Celera Genomics to Provide Target Gene Discovery Services and Human, Mouse and SNP Databases to Pfizer.

ROCKVILLE, Md.--(BW HealthWire)--Nov. 22, 1999--

Celera Genomics (NYSE: CRA), a PE Corporation business, today announced that it has entered into an agreement with Pfizer Inc (NYSE: PFE) that provides a five-year comprehensive genomics agreement including a subscription to all of Celera's current database products and a collaborative gene discovery agreement.

Under the gene discovery agreement, Pfizer and Celera will combine expertise for the identification of a large number of novel drug target genes derived from Celera's sequencing of the human genome. This collaboration will focus on selecting drug targets from the thousands of novel genes discovered by Celera's high throughput gene discovery pipeline. Celera's whole genome shotgun strategy for sequencing the human genome provides information on the entire genome, allowing many rare genes to be discovered that have not been identified by other gene discovery approaches. Pfizer will be provided, on a non-exclusive basis, isolated full-length genes to incorporate into its discovery, development, and commercialization pipeline for small molecule therapeutic products. Under Celera's non-exclusive licensing model, these gene targets will also be available for licensing to other Celera database subscribers.

Pfizer's database subscription gives them access to five databases developed by Celera until 2005. All of Celera's databases integrate Celera proprietary information with publicly available sources. The Celera Human Gene Index provides customers with the set of human genes derived from EST sequencing programs. Second, the Drosophila Genome Database provides the complete sequence of the Drosophila melanogaster genome sequence generated by Celera's whole genome shotgun sequencing strategy. The Drosophila genome database is extensively annotated with gene, protein and biological information. Third, Celera's Human Genome Database will provide the complete sequence of the human genome and the entire collection of human genes with links to associated biological and disease information. Fourth, the Celera SNP Database will be the single most comprehensive source of single nucleotide polymorphisms, the major form of DNA variation responsible for human traits, certain illnesses, and variable drug safety and efficacy. This database will include SNP data from the sequencing of several individuals. Fifth, the Mouse Genome Database being generated by Celera will allow comparative analysis with the human genome that will be especially significant for the identification of genes and gene regulatory regions of importance to pharmaceutical development. Access to the databases also provides Pfizer with associated comprehensive bioinformatics systems and tools for viewing, browsing, and analyzing genomic information.

"We are extremely pleased to have Pfizer, a world leader in pharmaceuticals and healthcare, as a customer," said J. Craig Venter, Ph.D., Celera's president and chief scientific officer. "This agreement incorporates two important elements--broad access to a comprehensive information system including unique genomic information and a substantial specialized research program to be conducted with Pfizer."

"The establishment of this broad agreement with Pfizer is the next logical step in the evolution of the Celera business model," said Tony L. White, PE Corporation chairman, president and chief executive officer.

Celera Milestones

Celera began to sequence the Human genome on September 8, 1999. Celera has now completed the sequencing of over 2.7 billion base pairs - letters of genetic code - of human genomic DNA. The public genome effort has now placed l billion base pairs in GenBank. Including the 300 million human genome base pairs from this amount placed in GenBank that do not overlap with Celera's data, Celera's databases have over 3 billion base pairs of human genome sequence - the equivalent of about 75% draft coverage of the genome.

PE Corporation currently comprises two operating groups. Celera Genomics Group, headquartered in Rockville, Maryland, intends to become the definitive source of genomic and related medical information. PE Biosystems Group, headquartered in Foster City, California and with sales of $1.2 billion during fiscal 1999, develops and markets instrument-based systems, reagents, software and contract related services to the life science industry and research community. Information about the Company, including consolidated financial statements of PE Corporation, is available on the World Wide Web at http://www.pe-corp.com or by phoning [phone].

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," "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) early stage of operations and uncertainty of operating results; (2) no precedent for Celera Genomics' business plan; (3) uncertainty of sequencing strategy; (4) uncertainty of successful operation of new sequencers and sequencing operations; (5) uncertainty of value of polymorphism data; (6) initial reliance on pharmaceutical industry; (7) high dependence on key employees; (8) uncertain protection of intellectual property and proprietary rights; (9) adverse effect of public disclosure of genomic sequence data; (10) highly competitive business; (11) need to manage rapid growth; (12) uncertainty of success of Year 2000 compliance plan; and (13) other factors that might be described from time to time in PE Corporation's filings with the Securities and Exchange Commission.