Media advisory - Oncolytics Biotech Inc. to Present at Invest Northwest CEO and Investor Conference



    CALGARY, March 15 /CNW/ - Dr. Brad Thompson, President and CEO of
Oncolytics Biotech Inc. (TSX: ONC, NASDAQ:   ONCY), will present a corporate
overview to institutional investors, pension fund managers, pharmaceutical and
biotech corporate partners and other financial professionals at the Invest
Northwest CEO and Investor Conference at the Bell Harbor International
Conference Center in Seattle, Washington on Tuesday, March 20, 2007 at
3:55 p.m. PT.
    A live audio webcast of the presentation will be available at:
http://www.wsw.com/webcast/in5/oncy/ or on the company's website at
www.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 accessible following the presentation at
www.oncolyticsbiotech.com.

    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 Phase I and Phase II human trials using
REOLYSIN(R), its proprietary formulation of the human reovirus, alone and in
combination with radiation or chemotherapy. For further information about
Oncolytics, please visit www.oncolyticsbiotech.com

    The presentation and webcast times are 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(R) as
a cancer treatment, the success and timely completion of clinical studies and
trials, uncertainties related to the research and development of
pharmaceuticals, uncertainties related to the regulatory process and general
changes to the economic environment. 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.
    %SEDAR: 00013081E




For further information:

For further information: Oncolytics Biotech Inc., Cathy Ward, 210, 1167
Kensington Cr NW, Calgary, Alberta T2N 1X7, Tel: (403) 670-7377, Fax: (403)
283-0858, cathy.ward@oncolytics.ca; The Equicom Group, Nick Hurst, 600, 205
5th Ave. SW, Calgary, Alberta T2P 2V7, Tel: (403) 538-4845, Fax: (403)
266-2453, nhurst@equicomgroup.com; The Investor Relations Group, Erika Moran,
11 Stone St, 3rd Floor, New York, NY 10004, Tel: (212) 825-3210, Fax: (212)
825-3229, emoran@investorrelationsgroup.com


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