CALGARY, AB - December 12, 2001 – Oncolytics Biotech Inc. (TSE:ONC), (NASDAQ:ONCY), will host a conference call at 9:00 a.m. (Eastern time) on December 13, 2001 to comment on its Phase I interim results using REOLYSIN®, a human Reovirus based product, for the treatment of various cancers. 

A live audio webcast of the conference call will be available through www.oncolyticsbiotech.com andwww.financialdisclosure.ca. Please connect to this website at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be needed to hear the webcast. A replay of the webcast will be available for 90 days starting on December 14, 2001 at www.oncolyticsbiotech.com andwww.financialdisclosure.ca. A replay of the conference call will also be available by telephone from approximately 12:00 noon (Eastern time) on December 13, 2001 through December 20, 2001. To access the replay, dial, 1-800-408-3053 or 416-695-5800 and enter reservation number 992243.

Minimum requirements to listen to the live broadcast are: a computer with speakers, the RealPlayer software, downloadable free from www.real.com/products/player/index.html, and an active connection to the Internet. 

About Oncolytics Biotech Inc.
Oncolytics is a Calgary-based biotechnology company focused on the development of the human reovirus-based product, REOLYSIN®, as a potential cancer therapeutic. Oncolytics researchers have demonstrated that reovirus is able to selectively kill cancer cells and, in vitro, kill human cancer cells derived from many types of cancer including breast, prostate, pancreatic and brain tumours. Research has also yielded successful cancer treatment results in a number of animal models.