QLT Appoints Goldman, Sachs & Co. as financial advisor in review of strategic options to enhance shareholder value

VANCOUVER, Dec. 11 /PRNewswire-FirstCall/ - QLT Inc. (NASDAQ: QLTI; TSX: QLT) today announced that the Board of Directors has engaged Goldman, Sachs & Co., a leading global investment bank, as its financial advisor to assist the Company in identifying, evaluating and pursuing alternative strategies to maximize shareholder value.

"We have chosen Goldman Sachs for this assignment because of its experience in strategic transactions and its in-depth knowledge of the life sciences market," said Boyd Clarke, QLT's Chairman.

As previously indicated, the Special Committee of the Board, with the advice of Goldman Sachs, will evaluate all opportunities, including transactions involving the sale of all or part of the assets of the Company.

During the evaluation of specific strategic alternatives QLT does not expect to make comments on its process or progress. In addition, no inference should be drawn if QLT does not respond to individual questions, rumors or press reports concerning the business or activities of the Company.

About QLT

QLT Inc. is a global biopharmaceutical company dedicated to the discovery, development and commercialization of innovative therapies. Our research and development efforts are focused on pharmaceutical products in the fields of ophthalmology and dermatology. In addition, we utilize three unique technology platforms, photodynamic therapy, Atrigel(R) and punctal plugs with drugs, to create products such as Visudyne(R) and Eligard(R) and future product opportunities. For more information, visit our web site at www.qltinc.com.

CONTACT: QLT Inc.: Vancouver, Canada, Therese Hayes, Telephone: (604) 707-7000 or 1-800-663-5486, Fax: (604) 707-7001

SOURCE QLT Inc.

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