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PDL BioPharma Announces Conversion Rate Adjustments for 2.00% Convertible Senior Notes Due February 15, 2012 and 2.875% Convertible Senior Notes Due February 15, 2015
Date:3/8/2011

red trademarks of PDL BioPharma, Inc.

Forward-looking Statements

The foregoing statements regarding PDL's intentions with respect to the quarterly dividend payment described above are forward-looking statements under the Private Securities Litigation Reform Act of 1995, and actual results could vary materially from the statements made. PDL's ability to pay the dividend described above is subject to various risks, many of which are outside its control, including prevailing conditions in the capital markets, the continued strength of its royalty assets and other risks and uncertainties as detailed from time to time in the reports filed by PDL with the Securities and Exchange Commission.


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