Montreal, PQ- February 3, 2000 – Paladin Labs Inc. (“Paladin”) (TSE, CDNX: PLB) today announced that its common shares have commenced trading on the Toronto Stock Exchange. CIBC World Markets Inc. acted as Paladin’s sponsor with respect to this TSE listing.

Lennie Ryer, Chief Financial Officer of Paladin, stated “Listing on the Toronto Stock Exchange represents a key milestone towards increasing Paladin’s exposure to both institutional and retail investors. In a short period of time, Paladin has become one of Canada’s most profitable publicly-traded pharmaceutical companies and we are proud be listed on Canada’s senior stock exchange.”

About Paladin Labs Inc.

Paladin Labs, headquartered in Montreal, Quebec is a Canadian developer, marketer and distributor of innovative pharmaceuticals, currently offering products in urology, dermatology, rheumatology and other specialty markets. For more information about Paladin, please visit the Paladin Web Site at www.paladin-labs.com or send e-mail to info@paladin-labs.com.

Paladin Labs Inc. is a public company whose shares trade on the Toronto Stock Exchange and the Canadian Venture Exchange under the symbol PLB.

PALADIN LABS INC.

          The Canadian Venture Exchange & the Toronto Stock Exchange have not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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.

For more information:

Lennie Ryer, C.A., CFE Chief Financial Officer Paladin Labs Inc. Tel: 514-340-5067 e-mail: lryer@paladin-labs.com Web Site: www.paladin-labs.com

Jason Hogan Vice President & Director The Equicom Group Tel: 416-815-0700 ext.222 e-mail:jhogan@equicomgroup.com Web Site: www.equicomgroup.com