[QLT INC. LOGO]


    QLT Inc.        887 Great Northern Way               t 604.707.7000
                    Vancouver, BC Canada V5T 4T5         f 604.707.7001
                                                         www.qltinc.com


n e w s    r e l e a s e


                     QLT ANNOUNCES ELIGARD(R) SALES FOR 2004


FOR IMMEDIATE RELEASE                                           JANUARY 26, 2005

VANCOUVER, CANADA--QLT Inc. (NASDAQ:QLTI; TSX:QLT) today reported that its
marketing partner, Sanofi-aventis, announced North American Eligard(R) sales of
approximately 58 million euros for the year ended December 31, 2004.

Total worldwide sales for Eligard were approximately US$84 million; this figure
represents sales through Sanofi-aventis and our other marketing partners.

QLT will release its full financial results on Wednesday, February 23, 2005, at
7:30 a.m. Eastern Time (ET).

QLT Inc. is a global biopharmaceutical company specializing in developing
treatments for cancer, eye diseases and dermatological and urological
conditions. We have combined our expertise in the discovery, development,
commercialization and manufacture of innovative drug therapies with our unique
technology platforms to create highly successful products such as Visudyne(R)
and Eligard. For more information, visit our website at www.qltinc.com.

QLT Inc. will hold an investor conference call to discuss year-end results and
2005 guidance on Wednesday, February 23 at 8:30 a.m. ET (5:30 a.m. PT). The call
will be broadcast live via the Internet at www.qltinc.com. A replay of the call
will be available via the Internet and also via telephone at 1-800-395-0403,
access code 3471375.


                                      -30-

QLT Inc.:
Vancouver, Canada
Therese Hayes / Tamara Hicks
Telephone: 604-707-7000 or 1-800-663-5486
Fax: 604-707-7001

Visudyne is a registered trademark of Novartis AG.
Eligard is a registered trademark of Sanofi-aventis.



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QLT Inc. is listed on The Nasdaq Stock Market under the trading symbol "QLTI"
and on The Toronto Stock Exchange under the trading symbol "QLT."


The Eligard(R) sales figures in this press release are preliminary and unaudited
and are not a complete disclosure of our quarterly or annual financial results.
Certain statements in this press release constitute "forward-looking statements"
of QLT within the meaning of the Private Securities Litigation Reform Act of
1995, which involve known and unknown risks, uncertainties and other factors
that may cause our actual results to be materially different from any future
results, performance or achievements expressed or implied by such statements.
These statements are only predictions and actual events or results may differ
materially. Factors that could cause such actual events or results expressed or
implied by such forward-looking statements to differ materially from any future
results express or implied by such statements are described in detail in QLT's
Annual Information Form on Form 10-K, quarterly reports on Form 10-Q and other
filings with the U.S. Securities and Exchange Commission and Canadian securities
regulatory authorities. Forward-looking statements are based on our current
expectations and QLT does not assume any obligation to update such information
to reflect later events or developments, except as may be required by law.




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