Nov 22, 2002
Guidant Invests in Developer of Minimally Invasive Devices for Treatment of Lung Disease

Spiration''s Solutions Represent Potential New Treatments for Emphysema and Lung Cancer

Indianapolis, Ind. - Guidant Corporation (NYSE and PCX: GDT), a world leader in the treatment of cardiac and vascular disease, today announced it has made an equity investment in Redmond, Washington-based Spiration, Inc., a developer and manufacturer of medical devices for the treatment of lung disease. Lung disease, including chronic obstructive pulmonary disease and lung cancer, claim nearly 275,000 lives in the United States each year. The terms of the deal were not disclosed.

"Guidant is committed to supporting diverse solutions to meet the needs of a broad range of patients through its Compass venture capital and business development group," said Keith Brauer, vice president, finance, and chief financial officer, Guidant Corporation. "Spiration''s approach to treating lung disease using minimally invasive therapies is closely aligned with Guidant''s mission to deliver less invasive care for threatening medical conditions. We look forward to learning more about this new and exciting therapy."

Compass, established by Guidant in 1994, provides financial support and industry expertise to medical technology entrepreneurs on the cusp of bringing important therapies to market.

Spiration currently has two intra-bronchial and thoracic products under development - the Intra-Bronchial Valve, and the VALR(tm) Surgical System. In early pre-clinical work, both products have demonstrated high potential for improving lung treatment techniques for emphysema and lung cancer. The intra-bronchial valve, a proprietary minimally invasive device placed in the bronchial tree to achieve lung volume reduction, is being developed to provide an important treatment option for patients with emphysema. Designed to minimize tissue trauma, air leaks and bleeding, common complications associated with lung surgery, the company''s VALR Surgical System is being evaluated in clinical trials as a replacement for surgical staplers, staples and buttressing materials currently used for sealing lung tissue. For more information, visit www.spirationinc.com.

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.

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