Boston Scientific Announces Results for Fourth Quarter and Year Ended December 31, 2004
and New York, NY (February 1, 2005) -- Boston Scientific Corporation (NYSE: BSX) today announced financial results for the fourth quarter and for the year ended December 31, 2004 at a meeting with analysts and investors in New York.

HIGHLIGHTS:

Q4:
- Net sales of $1.6 billion, an increase of 70 percent
- Worldwide coronary stent sales of $730 million, an increase of 374 percent
- Net income, excluding net special charges, of $419 million, an increase of 197 percent
- Earnings per share, excluding net special charges, of $0.49 per share

2004:
- Net sales of $5.624 billion, an increase of 62 percent
- Worldwide coronary stent sales of $2.351 billion, an increase of 345 percent
- Net income, excluding net special charges, of $1.394 billion, an increase of 168 percent
- Earnings per share, excluding net special charges, of $1.63 per share

FOURTH QUARTER 2004

Net sales for the fourth quarter of 2004 were $1.6 billion as compared to $939 million for the fourth quarter of 2003, an increase of 70 percent. Excluding the favorable impact of $35 million of foreign currency fluctuations, net sales increased 67 percent.

Net income for the quarter, excluding net special charges, increased 197 percent to $419 million, or $0.49 per share, as compared to $141 million, excluding net special charges, or $0.17 per share in the fourth quarter of 2003. Reported net income for the quarter, including net special charges of $122 million, was $297 million, or $0.35 per share, as compared to reported net income of $137 million, or $0.16 per share, in the fourth quarter of 2003. The net special charges for the fourth quarter of 2004 consist primarily of a $60 million non-cash charge resulting from certain stock option modifications and a $61 million charge related to taxes on the approximately $1 billion that the Company plans to repatriate in 2005 under the American Jobs Creation Act of 2004.

YEAR-END 2004

Net sales for the year ended December 31, 2004 were $5.624 billion as compared to $3.476 billion in 2003, an increase of 62 percent. Excluding the favorable impact of $155 million of foreign currency fluctuations, net sales increased 57 percent.

Net income for the year, excluding net special charges, increased 168 percent to $1.394 billion, or $1.63 per share, as compared to $521 million, excluding net special charges, or $0.62 per share for the year ended December 31, 2003. Reported net income for the year, including net special charges of $332 million, was $1.062 billion, or $1.24 per share, as compared to reported net income of $472 million, or $0.56 per share, for the prior year.

"I would like to congratulate the entire Boston Scientific team for a year of historic achievement," said Jim Tobin, President and Chief Executive Officer of Boston Scientific. "Our performance in 2004, fueled by the success of our TAXUS® Express2™ stent system, was nothing short of remarkable and speaks to a truly global effort."

Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: www.bostonscientific.com.

The Company discloses non-GAAP or pro forma measures that exclude certain charges. Non-GAAP measures may exclude such items as charges related to purchased in-process research and development and certain litigation. Management uses these measures to establish operational goals, and believes that non-GAAP measures may assist investors in analyzing the underlying trends in the Company's business over time. Investors should consider these non-GAAP measures in addition to, not as a substitute for, or as superior to, financial reporting measures prepared in accordance with GAAP.

This press release contains forward-looking statements. The Company wishes to caution the reader of this press release that actual results may differ from those discussed in the forward-looking statements and may be adversely affected by, among other things, risks associated with new product development and introduction, clinical trials, regulatory approvals, competitive offerings, intellectual property, litigation, the Company

Top