Minister Martin announces Abbott to expand its Vascular Operations in Ireland

Abbott commences recruitment of several hundred additional staff, as previously announced

Minister for Enterprise, Trade and Employment Micheál Martin TD today (Tuesday 12^th September 2006) officially opened the new approximately €90 million high-value drug-eluting stent manufacturing operation for Abbott Vascular, a division of Abbott, one of the world’s leading healthcare companies. The event also marked the commencement of work on a new €30 million administration building at Clonmel, Co. Tipperary. The operation is supported by IDA Ireland and is Abbott’s eighth manufacturing facility in Ireland. It follows Abbott’s acquisition earlier this year of Guidant Corporation’s vascular intervention and endovascular solutions businesses.

Minister Martin said “Abbott’s decision to expand its infrastructure immediately with the recruitment of additional staff by the end of 2007 is excellent news for Clonmel, as it implements the plans for the site announced in 2004 under an IDA-supported expansion. Abbott is to be congratulated on its significant growth at the facility since it acquired the operation in April of this year, having already increased employment there to its current employee count of approximately 850.”

Abbott Vascular’s operations in Galway have also experienced rapid growth over the past three years. Additionally the site was recently granted planning permission to build a new 150,000 square foot facility that will include manufacturing areas, warehousing, laboratories, and a three-story office accommodation.

Minister Martin continued, “With more than 3,300 employees in Ireland, Abbott’s investment here further confirms our competitive position worldwide to sustain high-value manufacturing activities for leading global companies with an abundance of highly-skilled and experienced people. With these major investments now in place, Clonmel and Galway are well positioned to lead Abbott’s planned growth in the global coronary care market.”

“Expansion to accommodate new facilities and additional personnel is necessary as we develop and deliver the highest-quality lifesaving devices and treatments for cardiovascular disease — particularly in emerging therapies such as drug-eluting, carotid and bioabsorbable stents,” said Pat Ryan, vice president, Manufacturing Operations, Cardiac Therapies, who spoke at an event in Clonmel today to celebrate expansion activities at the site. “We are pleased to continue our legacy of commitment to Ireland and to the Clonmel and Galway communities.”

Abbott, one of the first healthcare companies to establish manufacturing operations in Ireland in 1946, employs more than 3,300 people in the country across its diagnostics, nutritionals, pharmaceutical and devices businesses. In addition to the Clonmel and Galway sites, the company has manufacturing operations in Sligo, Longford, Cootehill, and Donegal, and a sales and marketing division in Dublin.

About Abbott Vascular

Abbott Vascular, a division of Abbott, is one of the world’s leading vascular care businesses. Abbott Vascular is uniquely focused on advancing the treatment of vascular disease and improving patient care by combining the latest medical device innovations with world-class pharmaceuticals, investing in research and development, and advancing medicine through training and education. Headquartered in Northern California, Abbott Vascular offers a comprehensive portfolio of vessel closure, endovascular and coronary products that are recognized internationally for their safety, effectiveness and ease of use in treating patients with vascular disease. For more information, visit www.abbottvascular.com.

For further information please contact –

Abbott Vascular: Ms. Laurie Mannix, MRPA Kinman Tel: 086 8143710

IDA Ireland: Ms. Ruth Croke, Press & PR Manager. Tel: 087 4195051

Department of Enterprise, Trade & Employment: Caitriona Meehan. Tel 086 6069749