Paladin Energy Appoints New Chief Financial Officer

Paladin Energy Ltd ("Paladin" or "the Company") (TSX: PDN)(ASX: PDN) wishes to announce that effective 18 July 2008, Ross Glossop will assume the role of Chief Financial Officer (CFO) of the Paladin group of companies and will replace Ron Chamberlain who has resigned under amicable circumstances to pursue other interests.

Ross has over 25 years of experience in the resources industry, where he has held positions in internal audit, treasury, and finance with increasing managerial responsibilities. Prior to his most recent position as CFO of Oceana Gold Corporation he was Regional CFO for Barrick Gold Corporation's Australia/Africa Business Unit and was previously Executive General Manager of Administration with Homestake Gold Australia Limited.

Ross holds Bachelor of Commerce, Master of Business Administration and Master of Accounting degrees. He has extensive experience in corporate governance, including IFRS and Sarbanes Oxley compliance requirements.

Ross brings a broad finance, accounting and administrative management experience to our executive management team. His diverse experience base and proven performance track record further strengthens this key area of the Company's activities. With Paladin's growth strategy and expanding off shore project base, Ross will add valuable input and we welcome him onto the executive team.

The Board would like to sincerely thank Ron for his enormous contribution to Paladin during a period of exceptional growth and wish him well in his future endeavours.

A.C.N. 061 681 098

Contacts: Paladin Energy Ltd John Borshoff Managing Director +61-8-9381-4366 or Mobile: +61-419-912-571 +61 8-9381 4978 (FAX) Paladin Energy Ltd Greg Taylor Investor Relations Contact (905) 337-7673 or Mobile (416) 605-5120 (Toronto) Email: greg.taylor@paladinenergy.com.au Website: www.paladinenergy.com.au