TELIK ANNOUNCES QUARTERLY FINANCIAL RELEASE, CONFERENCE CALL AND WEBCAST

South San Francisco, CA, February 7, 2003 — Telik, Inc. (Nasdaq: TELK) announced that its quarterly conference call and webcast has been scheduled for Thursday, February 13, 2003 at 4:30 p.m. Eastern time. The call will follow the release of Telik's fourth quarter 2002 financial results after the close of the financial markets on February 13, 2003.

Participants may access the live webcast via Telik's website at www.telik.com or by telephone at (612) 332-0228. A replay of the webcast will be available on the Telik website from approximately 8:30 p.m. Eastern time on February 13 through February 20, 2003.

About Telik

Telik, Inc. of South San Francisco, CA is a biopharmaceutical company working to discover, develop and commercialize small molecule drugs to treat serious diseases for which there is significant demand for new therapies. The company's most advanced drug development candidate is TLK286, a tumor activated small molecule drug that is in Phase 2 clinical trials in ovarian, non-small cell lung, colorectal and breast cancer. Telik's product candidates were discovered using its proprietary drug discovery technology, TRAP, which enables the rapid and efficient discovery of small molecule drug candidates. Additional information is available at www.telik.com.

You should not rely on forward-looking statements contained in this press release. Telik can give no assurance with regard to these statements, as they are subject to various risks and uncertainties. All of Telik's product candidates, including TLK286, are in the early stages of development, and the potential benefits of each must still be proven. More detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release may be found in Telik's periodic filings with the Securities and Exchange Commission. Telik assumes no obligation to update any information in this press release.

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Contact:
Carol DeGuzman
Senior Director, Corporate Communications
Telik, Inc.
Tel 650-845-7728
Email cdeguzman@telik.com


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