Celera Genomics and Life Technologies, Inc. to Collaborate On Creating Human Full-length Sequences and Clones.

Business Editors and Health/Medical Writers

ROCKVILLE, MD--(BW HealthWire)--July 12, 2000

Companies Expect Clones and Sequences To Be Valuable Tools for Drug

Development

Celera Genomics (NYSE:CRA), a PE Corporation business, and Life Technologies, Inc., a major provider of products and technologies for life science research and bioproduction, (OTC Bulletin Board: LTEK.OB) announced a collaboration to create a large collection of clones containing human full-length genes and the corresponding DNA sequences of such genes. Gene clones and the resulting sequence information could help accelerate drug development.

Under the terms of the agreement, the gene sequence information will be used to annotate Celera's Human Genome Database, and the clones would be available from Life Technologies through an active link within the database. Clones containing proprietary genes would be available to Celera's database subscribers. Other clones would be available to researchers in both academia and for profit entities. The two companies will share revenues generated by the output resulting from this agreement, including sales of clones and licensing of intellectual property.

Celera will use its high-capacity automated sequencing capability to sequence cDNA libraries created by Life Technologies. Life Technologies will employ its proprietary full-length normalized cDNA library technology to prepare gene libraries in which it expects the majority of the genes would be in the full-length form, representative of their natural function. This includes use of technology covered by Life Technologies' recently issued reverse transcriptase patent. To facilitate downstream research efforts, the parties have agreed that all clones produced under this collaboration should incorporate Life Technologies' proprietary GATEWAY(TM) Cloning Technology, a new and highly efficient method for the rapid transfer of large numbers of genes into multiple systems for protein expression and functional analysis.

"This relationship is expected to enable Celera and Life Technologies customers to have access to some of the most comprehensive sets of full-length clones available in the marketplace," said J. Craig Venter, Ph.D., Celera's president and chief scientific officer. "These cDNA reagents should enhance Celera and Life Technologies customers' ability to focus their gene discovery initiatives and accelerate their drug discovery process."

"Our expertise in cDNA library construction, gene isolation and gene transfer technologies, when combined with Celera's cutting-edge sequencing should yield a powerful resource for understanding gene function," says Life Technologies President and Chief Executive Officer J. Stark Thompson, Ph.D. "We believe the resulting GATEWAY-compatible clones and sequence data will be valuable tools which will provide a platform for the research community to facilitate functional genomics research and drug discovery. Our work with Celera should further position Life Technologies as a leading provider of technologies in the proteomics and functional analysis fields."

PE Corporation comprises two operating groups. The Celera Genomics Group, headquartered in Rockville, MD, intends to become the definitive source of genomic and related medical information. The PE Biosystems Group (NYSE: PEB), with sales of $1.2 billion during fiscal 1999, develops and markets instrument-based systems, reagents, software and contract services to the life science industry and research community. PE Biosystems is headquartered in Foster City, CA, and comprises four divisions: Applied Biosystems, PE Informatics, PerSeptive Biosystems, and Tropix. Information about the company, including reports and other information filed by the company with the Securities and Exchange Commission, is available on the worldwide web at www.pecorporation.com or by phoning 800.762.6923.

Life Technologies, Inc. (www.lifetech.com) provides essential technologies needed by the biotechnology and biopharmaceutical communities. The company manufactures and markets a breadth of offerings unique in the industry, used in applications of the life sciences discovery, development, and production process. The offerings range from catalog and custom product to technology licensing, research services, large-scale production, and life science technical expertise and support. With operations in more than 20 countries and distributor relationships in more than 40 others, the company serves customers in universities, public and private research institutions, and biotechnology and pharmaceutical companies.

Certain statements in this press release are forward-looking. These may be identified by the use of forward-looking words or phrases such as "believe," "expect," "anticipate," "should," "intend," "planned," "estimated," and "potential," among others. These forward-looking statements are based on PE 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, PE 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. The risks and uncertainties that may affect the operations, performance, development, and results of Celera Genomics' businesses include but are not limited to (1) operating losses to date; (2) a unique and developing business plan; (3) dependence on the timely completion of the sequencing and assembly of the human genome; (4) uncertainty of revenue growth; (5) unproven use of genomics information to develop products; (6) intense competition in the evolving genomics industry; (7) dependence on customers in and subject to the risks of the pharmaceutical and biotechnology industries; (8) heavy reliance on strategic relationship with the PE Biosystems group; (9) potential product liability claims; (10) liabilities related to use of hazardous materials; (11) lengthy sales cycle; (12) dependence on the unique expertise of its scientific and management staff; (13) uncertainty of patent, copyright and intellectual property protection; (14) dependence on computer hardware, software, and internet applications; (15) access to biological materials; (16) legal, ethical and social issues affecting demand for products; (17) disruptions caused by rapid growth of the business; (18) government regulation of its products and services; (19) risks of future acquisitions; and (20) other factors that might be described from time to time in PE Corporation's filings with the Securities and Exchange Commission.

Any statements in this press release concerning Life Technologies' business outlook or future economic performance; anticipated profitability, revenues, expenses or other financial items; together with other statements that are not historical facts, are "forward-looking statements" as that term is defined under the Federal Securities Laws. Forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from those stated in such statements. Such risks, uncertainties and factors include, but are not limited to, the ability of the parties to perform successfully their obligations in the collaboration, the value of the sequence information and materials derived from the collaboration, the ability of the parties to obtain intellectual property, changes in government funding for life sciences research, delays in new product introduction, customer acceptance of new products, changes in government regulations, changes in pricing or other actions by competitors and general economic conditions, as well as other risks detailed in the filings of Life Technologies.

Celera, Celera Genomics, and PE Biosystems are trademarks of PE Corporation. Life Technologies: Essential Technologies for the Science of Life(TM).