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Valeant Declares Special Dividend and Plans to Create a Special Dividend Reinvestment Plan
Date:11/4/2010

3 (the "Registration Statement") (including prospectus) for the offering of Common Shares to which this communication relates shortly after the Record Date.  Non-registered beneficial shareholders are advised to contact their broker, investment dealer or other financial intermediary for details on how to participate in the Plan.  To participate in the Plan, eligible shareholders must return their enrollment forms to the Agent in accordance with the Plan by 5:00 p.m. (Toronto time) on December 8, 2010.

This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy Common Shares.  Valeant intends to file a Registration Statement (including a prospectus) with the Securities and Exchange Commission (the "SEC") for the offering of Common Shares to which this communication relates.  Before investing, eligible shareholders should read the prospectus in that Registration Statement and other documents Valeant has filed with the SEC and with the Canadian Securities Administrators (the "CSA") for more complete information about Valeant and the offering.  These documents may be obtained, free of charge, at the website maintained by the SEC at www.sec.gov and on SEDAR at www.sedar.com.  These documents may also be obtained, free of charge, from Valeant's website (www.valeant.com) under the tab "Investor Relations" and then under the heading "SEC Filings," or by directing a request to Valeant, 7150 Mississauga Road, Mississauga, Ontario, Canada, L5N 8M5, Attention: Investor Relations.  Additionally, these documents will be available from the Agent after the Record Date.  The Agent can be reached at 1-800-387-0825.  This press release is being issued pursuant to and in accordance with Rule 135 under the Securities Act of 1933, as amended.

Important Income-Tax Information f
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SOURCE Valeant Pharmaceuticals International, Inc.
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