PerkinElmer Announces Intent to Acquire Euroscreen Products S.A.

Aequorin Technology Would Strengthen Leadership Position in GPCR Screening

BOSTON -- PerkinElmer, Inc. (NYSE: PKI), a global technology leader in Health Sciences and Photonics, today announced it signed an agreement with Euroscreen S.A., entitling it to acquire Euroscreen S.A.'s majority owned subsidiary, Euroscreen Products S.A., in a cash transaction. Based in Gosselies, Belgium, Euroscreen Products is a leading provider of G protein-coupled receptor (GPCR) membranes, cell lines, and the AequoScreen[TM] aequorin-based cellular assay platform used in pharmaceutical and biotech drug discovery laboratories. The transaction is expected to be completed in the first quarter of 2007.

"This transaction would represent the next step in our strategy to build the most comprehensive offering in cellular screening and drug discovery reagent technologies," said Gregory L. Summe, chairman and chief executive officer of PerkinElmer, Inc. "The AequoScreen platform would give PerkinElmer the ability to meet the growing demands of our pharmaceutical and biotechnology customers with a complete GPCR screening solution that improves performance and reduces workflow costs, while dramatically increasing lab productivity."

Under the terms of the planned transaction, Euroscreen Products would transfer its portfolio of GPCR screening tools and its exclusive global license to aequorin technology, granted by the University of Georgia Research Foundation Inc., to PerkinElmer. Aequorin technology, based on a naturally occurring photoprotein, generates large, luminescent signals that result in higher quality data, while reducing the number of false positives in high throughput and ultra-high throughput screening environments. Improved data accuracy drives greater efficiency and reduced costs, making the AequoScreen platform a superior solution for GPCR screening over traditional fluorescence technologies.

"We are excited about the opportunity to work with PerkinElmer, sharing new ideas on product development and science," said Dr. Jean Combalbert, CEO of Euroscreen S.A. "We expect the combination of the Euroscreen Products portfolio and PerkinElmer's robust global distribution channels would accelerate the adoption of this exceptional screening technology by the world's leading pharmaceutical and biotechnology laboratories. The sale of our products division would enable us to reinforce our strategy dramatically by funding our drug discovery and tailored screening service activities."

This announcement builds upon other recent news from PerkinElmer related to GPCR and kinase assay development. Recently, the Company announced its agreement to purchase Evotec Technologies, which provides high content screening (HCS) technologies to pharmaceutical and biotechnology drug discovery labs. The addition of Evotec and Euroscreen Products would enable PerkinElmer to provide a wide variety of custom HCS solutions to drug discovery customers and strengthen the Company's leadership position in cellular screening.

PerkinElmer's current GPCR portfolio contains a number of the market's most respected assay tool kits, including AlphaScreen([R]) ERK, LANCE([R]) and LANCE Ultra, which have broad potential for identifying cellular targets in a wide range of disease states including, hypertension, gastro-intestinal, and neurological disorders. The AequoScreen platform is particularly well suited for use with PerkinElmer instrumentation and assay kits to identify and classify cellular receptors in the discovery of new therapeutic compounds.

Factors Affecting Future Performance

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Other Information

Health Sciences end markets include genetic screening, environmental, service, biopharma, and medical imaging. Photonics markets include sensors and specialty lighting.

PerkinElmer, Inc. is a global technology leader driving growth and innovation in Health Sciences and Photonics markets to improve the quality of life. The Company reported revenues of $1.5 billion in 2005, has 8,000 employees serving customers in more than 125 countries, and is a component of the S&P 500 Index. Additional information is available through www.perkinelmer.com or 1-877-PKI-NYSE.