Sep 17, 2002
Guidant Updates Investors During Annual Investor/Analyst Conference in New York

Company Reiterates Guidance for 2002; Previews 2003 Full-Year Revenue and Earnings Per Share

New York - Guidant Corporation (NYSE and PCX: GDT), a world leader in the treatment of cardiac and vascular disease, will host its previously announced Investor/Analyst Conference in New York City today, Tuesday, September 17, from 9:00 a.m. to approximately 3:15 p.m. Eastern Daylight Time.

The meeting, which will be webcast live, will be hosted by Guidant''s President and CEO Ronald Dollens and will feature a review of current and future business opportunities, including an update on the company''s drug eluting stent programs, therapies to treat heart failure and market development efforts. Senior management will participate in the briefing.

Also participating in the meeting will be Alan Heldman, M.D., associate professor of medicine, Johns Hopkins University School of Medicine, who will provide a drug eluting stent clinical update. Joseph Smith, M.D., Ph.D., director, The Arrhythmia Institute, will present a briefing on heart failure and the landmark MADIT II clinical study.

Financial Guidance

Keith Brauer, vice president, finance, and CFO, will reiterate previously disclosed financial guidance for the third quarter of this year of $800-$825 million in revenue and earnings per share of $0.52-$0.55. For the full-year of 2002, Brauer restated revenue projections of $3.0-3.2 billion and adjusted earnings per share of $2.00-$2.06. As in previous practice, the company will review fourth quarter guidance during its third quarter earnings call on October 17.

During the meeting, Brauer will outline full-year 2003 financial guidance of more than $4 billion in revenue, including Cook Group, and adjusted earnings per share of $2.15-$2.21. He will also preview Guidant's long-term financial outlook.

Webcast Information

A live webcast of Guidant''s conference call is accessible through Guidant''s website at www.guidant.com/webcast or at CCBN's individual investor center at www.companyboardroom.com. 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.

This release includes forward-looking statements concerning financial guidance. The statements are based on assumptions about many important factors, including product development and regulatory timelines and results; continuing legal developments relating to stents; the timing, costs, and benefits associated with the Cook Group acquisition; competitive developments; and other factors identified on Exhibit 99.1 to the company''s most recent 10-Q. As such, they involve risks that could cause actual results to 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.