May 26, 2004
Company Provides Update on its Drug Eluting Stent Program

Mid-Quarter Conference Call Tomorrow at 9:00 AM EDT

Indianapolis, Ind. - Guidant Corporation (NYSE: GDT) will host its previously announced mid-quarter conference call tomorrow, May 27, 2004, at 9:00 AM EDT. On the call, the company will provide an update on its drug eluting stent program and timelines.

The company is confident in its everolimus eluting stent program and the bioabsorbable polymer based on clinical trial data and extensive preclinical testing.

Commenting on the progress of FUTURE III enrollment, as previously disclosed, the company is refining its manufacturing processes to ensure product consistency for large-scale manufacturing. In the meantime, available capacity is dedicated to product characterization work to support European approval of its third module of the CE filing and an Investigational Device Exemption (IDE) for U.S. approval.

Recently, Guidant has identified issues with regard to the CHAMPION stainless steel stent platform that may result in manufacturing process modifications and/or stent design changes. The company continues to investigate these issues. If the problems identified only require a manufacturing process change, it would allow for IDE filing in June. Alternatively, if a stent design change is required, a delay of the IDE filing of up to six months is possible.

If necessary, A. Jay Graf will postpone his previously announced retirement to support the Vascular Intervention organization until these issues are resolved, which should be no later than end of 2004.

The company fully expects market release of an everolimus eluting stent program with the current bioabsorbable polymer.

This matter will be discussed in further detail during Guidant''s previously announced mid-quarter call tomorrow morning.

Conference Call

Participating on the call will be Guido J. Neels, chief operating officer, Guidant Corporation; Dana G. Mead, Jr., president, Vascular Intervention, Guidant Corporation; Fred McCoy, president, Cardiac Rhythm Management, Guidant Corporation; and Keith E. Brauer, vice president, Finance and CFO, Guidant Corporation.

A live webcast of Guidant''s conference call will be accessible through the company''s website at www.guidant.com/webcast. The webcast will be archived for future on-demand replay. Additional financial information concerning Guidant is available at www.guidant.com/investors.

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 12,000 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 DES product timelines, the resolution of issues relating to the CHAMPION platform, and the DES program generally. The statements are based on assumptions about many important factors, including additional clinical reviews and work, associated regulatory processes and timelines, additional operational enhancements, and other factors identified on Exhibit 99 to the company''s most recent 10-Q. Actual results may differ materially. The company does not undertake to update its forward-looking statements.