News Release

Yamanouchi Pharmaceutical Co., Ltd.

Announcement Regarding Change in Top Management of Yamanouchi Pharmaceutical Co., Ltd. (the "Company")

February 25, 2000

We are pleased to announce that the following change in the top management of the Company were decided at the board meeting held on February 25, 2000.

Change

New Position Current Position
        Masayoshi Onoda Representative Director/ Representative Director/
Chairman of the Board President and CEO
        Toichi Takenaka Representative Director/ Senior Managing Director/
President and CEO

Effective Date
        As from April 1, 2000

Reason of change

During seven and a half years from the appointment as President of the Company in October 1992, Mr.Onoda has consistently exerted his efforts for strengthening the research and development capabilities and for expanding the operations in Europe, North America and Asia. He made the global management structure of the Yamanouchi Group take a big step forward.

His efforts have contributed to the enrichment of the worldwide R&D pipeline in the mid term and to a prospect for building up our own independent sales network in the United States. As a result, we now have good prospects for the future growth of our global operation.

In order to discover and develop innovative compounds for next generations to come, it is expected to do creative "drug discovery" fully equipped with genome research capabilities. We are now strengthening further genome drug discovery activities for the establishment of solid management base with the power of growth.

As a driving force for speedily and powerfully proceed with all these management strategies, it is the best timing for the change of top management.