Notice of Paladin Labs Inc.'s Fourth Quarter Results Conference Call

MONTREAL, CANADA--(Marketwire - February 19, 2009) - Paladin Labs Inc. (TSX: PLB), a leading Canadian specialty pharmaceutical company, will release its 2008 fourth quarter financial results on Thursday, February 26, 2009 prior to market opening. Following the release, Paladin will hold a conference call at 10:00 a.m. (EST) hosted by Jonathan Ross Goodman, President and CEO of Paladin Labs. Paladin cordially invites all interested parties to participate in this call.

CONFERENCE CALL DETAILS:

DATE:             Thursday, February 26, 2009

TIME:             10:00 a.m. EST

DIAL IN NUMBER:   1-800-732-0232 OR 416-644-3419

TAPED REPLAY:     1-877-289-8525 OR 416-640-1917
                  Code: 21295825
                  Available from Thursday, February 26, 2009 at noon
                  until Sunday, March 29, 2009 at midnight.

About Paladin Labs Inc.

Paladin Labs Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian and world markets. With this strategy, a focused national sales team and proven marketing expertise, Paladin has evolved into one of Canada's leading specialty pharmaceutical companies. Paladin's shares trade on the Toronto Stock Exchange under the symbol PLB. For more information about Paladin, please visit the Company's web site at www.paladinlabs.com.

This news release may contain forward-looking statements and predictions. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. The Company considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions that these assumptions regarding the future events, many of which are beyond the control of the Company and its subsidiaries may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations, are discussed in the annual report as well as in the Company's Annual Information Form for the year ended December 31, 2007. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether a result of new information, future events, or except as required by law. For additional information on risks and uncertainties relating to these forward-looking statements, investors should consult the Company's ongoing quarterly fillings, annual report and Annual Information Form and other fillings found on SEDAR at www.sedar.com.