PDL BioPharma, Inc. Announces Participation At Upcoming Lazard Investor Conference On November 28

FREMONT, Calif., Nov. 24 /PRNewswire-FirstCall/ -- PDL BioPharma, Inc. (PDL) today announced that Mark McDade, Chief Executive Officer, will participate in the upcoming Lazard Capital Markets Third Annual Life Sciences Conference in New York on Tuesday, November 28, 2006, at 8:30 a.m. Eastern time.

A live webcast of the conference call will be available through the PDL website: http://www.pdl.com. Please connect to this website at least 15 minutes prior to the live webcast to allow time for any software download that may be needed to hear the webcast. A replay will be available at http://www.pdl.com starting approximately one hour after completion of the webcast.

About PDL BioPharma

PDL BioPharma, Inc. is a biopharmaceutical company focused on discovering, developing and commercializing innovative therapies for severe or life- threatening illnesses. The company currently markets and sells a portfolio of leading products in the acute-care hospital setting in the United States and Canada and generates royalties through licensing agreements with top-tier biotechnology and pharmaceutical companies based on its pioneering antibody humanization technology. Currently, PDL’s diverse product pipeline includes investigational compounds in Phase 2 or Phase 3 clinical development for inflammation and autoimmune diseases, cardiovascular disorders and cancer. The company’s research platform is focused on the discovery and development of antibodies for the treatment of cancer and autoimmune diseases. For more information, please see PDL’s website at http://www.pdl.com.

NOTE: PDL BioPharma and the PDL BioPharma logo are considered trademarks of PDL BioPharma, Inc.

PDL BioPharma, Inc.

CONTACT: Ami Knoefler, Corporate and Investor Relations of PDL BioPharma,Inc., +1-510- 284-8851, ami.knoefler@pdl.com

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