PDL BioPharma, Inc. Announces August 3 Webcast Of Second Quarter 2006 Financial Results Conference Call

FREMONT, Calif., July 25 /PRNewswire-FirstCall/ -- PDL BioPharma, Inc. (PDL) today announced that it will release its financial results for the second quarter 2006 following the close of the U.S. financial markets on Thursday, August 3, 2006. PDL will hold a conference call to discuss these financial results, its commercial and clinical activities and its outlook at 4:30 p.m. Eastern time on August 3, 2006. Mark McDade, Chief Executive Officer, Andrew Guggenhime, Sr. Vice President and Chief Financial Officer, and Steven Benner, M.D., Sr. Vice President and Chief Medical Officer, will participate in the call.

A live webcast of the call will be available through the PDL BioPharma website: 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. Financial and statistical information to be discussed in the call will be available on the PDL website immediately prior to the commencement of the call. A replay will be available at www.pdl.com starting approximately one hour after completion of the webcast.

An audio replay will also be available by telephone from approximately 6:30 p.m. Eastern time on August 3, 2006 through 6:30 p.m. Eastern time on September 3, 2006. To access the replay, dial 888-203-1112 from inside the United States and 719-457-0820 from outside the United States; enter conference ID number 2728524.

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 late-stage product pipeline includes six investigational compounds in Phase 2 or Phase 3 clinical development for hepatorenal syndrome, inflammation and autoimmune diseases, cardiovascular disorders and cancer. For more information, please see PDL’s website at 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, +1-510-284-8851,or ami.knoefler@pdl.com, or Jean Suzuki, Product Communications,+1-510-574-1550, or jean.suzuki@pdl.com, both of PDL BioPharma, Inc.

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