MethylGene Fourth Quarter and Full Year 2008 Results Conference Call Notice

MONTREAL, QUEBEC, Mar 24 (MARKET WIRE) --
MethylGene Inc. (TSX: MYG) will release its results for the fourth
quarter and full year ended December 31, 2008 prior to market open on
Monday, March 30, 2009 and will host a conference call and audio webcast
on the same day at 11:00 am ET. MethylGene would like to invite all
interested parties to participate by dialing 416-644-3416 or
1-800-732-6179.

Representing MethylGene on the call will be:

Donald F. Corcoran, President and Chief Executive Officer
Dr. Jeffrey M. Besterman, Executive Vice President, Research and
Development and Chief Scientific Officer
Dr. Robert E. Martell, Vice President and Chief Medical Officer
Klaus Kepper, Vice President Finance and Chief Financial Officer

A question and answer session will follow formal remarks, at which
time the operator will direct participants as to the correct procedure
for submitting questions. A live audio webcast of the conference call
will be available at www.methylgene.com.

A telephone replay of the conference call will also be available from
March 30 through April 6, 2009. To access the replay, dial 416-640-1917
or 1-877-289-8525 and enter the reservation number 21300881#.

About MethylGene

MethylGene Inc. (TSX: MYG) is a publicly-traded, clinical stage,
biopharmaceutical company focused on the discovery, development and
commercialization of novel therapeutics for cancer. The Company's product
candidates include: MGCD265, an oral, multi-targeted kinase inhibitor
targeting the c-Met, VEGF, Tie-2 and Ron receptor tyrosine kinases that
is in Phase I clinical trials for solid tumor cancers; MGCD290, a fungal
Hos2 (HDAC) inhibitor being developed for use in combination with
fluconazole for serious fungal infections that is also in Phase I
clinical studies; and MGCD0103, an oral, isoform-selective HDAC inhibitor
which has been in multiple clinical trials for solid tumors and
hematological malignancies and is licensed to Taiho Pharmaceutical. A
fourth compound discovered using MethylGene's HDAC platform, EVP-0334 - a
potential cognitive enhancing agent, is in a Phase I study sponsored by
EnVivo Pharmaceuticals. MethylGene also has a funded collaboration with
Otsuka Pharmaceutical Co. Ltd. for applications in ocular diseases using
the Company's proprietary kinase inhibitor chemistry. Please visit our
website at www.methylgene.com.

Certain statements contained in this news release, other than statements
of fact that are independently verifiable at the date hereof, may
constitute forward-looking statements. Such statements, based as they are
on the current expectations of management of MethylGene, inherently
involve numerous risks and uncertainties, known and unknown, many of
which are beyond MethylGene's control. These risks and uncertainties
could cause future results, performance or achievements to differ
significantly from the results, performance or achievements expressed or
implied by such forward-looking statements. Such results, performance or
achievements include, but are not limited to, the timing and effects of
regulatory action; the continuation of collaborations; the results of
clinical trials; the timing of enrollment or completion of clinical
trials; the success, efficacy or safety of MGCD0103, MGCD265 or MGCD290;
the ability to scale up, formulate and manufacture sufficient GMP,
clinical or commercialization quantities of MGCD0103, MGCD265 or MGCD290,
and the relative success or the lack of success in developing and gaining
regulatory approval and/or market acceptance for any compound or new
product including MGCD0103, MGCD265 or MGCD290. Such risks include, but
are not limited to, the impact of general economic conditions, economic
conditions in the pharmaceutical industry, changes in the regulatory
environment in the jurisdictions in which MethylGene does business, stock
market volatility, fluctuations in costs, expectations with respect to
our intellectual property position and our ability to protect our
intellectual property and operate our business without infringing upon
the intellectual property rights of others, changes in the competitive
landscape including changes in the standard of care for the various
indications in which MethylGene is involved, and changes to the
competitive environment due to consolidation, as well as other risks,
which you are urged to read, as described in MethylGene's Annual
Information Form for the fiscal year ending December 31, 2007, under the
heading 'risk factors and all other documents filed by the Company that
can be found at www.sedar.com. Consequently, actual future results may
differ materially from the anticipated results expressed in the
forward-looking statements. The reader should not place undue reliance on
the forward-looking statements included in this presentation. These
statements speak only as an update on the date they are made and
MethylGene is under no obligation to revise such statements as a result
of any event, circumstance or otherwise except in accordance with law.

Contacts:
Rx Communications Group, LLC
Rhonda Chiger
917-322-2569
rchiger@rxir.com

MethylGene Inc.
Donald F. Corcoran
President & CEO
514-337-3333 ext. 373
mctavishk@methylgene.com

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