Mr. Jason Aryeh reports

QLT ANNOUNCES SHAREHOLDER APPROVAL OF US$200 MILLION SPECIAL CASH DISTRIBUTION TO SHAREHOLDERS AND ELECTION RESULTS

At the annual general and special meeting held today, QLT Inc.'s shareholders approved a special cash distribution in the amount of $200-million (U.S.), by way of a reduction of the capital of the company's common shares. As a result, QLT's shareholders as of June 24, 2013, the record date for the distribution, will receive a special cash distribution payment of approximately $3.92 (U.S.) per share based upon the current number of issued and outstanding shares of the company. The final amount of the distribution payment per share will be determined based upon the number of issued and outstanding shares on the record date and will be payable on June 27, 2013. As previously announced, the company will be able to make the distribution payment to shareholders without Canadian withholding taxes of up to 25 per cent being payable, pursuant to an advance tax ruling received from Canadian tax authorities.

In accordance with the applicable rules of the Toronto Stock Exchange and the Nasdaq Stock Market rules, due-bill trading procedures will be applied in connection with the distribution payment. Pursuant to these procedures, the shares will trade on a due-bill basis in the period from June 20, 2013, to and including the payment date of June 27, 2013. Sellers of shares during the due-bill period will not be entitled to the distribution payment. Holders of shares, including purchasers of shares, on June 27, 2013, will be entitled to receive the distribution payment. The shares will commence trading on an ex distribution basis on June 28, 2013, as of which date purchases of shares will no longer have an attaching right to the distribution payment. The due bills will be redeemed once all trades with attached due bills entered during the due-bill period have settled, which will occur at the end of the business day on July 2, 2013.

The distribution payment to shareholders, together with the return of approximately $27-million pursuant to the company's normal course issuer bid completed earlier this year, will result in a total return of capital to QLT's shareholders in fewer than 12 months of an aggregate of approximately $227-million.

QLT is also pleased to announce that, on a vote by ballot, all director nominees, as set out in its information circular prepared for the meeting, were elected as directors at the meeting.

"We are grateful to see overwhelming shareholder support for all our resolutions and for the re-election of all our directors. This outcome is clearly a referendum on your board's unwavering effort to always act in the best interests of its constituents," said Jason M. Aryeh, chairman of the board. "Central to these efforts was the successful execution of a number of key strategic measures, including: the sale of Visudyne to Valeant Pharmaceuticals, the sale of QLT's punctal plug drug delivery system to Mati Therapeutics, the return of $200-million by way of an exceptionally tax-efficient capital reduction, the expeditious and dramatic streamlining of QLT's cost structure, and a now well-positioned, high-potential program in our synthetic Retinoid drug candidate, QLT091001. As always, your board of directors and QLT's dedicated employees are appreciative of the continued support of QLT's shareholders as we continue to work diligently to maximize shareholder value."

QLT also announced today the appointment of Dr. Sushanta Mallick, PhD, as vice-president, research and development. Dr. Mallick, who joined QLT in October, 2012, leads the clinical development team's efforts to advance the company's synthetic Retinoid program. Dr. Mallick brings almost 20 years of clinical and product development experience at Alcon Research Ltd. Over the course of his employment at Alcon, Dr. Mallick held various positions of increasing responsibility, specializing in the glaucoma, retina and dry-eye therapeutic areas. Dr. Mallick received his PhD in biochemistry from the University of North Texas and his MBA from the University of Texas at Dallas.

"We are proud to promote Dr. Mallick after witnessing Sushanta's enthusiastic and tireless dedication to the now scientifically and clinically prudent development of QLT091001," said chairman, Mr. Aryeh.

Detailed results of the vote for the election of directors are as set out in the attached table.

                                        
            DIRECTOR NOMINEE VOTING RESULTS  

Nominee                  Votes for    % Votes withheld    %   

Jason M. Aryeh          26,732,726 77.9      7,567,806 22.1
Vicente Anido Jr., PhD  26,834,318 78.2      7,466,214 21.8
Geoffrey F. Cox, PhD    26,834,721 78.2      7,466,811 21.8
John W. Kozarich, PhD   26,834,484 78.2      7,466,048 21.8
Jeffrey A. Meckler      26,834,787 78.2      7,465,745 21.8
Stephen L. Sabba, MD    26,833,398 78.2      7,467,134 21.8
John C. Thomas Jr.      26,830,421 78.2      7,470,111 21.8

Shareholders at the meeting also approved the amended and restated QLT 2000 incentive stock plan.

Final voting results on all matters voted on the meeting will be filed on SEDAR and EDGAR.

We seek Safe Harbor.