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Paladin Energy: Exercise of Optional Redemption Right in Relation to Outstanding Convertible Bonds Due 2011

PERTH, WESTERN AUSTRALIA--(Marketwire - Dec. 17, 2010) - Paladin Energy Ltd (Paladin) (TSX:PDN - News; ASX:PDN - News) wishes to note the exercise of its optional redemption right regarding its outstanding 4.50% convertible bonds due 2011 (ISIN XS0277770151).For further information, please refer to the Company's website (www.paladinenergy.com.au) or to the announcement made to the Singapore Exchange Securities Trading Limited.A.C.N. 061 681 098