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Their latest big name acquisition is Munster lock Mick O'Driscoll. He will join the club from next season.
The news comes on the back of the news that England wing Dan Luger, New Zealander Scott Robertson, and Australian Daniel Herbert have all been offered terms with Perpignan.
O'Driscoll has had limited opportunities in the first team following the emergence of O'Connell and O'Callaghan as successors in the Munster side to veteran locks Mick Galwey and Australian John Langford.
But the Ireland A international did enough as O'Connell's stand-in during the Heineken Cup pool stages to impress the French Catalan club, who are also reported to have offered terms to Dan Luger and Australian star for next season.
Munster coach Alan Gaffney said: "Obviously I'm very disappointed to be losing a squad member of Mick O'Driscoll's calibre.
"He's a player who has come up through the Munster ranks, schools and under-21 and was very much a part of our plans for the future.
"However I respect his decision and wish him the very best of luck with his new club."
