NEKTAR THERAPEUTICS ISSUES STATEMENT ON WHISTLE-BLOWER PROCEEDING STATUS

Nektar Therapeutics issued a statement regarding the current status of an ongoing administrative proceeding with Ellen Leznik, former corporate counsel, who left Nektar in February 2005. On or about May 11, 2005, Ms. Leznik filed a whistle-blower complaint with the U.S. Department of Labor ("DOL") claiming she had engaged in protected activity under the Sarbanes-Oxley Act during her employment with Nektar. Following applicable procedures, the complaint was referred to the Occupational Safety and Health Administration ("OSHA") of the DOL for investigation.

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