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

    VANCOUVER, Dec. 11 /CNW/ - 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

    Atrigel is a registered trademark of QLT USA, Inc.
    Visudyne is a registered trademark of Novartis AG.
    Eligard is a registered trademark of Sanofi-aventis.

    QLT Inc. is listed on the NASDAQ Stock Market under the trading symbol
    "QLTI" and on The Toronto Stock Exchange under the trading symbol "QLT.

For further information:

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

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