary, Alberta T2N 1X7
Tel: 403.670.7377
Fax: 403.283.0858
cathy.ward@oncolytics.ca
www.oncolyticsbiotech.com

The Equicom Group
Nick Hurst
20 Toronto Street
Toronto, Ontario M5C 2B8
Tel: 416.815.0700 ext.226
Fax: 416.815.0080
nhurst@equicomgroup.com

The Investor Relations Group
Damian McIntosh
11 Stone St, 3rd Floor
New York, NY 10004
Tel: 212.825.3210
Fax: 212.825.3229
dmcintosh@investorrelationsgroup.com

RenMark Financial Communications
John Boidman
2080 Rene Levesque Blvd. W.
Montreal, PQ H3H 1R6
Tel: 514.939.3989
Fax: 514.939.3717
jboidman@renmarkfinancial.com


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