Other Ethics Disclosures

The Finance & Audit and the Corporate Governance/Nominating Committees of the Board of Directors of Valeant Pharmaceuticals International (the "Company") has granted a waiver of the Company's conflict of interest policy under the Company's Code of Business Conduct and Ethics and the Company's Code of Ethics for the Chief Executive Officer and Senior Financial Executives to permit the hiring of a senior facilities and project manager who is a relative of J. Michael Pearson, Chairman and Chief Executive Officer of the Company. The waiver was granted effective as of August 29, 2008, which was the date the senior manager accepted his offer of employment.

Posted on 09/04/2008