Return of
Per Share Data: Distribution Dividend Basis
-------------- -------------- --------------
Cash Distribution $ 4.25 $ 1.40 $ 2.85
Stock Distribution * 2.60 0.86 1.74
-------------- -------------- --------------
Total $ 6.85 $ 2.26 $ 4.59
============== ============== ==============
* Based on closing stock price of Facet shares on December 19, 2008 of
$13.00 per share for every five shares of PDL or $2.60 per PDL share.
Forward-looking Statements
This press release contains forward-looking statements, including regarding
PDL's expectations with respect to its 2009 royalty revenues.
Each of these forward-looking statements involves risks and uncertainties.
Actual results may differ materially from those, express or implied, in
these forward-looking statements. Factors that may cause differences
between current expectations and actual results include, but are not
limited to, the following:
-- The expected rate of growth in royalty-bearing product sales by PDL's
existing licensees;
-- The relative mix of royalty-bearing products manufactured and sold
outside the U.S. versus manufactured or sold in the U.S.;
-- The ability to receive regulatory approvals to market and launch new
royalty-bearing products and whether such products, if launched, will be
commercially successful;
-- Changes in any of the other assumptions on which PDL's projected
royalty revenues are based;
-- The outcome of pending litigation or disputes; and
-- The failure of licensees to comply with existing license agreements,
including any failure to pay royalties due.
Other factors that may cause PDL's actual results to differ materially from
those expressed or implied in the forward-looking statements in this press
release are discussed in PDL's filings with the SEC, including the "Risk
Factors" sections of its annual and quarterly reports filed with the SEC.
Copies of PDL's filings with the SEC may be obtained at the "Investors"
section of PDL's website at www.pdl.com. PDL expressly disclaims any
obligation or undertaking to release publicly any updates or revisions to
any forward-looking statements contained herein to reflect any change in
PDL's expectations with regard thereto or any change in events, conditions
or circumstances on which any such statements are based for any reason,
except as required by law, even as new information becomes available or
other events occur in the future. All forward-looking statements in this
press release are qualified in their entirety by this cautionary statement.
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.
Contact Information: Contact: David Carey Lazar Partners 212-867-1768