CALGARY, Alberta, October 20, 2003 – Dr. Brad Thompson, President and CEO of Oncolytics Biotech Inc. (TSX: ONC, NASDAQ: ONCY), will present a corporate overview of the Company at the Rodman & Renshaw Techvest Healthcare Conference on Wednesday, October 22nd at 9:00 AM (ET). Oncolytics is one of 200 invited companies to present at this conference to be held at the Boston Marriott Long Wharf Hotel October 21-23, 2003.

A live audio webcast of the presentation will be available at: 
http://www.wallstreetwebcasting.com/webcast/rrshq/oncy or on the company’s website atwww.oncolyticsbiotech.com. 

It is recommended that listeners log on 15 minutes in advance of the presentation to register and download any necessary software. An audio replay will be available following the presentation on the Rodman and Renshaw website.

About Oncolytics Biotech Inc.
Oncolytics is a Calgary-based biotechnology company focused on the development of REOLYSIN®, its proprietary formulation of the human reovirus, as a potential cancer therapeutic. Oncolytics’ researchers have demonstrated that the reovirus is able to selectively kill human cancer cells in vitro that are derived from many types of cancer, including breast, prostate, pancreatic and brain tumours, and have also demonstrated successful cancer treatment results in a number of animal models. Phase I clinical trial results have indicated that there were no toxicology-related issues with the administration of the reovirus, and that the reovirus demonstrated activity in tumours injected with REOLYSIN®. 

The webcast time is subject to change. This release and the presentation related thereto contain forward-looking statements which involve known and unknown risks, delays, uncertainties and other factors not under the Company’s control and which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward-looking statements.