Paladin Energy Ltd-Redemption of Outstanding Convertible Bonds Due 2011

PERTH, WESTERN AUSTRALIA--(Marketwire - Jan. 18, 2011) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Paladin Energy Ltd. (TSX:PDN)(ASX:PDN) ("Paladin" or the "Company") notes that, further to its announcement dated December 16, 2010, Paladin is pleased to announce that it has now redeemed all of its outstanding 4.50% convertible bonds due 2011, and such bonds have been cancelled and will be de-listed from the Singapore Securities Exchange on 19 January 2011.

ACN 061 681 098