Sep 3, 2002
Guidant Announces European Approval to Market Paclitaxel Eluting Stent

Approval Affirms Momentum of Breakthrough Therapy

Indianapolis, Ind. - Guidant Corporation (NYSE and PCX: GDT), a global leader in cardiac and vascular technology, today announced that the ACHIEVE(tm) Drug Eluting Coronary Stent System has received CE Mark approval in Europe. This represents the first approval of the ACHIEVE Stent System anywhere in the world. Commercial launch of the product is being delayed awaiting a ruling concerning litigation around the ACHIEVE Stent System. CE Mark approval was granted following a comprehensive review by both the Medicines Control Agency (MCA) and British Standards Institute (BSI).

The ACHIEVE Stent System is manufactured by Cook Incorporated utilizing its proprietary paclitaxel drug coating and manufacturing processes, and incorporates market-leading MULTI-LINK PENTA(tm) Stent System components supplied by Guidant.

"European market approval of the ACHIEVE Stent System confirms the continued momentum of this breakthrough therapy for the treatment of coronary artery disease, and is a clear demonstration of Guidant''s commitment to market leadership in this field," said John M. Capek, Ph.D., president, Vascular Intervention, Guidant. "Cook''s excellent clinical data on paclitaxel-eluting stents and proprietary drug-coating and manufacturing processes have made possible the rapid development and approval of the ACHIEVE Stent System."

Guidant and Cook Group Incorporated jointly announced on July 30, 2002 that Guidant has agreed to acquire Cook Group Incorporated in a stock-for-stock transaction. This transaction strategically positions Guidant for long-term global leadership in the emerging drug eluting stent market. The parties anticipate closing in early 2003, subject to the satisfaction or waiver of conditions.

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 press release includes forward-looking statements concerning the ACHIEVE system and the Cook Group transaction. The statements are based on assumptions about many important factors, including the factors identified in the release, regulatory and litigation timelines and developments, and the factors listed in the company''s most recent 10-Q. The company does not undertake to update its forward-looking statements.