News Release

Yamanouchi Pharmaceutical Co., Ltd.

Yamanouchi Completes Transfer of Shares of Shaklee in Japan and US

May 28, 2004

Tokyo -May 28, 2004- Yamanouchi Pharmaceutical Co., Ltd. ("Yamanouchi"; President and CEO: Toichi Takenaka) announced that it has completed the transfer of shares of Shaklee Japan K.K., Shaklee Corporation (USA), and Inobys Ltd. engaged in supplements and personal care products business to a partnership established by Activated Holdings LLC and RHJ Industrial Partners, an affiliate of Ripplewood Holdings L.L.C. This transfer is based on the final agreement between the parties concerned on April 2, 2004 to transfer the consumer products business (supplements, personal care products, and foods and flowers) of Yamanouchi's US subsidiary.

The transfer of shares of Bear Creek Corporation engaged in the foods and flowers business to Wasserstein & Co., LP is scheduled to be completed in the first quarter of the fiscal year ending March 2005.