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IMMUNEX STOCKHOLDERS TO RECEIVE FULL MERGER CONSIDERATION

 SEATTLE, June 3 /PRNewswire/ -- Immunex Corp. (NASDAQ: IMNXD) announced today that stockholders of record June 1, 1993, will receive one share of new Immunex common stock and $21 in cash for each share of old Immunex common stock held. Later this week Immunex stockholders will receive letters of transmittal from the company's exchange agent, Chemical Bank, with instructions for exchanging shares of old Immunex for shares in the new company. The full merger consideration of stock and cash will be paid to Immunex stockholders within the next several weeks. On June 1, 1993, Immunex stockholders voted to approve the company's merger with Lederle Oncology Corp., a subsidiary of American Cyanamid Co. (NYSE: ACY). The merger was effective Tuesday.
 Immunex common stock will trade temporarily under the symbol "IMNXD", indicating a reorganization and new stock issue. In approximately one month, Immunex common stock will trade under its previous symbol, "IMNX". Immunex warrants will trade temporarily under the symbol "IMNWD" and then under the symbol "IMNXW".
 Immunex is a biopharmaceutical company focused on the discovery, development, manufacture and marketing of products to treat cancer and autoimmune disease.
 -0- 6/3/93
 /CONTACT: Jason Rubin or Valoree Dowell of Immunex, 206-587-0430/
 (IMNXD ACY)


CO: Immunex Corp. Lederle Oncology Corp.; American Cyanamid Co. ST: Washington IN: MTC SU: TNM

SW -- SE004 -- 4961 06/03/93 11:53 EDT
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Publication:PR Newswire
Date:Jun 3, 1993
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