St. Jude Medical Announces Discontinuance of Symmetry Bypass Aortic Connector Product Line.

ST. PAUL, Minn. -- St. Jude Medical, Inc. (NYSE:STJ) today announced its intention to discontinue its Symmetry(TM) Bypass System Aortic Connector product line effective December 31, 2004. The Company will, however, continue to provide ongoing product, technical and physician support for these devices.

"While we have been pleased with the clinical performance and technical advances offered by the Symmetry Anastomotic device, and continue to believe in the value this technology provides, business conditions in this area have proven to be increasingly challenging," said George J. Fazio, President of the Cardiac Surgery Division.

"It was a difficult decision for the Company to cease manufacturing, development, sales and marketing of the Symmetry Bypass Aortic Connector," Mr. Fazio continued. "Although physicians have seen the promise this product offers for certain patients in coronary artery bypass graft surgery (CABG), the number of CABG cases has declined, and there also appears to have been a slow down in the adoption of off-pump CABG surgeries for which this product line was developed. As such, there has been a reduction in the demand for anastomotic devices in general. Given declining sales and the prospect of ongoing operating losses, we have concluded that the financial commitment and resources necessary to maintain and advance the Symmetry product line are no longer appropriate.

"We will continue to support our customers and their patients," said Mr. Fazio. "As part of these efforts, medical, engineering and quality systems staff will be available to correspond with physicians in support of patients and use of the device. While our support will be ongoing, sale of new product will be discontinued on December 31, 2004.

"Going forward, we believe that the focus and allocation of resources afforded by this decision will be beneficial to our efforts in the areas of heart valve disease management, surgical treatments for atrial fibrillation and other emerging medical technologies," Fazio concluded.

St. Jude Medical became involved with sutureless anastomotic devices after it acquired Vascular Sciences, Inc. in September 1999. The Symmetry Bypass Aortic Connector received CE Marking approval in May 2000 and FDA clearance in May 2001.

St. Jude Medical anticipates recording a non-recurring charge against third quarter 2004 earnings in the range of $32 to $37 million for the write-off of inventory and fixed assets, legal charges, product returns and other costs related to this product line discontinuance.

Any statements made regarding St. Jude Medical's anticipated future product launches, regulatory approvals, revenues, earnings, market shares, non-recurring charges, and potential clinical success are forward-looking statements which are subject to risks and uncertainties, such as those described in the Financial Section of the Company's Annual Report to Shareholders for the fiscal year ended December 31, 2003 (see pages 11-16). Actual results may differ materially from anticipated results.

St. Jude Medical, Inc. (www.sjm.com) is dedicated to the design, manufacture and distribution of innovative medical devices of the highest quality, offering physicians, patients and payers unmatched clinical performance and demonstrated economic value.