Apr 23, 2001
Guidant Announces Stock Repurchase Program

Indianapolis, IN - Guidant Corporation (NYSE and PCX: GDT), a world leader in the medical technology industry, today announced that it intends to repurchase up to $200 million of its common shares on the open market or in privately negotiated transactions.

Last summer, Guidant's board supported the termination of the company's systematic share repurchase program, which had been in place since the company's founding to offset dilution due to its stock option programs. However, shares will be repurchased opportunistically, at the discretion of Guidant management, to accomplish the same goal.

"We feel the current market price of Guidant equity provides us an excellent opportunity to meet the requirements for shares to be issued under the company's stock plans," commented Keith Brauer, Guidant's chief financial officer. "The planned repurchase program can be facilitated while maintaining the company's financial flexibility to continue to grow our business and increase shareholder value."

The timing and amount of any share repurchases will depend upon market conditions.

A global leader in the medical technology industry, Guidant provides innovative, minimally invasive and cost-effective products and services for the treatment of cardiovascular and vascular disease.