29 per share compared to a netprofit of 26

To find out more about Angiotech (NASDAQ: ANPI, TSX: ANP),please visit our website at Pharmaceuticals, Inc.DeDe Sheel, Investor Relations and Corporate Communications, AngiotechPharmaceuticals, Inc., (415) 293-4412, . OPY on the NYSENEW YORK and TORONTO, Jan 29 /PRNewswire-FirstCall/ -Expressed in thousands of U.S. dollars, except Three Months endedYear ended share and per shareDecember 31,December 31, amounts2008200720082007-(unaudited)REVENUE $209,767$258,358$920,070$914,397EXPENSES$217,496$214,053$956,113$787,003PROFIT (LOSS) BEFORE TAXES $(7,729)$44,305$(36,043) $127,394NET PROFIT (LOSS)$(3,824)$26,537$(20,770)$75,367PROFIT (LOSS) PER SHARE:- BASIC $(0.29)$2.00$(1.57)$5.70- DILUTED $(0.29)$1.94$(1.57)$5.57BASIC WEIGHTED AVERAGE NUMBER OF CLASS A NON-VOTING AND CLASS B SHARES OUTSTANDING 13,022,15513,298,33613,199,58013,223,442BOOK VALUE PER SHARE$32.75$33.22TOTAL CLASS A NON-VOTING AND CLASS B SHARES OUTSTANDING12,999,14513,366,276Oppenheimer Holdings Inc. reported a net loss for the three months endedDecember 31, 2008 of $3.8 million or $(0.29) per share compared to a netprofit of $26.5 million or $2.00 per share in the same period of 2007.

Revenuefor the three months ended December 31, 2008 was $209.8 million, a decrease of19 compared to revenue of $258.4 million in the same period of 2007. Theturmoil in the financial markets during the fourth quarter of 2008substantially impacted all of the Company's businesses resulting in reducedrevenues. The Company incurred increased expenses associated with theacquisition of a major part of CIBC World Markets' U.S Capital MarketsBusinesses in January 2008. Performance fees associated with the Company'smanagement of alternative investments did not make a significant contributionto the Company's results in fiscal 2008.

Revenue for the year ended December 31, 2008 was $920.1million compared to $914.4 million for the same period in 2007, an increase of1.As previously reported, the Company's results were impacted throughout theyear by its acquisition on January 14, 2008 of a major part of CIBC WorldMarkets' U.S Capital Markets Businesses. The acquired businesses includingoperations in the United Kingdom, Hong Kong and Israel were combined with theCompany's existing Investment Banking, Corporate Syndicate, InstitutionalSales and Trading and Equities Research divisions to form the OppenheimerInvestment Banking Division (OIB Division). The Company did not foresee in2007 the extremely challenging environment that would develop during 2008 whenit determined to expand its existing capital markets business. Agreements madefor compensation to former employees of CIBC World Markets as well as supportpayments made to CIBC during the transition of the acquired businesses to theCompany's platform substantially and negatively impacted the Company'sfinancial results throughout the 2008 year.Fiscal 2008 was the most difficult economic environment in over 50 years. Itbegan with a period of substantially increasing commodity prices and aweakening U.S. Federal Deposit Insurance Corporation("FDIC") through their support of commercial and investment banks as well asFannie Mae and Freddie Mac and the prompt reduction of interest rates by theFederal Reserve to the lowest levels in history failed to staunch the lack ofconfidence brought on by illiquid markets and a falling economy Furtherintervention in the credit markets both in the U.S.