To: Jim Oravetz who wrote (249 ) 5/23/2001 8:11:58 PM From: Jim Oravetz Read Replies (1) | Respond to of 370 Dear Fellow Stockholder: You are cordially invited to attend the Company's Annual Meeting of stockholders to be held at 10:00 a.m., on Thursday, July 26, 2001 at the Kitano Hotel, 66 Park Avenue, New York, New York 10016. This year you are being asked to: (i) elect seven directors; (ii) approve an amendment to the Company's Certificate of Incorporation to increase the Company's authorized shares of common stock from 35,000,000 shares to 100,000,000 shares; (iii) approve an increase in the number of authorized shares that may be granted under the Amended and Restated 1993 Stock Option Plan; and (iv) ratify the appointment of Ernst & Young LLP as the Company's independent auditors for 2001. At the meeting, I will be pleased to report on the affairs of the Company and a discussion period will be provided for questions and comments of general interest to stockholders. Number of shares Percent of outstanding Directors, Officers & 5% Stockholders beneficially owned shares of Common Stock ------------------------------------- ------------------ ---------------------- Michel C. Bergerac........................................ 28,250(1) * Stephen K. Carter ........................................ 0 * Frank T. Cary............................................. 80,968(2) * Alan Kessman.............................................. 436,500(3) 1.7% William R. Miller......................................... 199,406(4) * Alan C. Sartorelli, Ph.D.................................. 418,455(5) 1.6% Walter B. Wriston......................................... 75,968(6) * Charles MacDonald......................................... 10,000(7) * Mario Sznol, M.D.......................................... 50,000(8) * Terrence W. Doyle, Ph.D................................... 280,224(9) 1.1% Bijan Almassian, Ph.D..................................... 66,625(10) * Ivan King, Ph.D........................................... 86,400(11) * Thomas Mizelle............................................ 162,960(12) * Thomas E. Klein........................................... 40,102(13) * All directors and executive officers as a group (12 persons) ........................................... 1,732,796(14) 6.6% Other Beneficial Owners ----------------------- Elliott Associates, L.P. Elliott International, L.P. (f/k/a Westgate International, L.P.) Martley International, Inc. c/o Elliott Associates, L.P. 712 Fifth Avenue, 36th Floor New York, NY 10019..................................... 2,966,113(15) 11.3%