PDL BioPharma Announces 2013 Regular Quarterly Dividends

           PDL BioPharma Announces 2013 Regular Quarterly Dividends

-- Dividend Amount of $0.15 per Share per Quarter --

PR Newswire

INCLINE VILLAGE, Nev., Jan. 30, 2013

INCLINE VILLAGE, Nev., Jan. 30, 2013 /PRNewswire/ --PDL BioPharma, Inc. (PDL)
(NASDAQ: PDLI) today announced that its board of directors has declared that
the regular, quarterly dividends to be paid to its stockholders in 2013 will
be $0.15 per share of common stock. The $0.15 dividends will each be paid on
March 12, June 12, September 12 and December 12 of 2013 to all stockholders
who own shares of PDL on March 5, June 5, September 5 and December 5 of 2013,
the record dates for each of the dividend payments, respectively.

(Logo: http://photos.prnewswire.com/prnh/20110822/SF55808LOGO)

"We are pleased to announce that we will pay regular quarterly dividends for
2013 to our shareholders totaling $0.60 per share for the year," said John P.
McLaughlin, president and chief executive officer of PDL BioPharma. "This will
be the fifth consecutive year that PDL has paid either a special or regular
dividend and the third consecutive year that it will pay a regular dividend."

Stockholders desiring to purchase shares with rights to the dividend must
ensure that their trades are executed prior to the "ex-dividend" date and
settle prior to the record date. NASDAQ will establish an ex-dividend date
that is generally two business days prior to the record date. Investors should
consult with their brokers or financial advisors regarding their specific

About PDL BioPharma
PDL pioneered the humanization of monoclonal antibodies and, by doing so,
enabled the discovery of a new generation of targeted treatments for cancer
and immunologic diseases. Today, PDL is focused on intellectual property asset
management, investing in new revenue generating assets and maximizing value
for its shareholders. For more information, please visit www.pdl.com.

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

Forward-looking Statements

As all dividend payments are subject to compliance with legal requirements,
dividend announcements constitute "forward-looking statements" within the
meaning of Section27A of the Securities Act of 1933, as amended, and
Section21E of the Securities Exchange Act of 1934, as amended, and could be
withdrawn prior to payment at the discretion of the Company's board of
directors. Important factors that could impair the value of the Company's
royalty and revenue generating assets and limit the Company's ability to pay
dividends are disclosed in the risk factors contained in the Company's 2011
Annual Report on Form10-K filed with the Securities and Exchange Commission
on February 23, 2012, as updated by subsequent periodic reports. All
forward-looking statements are expressly qualified in their entirety by such
factors. We do not undertake any duty to update any forward-looking statement
except as required by law.

SOURCE PDL BioPharma, Inc.

Website: http://www.pdl.com
Contact: John P. McLaughlin, PDL BioPharma, Inc., +1-775-832-8500,
John.McLaughlin@pdl.com; Jennifer Williams, Cook Williams Communications,
Inc., +1-360-668-3701, jennifer@cwcomm.org
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