Jan 7, 2003
Guidant Pre-Announces 2002 Fourth Quarter Revenues

Indianapolis, Ind. - Guidant Corporation (NYSE and PCX: GDT), a world leader in the treatment of cardiac and vascular disease, today announced preliminary fourth quarter revenues of approximately $895 million, reflecting sales growth of 25 percent versus the fourth quarter of 2001. Full-year 2002 revenues will be approximately $3.24 billion, up 20 percent versus 2001.

In commenting on the quarter's performance, Ronald W. Dollens, president and chief executive officer, Guidant Corporation stated, "This exceptional performance is a result of strong year-over-year revenue growth across all major business units and geographies. In particular, our Cardiac Rhythm Management business has experienced significant growth in the implantable cardioverter defibrillator (ICD) market, which continues to be supported by the wide acceptance of the results from the MADIT II and COMPANION trials and sales of our heart failure therapy systems. Fourth quarter U.S. ICD sales of approximately $250 million were up an impressive 68 percent versus the previous year.

"Looking forward, we believe that Guidant''s 2003 revenue will be essentially flat versus 2002 and we expect as adjusted 2003 earnings per share in the previously announced range of $1.85 - $2.00," continued Dollens.

Guidant plans to announce fourth quarter and full-year 2002 results during its earnings call scheduled for January 29.
Webcast

As previously announced, Guidant will participate in the JPMorgan Hambrecht and Quist (H&Q) 21st Annual Healthcare Conference, , in San Francisco, Calif.

Ronald W. Dollens, president and CEO, Guidant Corporation, will provide a presentation on Guidant''s business at 6:00 p.m. Eastern Time (3:00 p.m. Pacific Standard Time).

The live webcast of Guidant''s presentation will be accessible through the company''s website at http://www.guidant.com/webcast/ or through the JPMorgan H&Q website at http://www.mapdigital.com/jpmorgan/healthcare03/directlinks/go.php?p=guidant_corp. The webcast will be archived on both websites for future on-demand replay.

Guidant Corporation pioneers lifesaving technology, giving an opportunity for better life today to millions of cardiac and vascular patients worldwide. The company, driven by a strong entrepreneurial culture of more than 10,000 employees, develops, manufactures and markets a broad array of products and services that enable less invasive care for some of life''s most threatening medical conditions. For more information visit www.guidant.com.

NOTE TO MEDIA: For more information about Guidant, including its products and services, please visit the company''s newsroom at www.guidant.com/newsroom.

This release includes forward-looking statements concerning anticipated financial results. The statements are based on assumptions about many important factors, including trends affecting ICD and coronary stent sales (including the introduction of drug-eluting stents); other clinical, regulatory, competitive, and market developments; reporting of final, audited results; and other factors identified on Exhibit 99.1 to the company''s most recent 10-Q. Actual results may differ materially. The company does not undertake to update its forward-looking statements.

System requirements for the webcast include Internet Explorer 5.0 (or higher) or Netscape Navigator 4.0 (or higher).Users also should have the most recent version of Windows Media Player, which can be downloaded for free at http://www.microsoft.com/windows/windowsmedia/en/download/. Users may experience varying levels of performance based on their connection speed, system capabilities and presence of a corporate firewall. To ensure a connection, users should go to the program five to 15 minutes before its start.