PDL BioPharma, Inc. to Host Fourth-Quarter and Full-Year 2008 Financial Results Conference Call on March 2, 2009

INCLINE VILLAGE, NV--(Marketwire - February 20, 2009) - PDL BioPharma, Inc. (PDL) (NASDAQ: PDLI) today announced that it will release its financial results for the fourth quarter and full year 2008 following the close of the U.S. financial markets on Monday, March 2, 2009. PDL will hold a conference call to discuss these financial results and provide an update on company activities at 1:30 p.m. Pacific time, 4:30 p.m. Eastern time on March 2, 2009.

To participate in this teleconference, please dial 888-727-7622 fifteen minutes before the conference is scheduled to begin. Callers outside of the U.S. should dial 913-312-0392. The participant passcode is 2182491. The call will also be Webcast live at www.pdl.com. A replay of the call will be available for two weeks on the company’s Web site, or until March 16 by dialing 888-203-1112. Callers outside of the U.S. should dial 719-457-0820. The replay passcode is 2182491.

About PDL BioPharma

PDL BioPharma, Inc. pioneered the humanization of monoclonal antibodies and, by doing so, enabled the discovery of a new generation of targeted treatments for cancer and autoimmune diseases. This press release and further information about PDL BioPharma, Inc. can be found at: www.pdl.com.

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