Aradigm Corporation Applies To Transfer Listing To Nasdaq Capital Market

Aradigm Corporation (NASDAQ: ARDM) announced today its intent to move trading of its common stock from the Nasdaq National Market to the Nasdaq Capital Market, previously known as the Nasdaq Small Cap Market, pending a review and approval of its application by the Nasdaq Listing Qualifications Panel. This transfer will likely be effective during the first week in May 2006 with the stock continuing to trade under the present symbol "ARDM."