OPTI Canada to Redeem First Lien Notes

OPTI Canada Inc. (TSX VENTURE:OPC) ("OPTI" or the "Company") announced today
that it will redeem on December 28, 2011 all of its outstanding first lien
senior secured notes (the "First Lien Notes") at a price equal to 102% of the
principal amount of the First Lien Notes plus accrued and unpaid interest to the
date of redemption, pursuant to the indentures governing the First Lien Notes. 


The First Lien Notes consist of U.S.$525,000,000 principal amount of 9% First
Lien Notes due 2012 and U.S.$300,000,000 principal amount of 9.75% First Lien
Notes due 2013.


FORWARD-LOOKING INFORMATION 

Certain statements contained herein are forward-looking statements, including,
but not limited to, statements relating to: the completion and the anticipated
timing of the redemption of the First Lien Notes. Readers are cautioned not to
place undue reliance on forward-looking information because it is possible that
expectations, predictions, forecasts, projections and other forms of
forward-looking information will not be achieved by OPTI. By its nature,
forward-looking information involves numerous assumptions, inherent risks and
uncertainties. Actual events or results may differ materially from those
projected in the forward-looking information. Although OPTI believes that the
expectations reflected in such forward-looking statements are reasonable, OPTI
can give no assurance that such expectations will prove to be correct.
Forward-looking statements are based on current expectations, estimates and
projections that involve a number of risks and uncertainties which could cause
actual results to differ materially from those anticipated by OPTI and described
in the forward-looking statements or information. The forward-looking statements
are based on a number of assumptions that may prove to be incorrect. In addition
to other assumptions identified herein. Other specific assumptions and key risks
and uncertainties are described elsewhere in this document and in OPTI's other
filings with Canadian securities authorities. Forward-looking information in
this news release is provided for the purpose of providing information about
management's current expectations regarding the future. Readers are cautioned
that reliance on such information may not be appropriate for other purposes,
such as making investment decisions.


Readers should be aware that the list of assumptions, risks and uncertainties
set forth herein are not exhaustive. Readers should refer to OPTI's current
Annual Information Form, filed on SEDAR and EDGAR and available at www.sedar.com
and http://edgar.sec.gov for a detailed discussion of these assumptions, risks
and uncertainties. The forward-looking statements or information contained in
this document are made as of the date hereof and OPTI undertakes no obligation
to update publicly or revise any forward-looking statements or information,
whether as a result of new information, future events or otherwise, unless so
required by applicable laws or regulatory policies. Additional information
relating to our Company can be found at www.sedar.com.