FOR IMMEDIATE RELEASE

PALADIN APPOINTS VICE-PRESIDENT, REGULATORY AFFAIRS, DRUG SAFETY AND MEDICAL SERVICES

Montreal, Canada, March 29, 2005 - Paladin Labs Inc. (TSX: PLB), a leading Canadian specialty pharmaceutical company, today announced the appointment of Dr. Patrice Larose as Vice-President, Regulatory Affairs, Drug Safety and Medical Services. Dr. Larose will join Paladin on April 4, 2005.

“Patrice has a wealth of experience in Canadian regulatory affairs. He will be a valuable addition to our management team as we continue to pursue opportunities to acquire the Canadian rights to promising late-stage development products and as we expand our capabilities to internally develop late-stage, low risk products,” said Jonathan Ross Goodman, President and CEO of Paladin.

Before joining Paladin, Dr. Larose was Vice-President, Regulatory Affairs, Drug Safety and Medical Services at Schering Canada Inc. Dr. Larose obtained a Ph.D in Pharmaceutical Sciences from the University of Montreal in 1987 and is a licensed pharmacist.

About Paladin Labs Inc.
Paladin Labs Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian market. With this strategy, a focused national sales team and proven marketing expertise, Paladin has evolved into one of Canada’s leading specialty pharmaceutical companies. Paladin’s shares trade on the Toronto Stock Exchange under the symbol PLB. For more information about Paladin, please visit the Company’s web site at www.paladinlabs.com.

This news release may contain forward-looking statements or predictions. These statements represent our judgement as of this date and are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed in such forward-looking statements. Potential risks and uncertainties include, without limitation, those associated with product development, clinical trials, future revenues and profitability, and obtaining marketing approval and other factors that are discussed in the Management Discussion and Analysis published in the Company's annual report.

For more information, please contact:

Samira Sakhia Chief Financial Officer Paladin Labs Inc. Tel: (514) 340-5067 email: info@paladin-labs.com

Bruce Wigle Investor Relations The Equicom Group Inc. Tel: (416) 815-0700 ext. 228 email: bwigle@equicomgroup.com