News Release

Yamanouchi Pharmaceutical Co., Ltd.

Yamanouchi Establishes Venture Capital Company in the US

November 22, 2000

Tokyo - November 22, 2000 --- Yamanouchi Pharmaceutical Co., Ltd. (President and CEO: Toichi Takenaka) has established Yamanouchi Venture Capital LLC, a 100%-owned affiliate of its US subsidiary, Yamanouchi Group Holding Inc., in Palo Alto, California, in order to expand and strengthen the Yamanouchi Group's investments in early stage biotechnology companies throughout the world. The new company will start operations in January 2001.

Yamanouchi Venture Capital LLC will invest in promising biotechnology companies and support their growth and commercialization of their projects in developing new technologies and new drugs in areas of greatest promise, including the areas of the Yamanouchi Group's leading-edge technologies and innovative product opportunities. The initial funding of the new company is US$ 30 million. The Palo Alto office will be opened in January, at which time the company will begin actively assessing and pursuing investment opportunities.

The Yamanouchi Group has historically cooperated with biotechnology companies, other drug companies, universities and other research facilities. The new venture capital company will assist in opening and expanding opportunities of companies in which it invests.

Outline of Yamanouchi Venture Capital LLC
Date of establishment: November 17, 2000
Location: Palo Alto, California, USA
Owner: Yamanouchi Group Holding Inc. (100%)
Initial Capital: US$ 30 million
Business: investment in biotechnology companies

Contact the following persons regarding investment:
Dr. M. Doi: Fax +81-3-5916-5616, e-mail: [email protected]
Mr. Y. Sakae: Fax +81-3-5255-7662, e-mail: [email protected]

[For your reference]

Yamanouchi Pharmaceutical Co, Ltd., established in 1923 and headquartered in Tokyo, Japan, is the third largest pharmaceutical company in Japan. Yamanouchi is expanding its business base to Europe, the United States and Asia and employs nearly 9,000 people worldwide. As a research-based developer, manufacturer and marketer, Yamanouchi has introduced several world-class drugs to the international market, including the H2 antagonist famotidine, the calcium antagonist nicardipine, and tamsulosin, a treatment for functional symptoms of benign prostatic hyperplasia.