The following contains forward-looking guidance regarding 
Incyte's financial outlook for 2001. 
This guidance excludes the impact of any potential business 
acquisition, technology acquisition, 
or significant strategic equity investment that may be made. 

    -- Revenue guidance for 2001 is in the range of $220 to $240 million.
       Quarterly percentage increases over the prior year are anticipated to
       be similar (within 5 percentage points) to the overall percentage
       increase for the year.
    -- To provide additional visibility on the underlying profitability of
       Incyte's database and partnership programs and custom genomics
       business, guidance for adjusted net income (adjusted to exclude
       Incyte's investment spending programs, goodwill amortization and other
       depreciation and amortization, as further described below) is a profit
       of $58 to $68 million.  Including these items, guidance is for a net
       loss of $47 to $57 million.
          -- investment spending programs are forecasted at approximately
             $60 million which are focused on further development of  Incyte's
             intellectual property portfolio and internal disease pathway and
             therapeutic drug discovery programs
          -- goodwill amortization is anticipated to be $12 million
          -- other depreciation and amortization is estimated at $43 million
    -- The guidance for the quarterly net loss is that approximately 67% of
       the annual loss is anticipated in the first half of the year with
       narrowing losses through the remainder of the year. The improvement is
       primarily due to forecasted increases in revenue.
    -- Capital spending is forecasted to be in the $40 to $45 million range.
    -- Cash balance guidance for year-end 2001 is in the range of $520 to
       $540 million.