Headquartered in Basel, Switzerland, and operating in over 140 countries around the world, Novartis innovates for the benefit of its customers. Novartis is a world leader in pharmaceuticals and consumer health (Generics, OTC, Medical Nutrition, Animal Health, Infant & Baby/Gerber, CIBA Vision). In 2001, the Novartis Group's businesses achieved sales of CHF 32.0 billion (USD 19.1 billion) and a net income of CHF 7.0 billion (USD 4.2 billion). The Group invested approximately CHF 4.2 billion (USD 2.5 billion) in R&D in key therapeutic areas.

We place a premium on translating the power of innovation into tangible results for our customers - which means more effective, convenient and safer products. They range from life-saving drugs for organ transplantation to state-of-the-art contact lenses, from affordable generic medicines to a famous name in baby food, from trusted over-the-counter brands against the common cold to products that protect pets and farm animals.

Throughout the Novartis Group, we attach the greatest values to the quality and commitment of our staff. Worldwide, we employ about 74,000 people of different cultural backgrounds, education, qualifications and tasks. In addition, thousands of associates receive Novartis share options as a component of their remuneration. We are also continuing to invest in the development of our employees, with the support not only of internal faculty members, but also of world leaders such as the Harvard Business School.

As we pursue our concentration on healthcare, we are pressing forward to strengthening our pipeline. As of December 2001, we have 50 development projects in Phase II and beyond, including both new molecular entities and additional indications or formulations for marketed products. Innovation will remain the lifeblood of our company and we will continue to invest in key technologies such as functional genomics, seek to recruit the best professional and creative talent in the industry, and encourage innovative thinking and actions throughout our business operations.

Novartis AG (NYSE: NVS) is a world leader in healthcare with core businesses in pharmaceuticals, consumer health, generics, eye-care, and animal health. For further information please consult http://www.novartis.com.