Nov 27, 2002
Guidant Comments on Cook-Boston Scientific Litigation

Court of Appeals Denies Stay of Injunction; Cook to Move Forward with Appeal

Indianapolis, Ind. - Guidant Corporation (NYSE and PCX: GDT), a world leader in the treatment of cardiac and vascular disease, today announced that the Court of Appeals for the Seventh Circuit has denied Guidant and Cook''s requests for stays of the permanent injunction entered by the district court in litigation between Cook Incorporated and Boston Scientific Corporation.

Guidant had requested a stay that would have permitted Guidant and Cook to use data gathered in the DELIVER clinical trial to seek FDA approval for the ACHIEVE paclitaxel-coated stent during the appeal process. (Under a November 5, 2002 ruling of the district court, Guidant, as sponsor of the DELIVER clinical trial, is permitted to fulfill its data reporting obligations by submitting the clinical data to the FDA.) Cook Incorporated had further requested a stay allowing Guidant and Cook to move forward during the appeal process under existing agreements between them to bring the ACHIEVE stent to market.

"We expect Cook to continue to aggressively move forward with its appeal of the district court's underlying summary judgment that formed the basis for the permanent injunction," said John M. Capek, Ph.D., president, Vascular Intervention, Guidant Corporation. Under today''s order, Cook alone will pursue briefing on the appeal. "Cook''s briefing of the appeal is expected to be complete in February. We will also continue to pursue the Guidant vs. Boston Scientific case where we will seek a ruling that the Guidant-Cook Group Incorporated merger would permit access to this market.

"We are committed to advancing this important lifesaving therapy and are also pursuing alternative pathways to bring drug eluting stent technology to market," Capek continued. "Cook has already begun discussions with the FDA to initiate a new clinical trial to collect a new set of data to support an approval of a paclitaxel eluting stent by September 2004. We also continue to make progress with our promising internal everolimus program. We look forward to the first human implant of our everolimus eluting stent in the first quarter of next year."

Guidant Corporation pioneers lifesaving technology, giving an opportunity for a 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.

This release includes forward-looking statements concerning the litigation and product timelines. The statements are based on assumptions about many important factors, including internal court processes, clinical results, regulatory timelines and approvals, and other factors listed 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.

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