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EXHIBIT 99.4
[PROTEIN DESIGN LABS, INC. LETTERHEAD]
For Immediate Release
Contact:
Robert L. Kirkman, M.D.
Vice President, Business Development
and Corporate Communications
510 574-1419
PROTEIN DESIGN LABS ANNOUNCES COMPLETION OF PUBLIC OFFERING
Fremont, CA, September 29, 2000 - Protein Design Labs, Inc. (PDL) (Nasdaq:
PDLI) announced today the completion of a public offering by the company of
3,000,000 shares of its common stock at a price of $118.4375 per share. Gross
proceeds from the offering were approximately $355.3 million. The offering was
co-led by Credit Suisse First Boston and CIBC World Markets and was co-managed
by SG Cowen. The underwriters have an option to purchase up to 450,000
additional shares to cover over-allotments, if any.
This announcement shall not constitute an offer to buy nor shall there be
any sale of these securities in any state in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any state. This offering may be made only by means of a
prospectus, which may be obtained from: Credit Suisse First Boston Corporation,
Prospectus Department, 11 Madison Avenue, New York, New York 10010, telephone:
(212) 325-2580.
Protein Design Labs is a leader in the development of humanized antibodies
to prevent or treat various disease conditions. PDL currently has antibodies
under development for autoimmune and inflammatory conditions, transplantation,
cancer and other conditions.
Protein Design Labs and the PDL logo are registered U.S. trademarks of Protein
Design Labs, Inc.
