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QLT Inc. announces initial steps in strategic restructuring
Date:1/16/2008

dermatology. In addition, we utilize three unique technology platforms, photodynamic therapy, Atrigel(R) and punctal plugs with drugs, to create products such as Visudyne(R) and Eligard(R) and future product opportunities. For more information, visit our web site at http://www.qltinc.com.

Atrigel is a registered trademark of QLT USA, Inc.

Visudyne is a registered trademark of Novartis AG.

Eligard is a registered trademark of Sanofi-aventis.

QLT Inc. is listed on the NASDAQ Stock Market under the trading symbol

"QLTI" and on The Toronto Stock Exchange under the trading symbol "QLT."

Certain statements in this press release that are not historical facts constitute "forward-looking statements" of QLT within the meaning of the Private Securities Litigation Reform Act of 1995 and constitute "forward-looking information" within the meaning of applicable Canadian securities laws. Such statements include, but are not limited to: our plans to divest certain core and non-core assets described in the press release; our intention to retain adequate proceeds of asset sales to repay our outstanding convertible debt; our future business plans and strategy focusing on our Visudyne franchise and the clinical programs relating to Visudyne, our punctal plug drug delivery technology and our photodynamic therapy dermatology technology; and our expectations we will achieve certain milestones in these clinical studies in 2008. Forward-looking statements are predictions only which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed in such statements. Factors that could cause actual events or results to differ materially include, but are not limited to: the Company's ability to successfully complete the sale of one or more of the assets or operations at an acceptable price and the time period necessary to
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SOURCE QLT Inc.
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