Applied Biosystems, HTS Biosystems and Mitsubishi Chemical Corporation Announce Distribution Agreement in Japan and Collaboration for Next-Generation SPR Technology for Proteomics.

Business Editors/Health/Medical Writers

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FOSTER CITY, Calif., HOPKINTON, Mass., and CHIYODA-KU, TOKYO, Japan--(BUSINESS WIRE)--April 7, 2003--Applied Biosystems (NYSE:ABI), an Applera Corporation business, HTS Biosystems, Inc., and Mitsubishi Chemical Corporation  (MCC) today announced a distribution agreement in which Applied Biosystems Japan, Ltd. (ABJ), a division of Applied Biosystems, will be the exclusive distributor of a next-generation surface plasmon resonance (SPR) system that is designed to help researchers profile and characterize biomolecular interactions. In addition, the three companies are expected to collaborate to further develop applications to expand the capabilities of the system. Applied Biosystems plans for worldwide commercial release of the system by the middle of calendar 2003. Financial terms of the agreement were not disclosed.

In April 2002, Applied Biosystems and HTS Biosystems entered into a licensing and supply agreement to develop and commercialize the SPR technology that permits high-throughput analysis of protein interactions in a more cost-effective and streamlined manner than existing technologies. Prior to the agreement, HTS Biosystems granted MCC rights to distribute the system once commercialized in Japan. Since that time, HTS has performed extensive development to improve the capabilities and applications for the system. HTS Biosystems and MCC have chosen ABJ as its exclusive distributor based on ABJ's broad distribution, sales and support network in the region and to allow MCC to focus its efforts on development of applications for both the Japan and worldwide markets. ABJ is expected to leverage the development, and global sales and marketing efforts of Applied Biosystems to support the SPR platform.

"Advancements in technology are providing new opportunities to understand complex systems and networks responsible for important biological functions," said Michael W. Hunkapiller, Ph.D., President of Applied Biosystems. "We believe this technology could be an important new tool for researchers who are seeking a better understanding of the role of proteins in disease detection and drug development."

"The opportunity to be involved with these world leaders and to have access to the tremendous capabilities of Applied Biosystems and MCC is a testament to the value of our SPR technology and HTS team," said Gregory G. Freitag, Chief Executive Officer of HTS Biosystems. "The development of future products by MCC, Applied Biosystems and HTS combined with Applied Biosystems worldwide marketing and distribution should help to quickly establish the market for advanced, high-throughput SPR detection."

"We believe the SPR technology will be very useful and contribute to the research and technology development for therapeutic discovery in Japan," said Kohei Umedu, Ph.D., Executive Officer, Director of Health Care Planning of Mitsubishi Chemical Corporation. "We expect ABJ's marketing and sales activities to be successful. In addition, we look forward to the collaboration between Applied Biosystems, HTS and MCC to further develop applications and expand the global market for the system."

About Applera Corporation and Applied Biosystems

Applera Corporation comprises two operating groups. The Applied Biosystems Group develops and markets instrument-based systems, reagents, software, and contract services to the life science industry and research community. Customers use these tools to analyze nucleic acids (DNA and RNA), small molecules, and proteins to make scientific discoveries, develop new pharmaceuticals, and conduct standardized testing. Applied Biosystems is headquartered in Foster City, CA, and reported sales of $1.6 billion during fiscal 2002. The Celera Genomics Group (NYSE:CRA), located in Rockville, MD, and South San Francisco, CA, is engaged principally in integrating advanced technologies to discover and develop new therapeutics. Celera intends to leverage its proteomic, bioinformatic, and genomic capabilities to identify and validate drug targetsand to discover and develop new therapeutics. Its Celera Discovery System(TM) online platform, marketed exclusively through the Applied Biosystems Knowledge Business, is an integrated source of information based on the human genome and other biological and medical sources. Celera Diagnostics, a 50/50 joint venture between Applied Biosystems and Celera Genomics, is focused on discovery, development, and commercialization of novel diagnostics products. Information about Applera Corporation, including reports and other information filed by the company with the Securities and Exchange Commission, is available on the World Wide Web at http://www.applera.com, or by telephoning 800/762-6923. Information about Applied Biosystems is available on the World Wide Web at http://www.appliedbiosystems.com.

About HTS Biosystems, Inc.

HTS Biosystems, Inc. is a privately held biotechnology company specializing in high-throughput bioanalytical systems for the rapidly growing field of proteomics. HTS Biosystems offers a unique portfolio of innovative technologies that support all phases of proteomics, from discovery to development of therapeutic and diagnostic products. The company's technology platform -- the Proteomatrix(TM) Solution -- streamlines the discovery process and captures fixed costs for more effective use of protein data in target screening, validation, and discovery efforts. Collaborations with key industry partners, such as Applied Biosystems, Dyax Corporation, Mitsubishi Chemical Corporation, and Molsoft LLC have driven the development of the company's technology platform and related systems, including the next generation SPR system, the CHEMI FLEX(TM) System, and the PHASE FLEX(TM) System for target discovery, screening and validation. HTS Biosystems' operations are located in Hopkinton, MA. For more information, visit http://htsbiosystems.com.

About Mitsubishi Chemical Corporation

Mitsubishi Chemical Corporation (MCC) is a Japanese leading chemical company with a new business development strategy. MCC and its Group companies engage in diverse operations, including mainline businesses in petrochemicals, carbon products and agrochemicals, information and electronics related products, pharmaceuticals, specialty chemicals, functional materials, and plastic-based products. MCC particularly emphasizes specialty chemicals and pharmaceuticals as engines of long-term growth. Over the past few years, MCC has entered into global outsourcing of research activities by forming strategic research alliances with international centers of research excellence so as to develop a portfolio of Innovative Global Products (IGPs) in the product arena of pharmaceutical and life science technologies.

Mitsubishi Chemical's corporate principle, Good "Chemistry" for Tomorrow, expresses our unique stance -- a forward-looking commitment and challenge to discover chemistry's new potentials while establishing and strengthening the interrelationships of people, society and nature. For more information, visit Web site at http://www.m-kagaku.co.jp

Certain statements in this press release, including the Outlook section, are forward-looking. These may be identified by the use of forward-looking words or phrases such as "believe," and "planned," among others. These forward-looking statements are based on Applera Corporation's current expectations. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for such forward-looking statements. In order to comply with the terms of the safe harbor, Applera Corporation notes that a variety of factors could cause actual results and experience to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. These factors include but are not limited to (1) rapidly changing technology and dependence on development of new products; (2) sales dependent on customers' capital spending policies and government-sponsored research; (3) claims for patent infringement; (4) significant overseas operations, with attendant exposure to fluctuations in the value of foreign currencies; and other factors that might be described from time to time in Applera Corporation's filings with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and Applera does not undertake any duty to update this information, including any forward-looking statements, unless required by law.

Applied Biosystems is a registered trademark and Applera, Celera, Celera Diagnostics, Celera Discovery System, and Celera Genomics are trademarks of Applera Corporation and/or its subsidiaries in the U.S. and certain other countries.

CHEMI FLEX, HTS Biosystems, PHASE FLEX, and Proteomatrix are trademarks of HTS Biosystems, Inc.

Mitsubishi Chemical Corporation is a trademark of Mitsubishi Chemical Corp.