Rigel to Host Update Conference Call

SOUTH SAN FRANCISCO, Calif., Oct. 31 /PRNewswire-FirstCall/ -- Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) today announced that members of Rigel's senior management team will host a conference call with simultaneous webcast to provide a company update on November 3, 2008 at 5:30 a.m. PST/8:30 a.m. EST.

Conference Call and Webcast Information

To access the live call, please dial 800-265-0241 (domestic) or 617-847-8704 (international) 10 minutes prior to the start time and use the passcode 39911675. A replay of the call will be available, in podcast format, at approximately 9:30 a.m. EST on November 3, 2008 until November 10, 2008. To access the replay, please dial 888-286-8010 (domestic) or 617-801-6888 (international) and use the passcode 37653591. The conference call will also be webcast live and can be accessed from Rigel's website at http://www.rigel.com. Please connect to Rigel's website several minutes prior to the start of the live webcast to ensure adequate time for any software downloads that may be necessary.

About Rigel (http://www.rigel.com)

Rigel is a clinical-stage drug development company that discovers and develops novel, small-molecule drugs for the treatment of inflammatory/autoimmune diseases and cancer, as well as viral and metabolic diseases. Our pioneering research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. Rigel's productivity has resulted in strategic collaborations with large pharmaceutical partners to develop and market our product candidates. Rigel has product development programs in inflammatory/autoimmune diseases such as rheumatoid arthritis, thrombocytopenia and asthma, as well as in cancer.

     Contact: Raul Rodriguez
     Phone: 650.624.1302
     Email: invrel@rigel.com

     Media Contact: Susan C. Rogers, Alchemy Consulting, Inc.
     Phone: 650.430.3777
     Email: susan@alchemyemail.com

SOURCE Rigel Pharmaceuticals, Inc.

Released October 31, 2008