News Release

Yamanouchi Pharmaceutical Co., Ltd.

Yamanouchi America, Inc.
Names Nicholas L. Teti President and Director
Teti, Former President of DuPont Pharmaceuticals,
To Expand Yamanouchi's U.S. Business Operations

January 29, 2001


Yamanouchi Pharmaceutical Co., Ltd. has named Nicholas L. Teti as President of the company's United States business division, Yamanouchi America, Inc., and a member of the board of directors of Yamanouchi America, Inc. effective immediately. Teti, 48, was most recently the President and Chief Executive Officer of DuPont Pharmaceuticals, a division of DuPont (NYSE: DD). Yamanouchi America, Inc. is establishing headquarters in Paramus, NJ, and Teti will serve as the division's founding president.

Teti brings to Yamanouchi more than 24 years of extensive pharmaceutical leadership experience with DuPont Pharmaceuticals (formerly DuPont Merck), a company with $1.6 billion in sales in 1999. He had served there in all of the top leadership positions in the North American, Canadian and European Pharmaceuticals' divisions before becoming President and CEO in 1998.


Nick Teti is a pharmaceutical industry leader with impressive health care marketing experience that is a perfect match to lead our team and establish a new business operation in the United States," said Dr. Toichi Takenaka, Yamanouchi Pharmaceutical Co., Ltd., President and CEO. "Nick*s long track record of business success, revenue growth, successful product launches, and the ability to organize operations, build teams and motivate people will fuel our entrance into this important pharmaceutical market."

Throughout his tenure with DuPont Pharmaceuticals, Teti implemented numerous strategic initiatives, including the redesign of the company's worldwide pharmaceuticals business, initiation of business operations in Canada, assistance of key business development deals, orchestration of winning sales and marketing campaigns, establishment of an e-commerce strategy, and the development of unique leadership, cultural and employee programs.

Under Teti's leadership, DuPont Pharmaceuticals experienced one of the most successful U.S. pharmaceutical launches for Sustiva(efavirenz) for the treatment of HIV. For more than a decade, Teti was involved in the sales and marketing efforts for the company's leading product, Coumadin (sodium warfarin). During that time, Coumadin grew from a $50 million to a $500 million leading cardiovascular pharmaceutical product due to strategic expansion of the brand and clinical market development.

Teti started his career as a sales representative with DuPont Pharmaceuticals in 1978 and advanced within the company to eventually become President. A Philadelphia native, Teti holds an M.B.A. in Health Care Administration and a B.A. in Economics from St. Joseph*s University. He is married with three children and is relocating his residence to New Jersey.

"I am honored and excited to have the opportunity to lead the formation of Yamanouchi's American sales and marketing team and look forward to building a highly competitive business operation," said Teti. "Yamanouchi's management, quality products and rich R&D pipeline make the company well-positioned for long term success in many markets."

Yamanouchi Expands American Business Operation
Parallel with this important management appointment, Yamanouchi announces the formation of Yamanouchi America, Inc., headquartered in Paramus, NJ. The goal of the new business is to independently market Yamanouchi's key pharmaceutical products through a new sales network within the next few years.

"This key management appointment is another milestone towards achieving our goal of expanding our business into the U.S. market - the world's largest pharmaceutical market - and becoming a truly global pharmaceutical enterprise," concluded Dr. Takenaka. "The successful startup of Yamanouchi America, Inc. is one of our main business objectives for this year."

Yamanouchi Pharmaceutical Co., Ltd. has always made an impact on the U.S. pharmaceutical market through its clinical development and the licensing of many well-known products. Yamanouchi has licensed Cardene (nicardipine) to Syntex/Roche, Pepcid (famotidine) to Merck, Cefotan (cefotetan) to Astra-Zeneca, Foradil (formoterol) to Novartis, and Flomax (tamsulosin) to Boehringer Ingelheim.

The company's clinical development arm, Yamanouchi U.S.A., Inc., plans to expand its clinical development programs in the United States on a number of promising drug candidates to support the business, including: YM087 - a treatment for heart failure and hyponatremia, YM905 - a treatment for urinary incontinence, and YM992 - an oral antidepressant.

Additionally, Yamanouchi's presence in the United States includes Yamanouchi Pharma Technologies, Inc. (YPT) Research Center on the grounds of the Stanford Research Park in Palo Alto, California, and Manufacturing Center in Norman, Oklahoma. YPT is principally involved in the commercial development of the company's drug delivery technologies.

Earlier this year, the company also established Yamanouchi Venture Capital LLC, in Palo Alto, California, in order to expand and strengthen the Yamanouchi Group's investments in early stage biotechnology companies throughout the world.

Yamanouchi Pharmaceutical Co., Ltd.
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 more than 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.

Yamanouchi's Consumer Division also owns the Shaklee Corporation, manufacturer of nutritional and other products, and the Bear Creek Corporation, a marketer of gourmet gift foods, horticultural items, clothing, and other products. Bear Creek's businesses include Harry and David gourmet foods and Jackson & Perkins, roses and gardening products.