PDL BioPharma Reschedules Third Quarter 2009 Financial Results Conference Call for 8:30 a.m. ET on October 28, 2009

INCLINE VILLAGE, Nev., Oct. 27 /PRNewswire-FirstCall/ -- PDL BioPharma, Inc. (PDL) today announced that the company will hold its conference call and webcast at 8:30 a.m. Eastern Time on Wednesday, October 28 to discuss its financial results for the third quarter of 2009 and provide a business update. The call and webcast will follow the release of the third quarter ended September 30, 2009 financial results before market opens.

Conference Call Details

To access the live conference call via phone, please dial [phone] from the United States and Canada or [phone] internationally. The conference ID is 28992227. Please dial in approximately ten minutes prior to the start of the call. A telephone replay will be available beginning approximately one hour after the call through November 3, 2009 and may be accessed by dialing [phone] from the United States and Canada or [phone] internationally. The replay passcode is 78436903.

A brief explanatory presentation, which will be discussed during the call, can be downloaded beginning at 8:15 a.m. Eastern Time on Wednesday, October 28 at: http://66.215.142.25/Investor Presentation.pdf.

To access the live and subsequently archived webcast of the conference call, go to the company's website at http://www.pdl.com/ and click "Investors." Please connect to the website at least 15 minutes prior to the call to allow for any software download that may be necessary.

About PDL BioPharma, Inc.

PDL BioPharma pioneered the humanization of monoclonal antibodies and, by doing so, enabled the discovery of a new generation of targeted treatments for cancer and immunologic diseases. PDL is focused on maximizing the value of its antibody humanization patents and related assets. The company receives royalties on sales of a number of humanized antibody products marketed today and also may receive royalty payments on additional humanized antibody products launched before patent expiry in late 2014. For more information, please visit http://www.pdl.com/.

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

PDL BioPharma, Inc.

CONTACT: Cris Larson of PDL BioPharma, Inc., [phone],
[e-mail]; or Danielle Bertrand of WeissComm Partners,
[phone], [e-mail], for PDL BioPharma, Inc.

Web Site: http://www.pdl.com/