PDL intends to use a sizable portion of the net offering proceeds from the
securitization transaction to pay a special cash dividend to stockholders. The
total amount of the special dividend, together with the record and payment
dates, will be decided by the Company's Board of Directors at its upcoming
meeting on November 11, 2009 and will be announced the following day. The
amount of the special dividend on a per share basis will be announced on the
record date. PDL expects to pay the special dividend in 2009.