Cypress Bioscience, Inc. to Present at FBR Capital Markets Spring Investor Conference

Market Wire, May, 2008

Cypress Bioscience, Inc. (NASDAQ: CYPB) today announced that Sabrina Martucci Johnson, its Chief Operating Officer and Chief Financial Officer, will present at the FBR Capital Markets 12th Annual Spring Investor Conference on Wednesday, May 28, 2008.

The FBR conference is being held at the Grand Hyatt Hotel, New York, NY. Ms. Johnson is scheduled to present on Wednesday, May 28th at 12:50 p.m. Eastern Time.

Investors, analysts and the general public are invited to listen to a live audio broadcast of this presentation over the Internet. The broadcast can be accessed at http://www.wsw.com/webcast/fbr21/cypb/

A replay of the presentation will be available at the same web address as well as on Cypress' website, http://www.cypressbio.com/news/events.php .

About Cypress Bioscience, Inc.

Cypress Bioscience is committed to developing and commercializing pharmaceutical products and personalized medicine laboratory services that allow physicians to serve unmet medical needs. Cypress' strategy involves evaluating various other potential strategic transactions, including the potential acquisition of products, product candidates, technologies and companies, and other alternatives.

For more information about Cypress, please visit the Company's website at www.cypressbio.com .

For additional information please contact For Cypress Bioscience: Michael Hufford, VP Corporate Development Mary Gieson, Investor Relations (858) 452-2323 Email Contact