Oncolytics Biotech® Inc. Announces Details of 2012 Annual and Special Meeting of Shareholders

CALGARY, June 15, 2012 /PRNewswire/ – Oncolytics Biotech Inc. (TSX: ONC)
(NASDAQ: ONCY) announced today that its 2012 Annual and Special Meeting
of Shareholders will be held on Wednesday, June 20, 2012 at 4:30 p.m.
at the Hilton Toronto Hotel, 145 Richmond Street West, Toronto,

Following the business portion of the meeting, Dr. Brad Thompson,
President and CEO of Oncolytics, will discuss recent progress in the
development of REOLYSIN® as a potential cancer therapeutic.

A live audio webcast of the presentation will begin at approximately
4:45 p.m. ET: http://w.on24.com/r.htm?e=482065&s=1&k=F0C2FAB4FECFD078771A41104C33A91A or on the company’s website at www.oncolyticsbiotech.com/presentations. 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 accessible following the presentation at www.oncolyticsbiotech.com/presentations.

About Oncolytics Biotech Inc.
Oncolytics is a Calgary-based biotechnology company focused on the
development of oncolytic viruses as potential cancer therapeutics. 
Oncolytics’ clinical program includes a variety of human trials
including a Phase III trial in head and neck cancers using REOLYSIN,
its proprietary formulation of the human reovirus. For further
information about Oncolytics, please visit: www.oncolyticsbiotech.com.

The presentation 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. Such risks and uncertainties include,
among others, the efficacy of REOLYSIN as a cancer treatment, the
success and timely completion of clinical studies and trials,
uncertainties related to the research and development of
pharmaceuticals and uncertainties related to the regulatory process.
Investors should consult the Company’s quarterly and annual filings
with the Canadian and U.S. securities commissions for additional
information on risks and uncertainties relating to the forward-looking
statements. Investors are cautioned against placing undue reliance on
forward-looking statements. The Company does not undertake to update
these forward-looking statements, except as required by applicable

SOURCE Oncolytics Biotech Inc.