METHYLGENE FOURTH QUARTER AND FULL YEAR 2008 RESULTS
CONFERENCE CALL NOTICE

Montreal, Quebec. March 24, 2009 - 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.