QUESTCOR NOTIFIES SHAREHOLDERS OF INTENT TO REDEEM OUTSTANDING SHARES OF SERIES B CONVERTIBLE PREFERRED STOCK

On November 18, 2005, Questcor Pharmaceuticals, Inc., a specialty pharmaceutical company that develops and commercializes novel therapeutics for the treatment of neurological disorders, notified the holders of Questcor's Series B Convertible Preferred Stock of its intent to redeem on January 3, 2006 all outstanding shares of Series B Convertible Preferred Stock. Pursuant to the terms of the Series B Convertible Preferred Stock, January 3, 2006 is the first date on which Questcor could redeem the Series B Convertible Preferred Stock. The Series B preferred shareholders have the option to convert all or part of their Series B Convertible Preferred Stock into Questcor common stock prior to the January 3, 2006 redemption date.

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