Guidant and COOK Agree to Collaborate on Drug-Coated Stent Program.

Business Editors, Health/Medical Writers

INDIANAPOLIS & BLOOMINGTON, Ind.--(BW HealthWire)--Aug. 20, 2001

Guidant Corporation (NYSE:GDT)(PCX:GDT) and COOK(R) Incorporated today announced that they have entered into a series of development and distribution agreements involving COOK's drug-coated stent program and Guidant's stent and balloon dilatation technology.

The series of agreements include the following:

-- Guidant will act as worldwide exclusive distributor for a new paclitaxel
coated coronary stent to be developed and manufactured by COOK. This new
product will utilize COOK's drug coating technology with stent and delivery
system components supplied by Guidant to COOK. In addition to the distribution
agreement, Guidant will manage clinical trials and regulatory submissions on
behalf of COOK for the new product. The initial stent and delivery system
components will be based on Guidant's latest technology.

-- Under a separate distribution agreement, Guidant will provide COOK with
over-the-wire and rapid exchange stent delivery technologies for COOK to
incorporate into its other coronary stent systems.

-- The companies have also entered into intellectual property licensing
agreements concerning Guidant's stent technology and COOK's endovascular graft
technology for the treatment of abdominal aortic aneurysms.

"Guidant is committed to having the strongest, broadest offering in the drug-coated stent market," said Ronald W. Dollens, President and CEO, Guidant Corporation. "In addition to our internal efforts, we have always been interested in working with external partners to provide multiple options for bringing this new therapy to customers. We are excited about working with COOK to bring this important technology to patients."

Paclitaxel is an anti-proliferative (inhibiting cell growth) compound licensed to COOK from Angiotech Pharmaceuticals of Vancouver, B.C., Canada, for use as an anti-restenosis agent in combination with intravascular stents. In May, COOK completed patient enrollment in its ASPECT and ELUTES international clinical trials of paclitaxel-coated coronary stents. Clinical data from the ASPECT trial is scheduled to be released at the thirteenth annual Transcatheter Cardiovascular Therapeutics (TCT) Conference in Washington, D.C. in September; data from one or both of these 180-patient studies will also be released at major cardiology conferences this fall.

COOK became the first manufacturer to have a paclitaxel-coated coronary stent implanted in the U.S. when the company initiated its U.S. clinical trial of the new Logic(TM) PTX stent on July 16, 2001. The company expects to complete enrollment in early 2002. COOK's drug-eluting coronary stents are investigational devices not approved for sale in the U.S. at this time.

"COOK has always been a leader in innovative medical solutions," said William A. Cook, founder and owner of COOK Incorporated. "We are very pleased with these agreements with Guidant and are excited about the potential benefits to patients worldwide."

Additional terms of the agreement were not disclosed.

With international headquarters in Bloomington, Ind., privately held COOK(R) (www.cookgroup.com) is a leading designer, manufacturer and global distributor of minimally invasive medical device technology for diagnostic and therapeutic procedures. Since its founding in 1963, COOK has been committed to product innovation, skilled hand-craftsmanship and unsurpassed customer satisfaction, earning the company global recognition among medical professionals. COOK Incorporated is acknowledged as an innovator in diagnostic and interventional medicine. More than 40 companies in the United States, Europe, Canada, Australia and Asia design, produce, manufacture and distribute COOK brand medical devices to physicians and other medical professionals around the world.

Guidant Corporation pioneers lifesaving technology, giving an opportunity for better life to millions of cardiac and vascular patients worldwide. To date, more than seven million patients have been treated with Guidant products. The company, driven by a strong entrepreneurial culture of 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.