Feb 18, 2003
Guidant Announces Quarterly Dividend

Company Sets Date for Annual Meeting of Shareholders

Indianapolis, Ind. - Guidant Corporation (NYSE and PCX: GDT), a world leader in the treatment of cardiac and vascular disease, today announced that the company''s board of directors declared a second quarter dividend for 2003 of $0.08 per share on outstanding common stock. The dividend is payable June 30, 2003, to shareholders of record on June 16, 2003.

"Given the company''s strong cash flow and financial position, payment of a dividend to our shareholders is an appropriate decision at this time," stated Ronald W. Dollens, president and CEO, Guidant Corporation. "In addition to providing shareholder value through dividends, Guidant will continue to aggressively pursue strategic investments in new products, market development and acquisitions."

Guidant''s board of directors also announced today the date for the 2003 Annual Meeting of Shareholders. The meeting will be held in Indianapolis on Monday, May 19, 2003. Formal notice of the meeting will be delivered to shareholders via the proxy statement in March.

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.

This release includes forward-looking statements concerning cash flows and uses of cash. The statements are based on assumptions about many important factors, including general business conditions; market trends and competition; the availability of appropriate investment opportunities; economic conditions, including exchange rates; and the factors listed on exhibit 99.1 to Guidant''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.