December 15, 2005

Biotech CEO Appointed to Seattle Branch Federal Reserve Board

Seattle, WA, December 15, 2005—The Federal Reserve Bank of San Francisco has appointed H. Stewart Parker, President and Chief Executive Officer of Targeted Genetics Corporation to its Seattle Branch board of directors. Her appointment is for a three-year term beginning January 1, 2006.

Ms. Parker succeeds outgoing director Mary Pugh, President of Pugh Capital Management Inc. In addition, Ken Kirkpatrick, Washington State President for U.S. Bank and Jim Gill, President of Pacific Northwest Title, were each reappointed to a second term. Mic Dinsmore, CEO, Port of Seattle, was reappointed as Chair.

Ms. Parker has held the position of Chief Executive at Targeted Genetics since the company's inception in 1989. Targeted Genetics is a Seattle biotechnology company formed to develop gene-based treatments for acquired and inherited diseases.

"Mary has made significant contributions to our monetary policy discussions and to our ongoing building project, and we greatly appreciate her service on the board," said Mark Gould, Senior Vice President and Seattle Branch Manager. "We are very pleased to welcome Stewart to the board, and look forward to the insights she will bring from the biotech industry."

Ms. Parker is the recipient of several awards, including the Small Business Administration's 2001 Small Business Person of the Year for Western Washington, the Forum for Women Entrepreneurs' 2001 Entrepreneur of the Year award, and Finalist awards for the 2000 and 2001 Ernst & Young Pacific NW Entrepreneur of the Year. In 1999 Forbes ASAP Magazine named Ms. Parker one of the top 25 most influential players in biotechnology.

Other members of the Seattle Branch board include Blake Nordstrom, President of Nordstrom Inc., Helvi Sandvik, President of NANA Development Corporation, and David Wyckoff, Chief Executive Officer of Wyckoff Farms.

The Federal Reserve Bank of San Francisco, with branch offices in Los Angeles, Seattle, Salt Lake City, and Portland, and a cash processing office in Phoenix, provides wholesale banking services to financial institutions throughout the nine western states. As the nation's central bank, the Federal Reserve System formulates monetary policy, serves as a bank regulator, administers consumer protection laws, and is fiscal agent for the U.S. government.

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