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Celera Diagnostics Announces Collaboration with Bristol-Myers Squibb to Study Cardiovascular Disease And Diabetes

Alameda, CA - October 07, 2002

Celera Diagnostics, a 50/50 joint venture between the Applied Biosystems Group (NYSE:ABI) and the Celera Genomics Group (NYSE:CRA) of Applera Corporation, today announced a scientific collaboration with Bristol-Myers Squibb to study genes that may be useful in the diagnosis and treatment of cardiovascular disease and diabetes.

Under the terms of the agreement, Bristol-Myers Squibb will provide clinical samples and data to Celera Diagnostics, which will conduct studies to correlate genetic variability with cardiovascular disease and diabetes. Bristol-Myers Squibb will receive exclusive rights to develop and market drugs for cardiovascular disease and diabetes based on therapeutic targets identified by the studies. Celera Diagnostics will retain exclusive rights to develop and market diagnostic products. The collaboration will be managed by a joint steering committee. Financial terms of the agreement were not disclosed.

“Celera Diagnostics expects to expand the value of pharmacogenomic assays from tools for drug development to diagnostic products for broad use by prescribing physicians,” said Kathy Ordoñez, President, Celera Diagnostics. “This collaboration serves as a model of our approach to the discovery of markers and to the development of new diagnostic products that are actionable through their close association with therapeutic treatments.”

“Bristol-Myers Squibb has a rich history in cardiovascular disease research and drug development and this collaboration with Celera Diagnostics should add an important dimension to our cardiovascular research program,” said Nicholas Dracopoli, Ph.D., Vice President, Clinical Discovery Technologies “This is an exciting opportunity to utilize Celera Diagnostics’ high-throughput genotyping platform on an important collection of samples with the goal of discovering novel therapeutic targets and diagnostic tools for cardiovascular disease.”

The companies plan to analyze the genetic variation associated with 1,000 single nucleotide polymorphisms (SNPs) in over 3,000 clinically defined samples. Bristol-Myers Squibb collected these samples for use in studies demonstrating efficacy of its cholesterol-lowering drugs in the treatment and prevention of coronary disease. SNPs account for the majority of genetic variation in humans and can provide valuable information to researchers involved in drug discovery, clinical trials and development of novel molecular diagnostic products. The anticipated resulting correlation of the SNPs to patient clinical symptoms and cardiovascular drug response is expected to support research to develop new diagnostics and treatments for cardiovascular disease and diabetes.

About Applera Corporation and Celera Diagnostics
Celera Diagnostics is a 50/50 joint venture between two Applera Corporation businesses, Applied Biosystems and Celera Genomics. Headquartered in Alameda, CA, Celera Diagnostics focuses on discovering novel genetic markers for disease and configuring these into new diagnostic tests to predict, characterize, monitor and select therapy for cardiovascular disease, auto-immunity, central nervous system disorders, and cancer. The Applied Biosystems Group develops and markets instrument-based systems, reagents, software, and contract services to the life science industry and research community. Applied Biosystems is headquartered in Foster City, CA, and reported sales of $1.6 billion during fiscal 2002. The Celera Genomics Group, located in Rockville, MD, and South San Francisco, CA, is engaged principally in integrating advanced technologies to discover and develop new therapeutics. Celera intends to leverage its proteomics, bioinformatics, and genomics capabilities to identify and validate drug targets and diagnostic marker candidates, and to discover and develop novel therapeutic candidates. Its Celera Discovery System™ online platform, marketed exclusively through the Knowledge Business of Applied Biosystems, is an integrated source of information based on the human genome and other biological and medical sources. Information about Applera Corporation, including reports and other information filed by the company with the Securities and Exchange Commission, is available at www.applera.com, or by telephoning 800.762.6923.

Certain statements in this press release, including the Outlook section, are forward-looking. These may be identified by the use of forward-looking words or phrases such as “expect,” “intend,” and “should,” among others. These forward-looking statements are based on Applera Corporation’s current expectations. The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for such forward-looking statements. In order to comply with the terms of the safe harbor, Applera Corporation notes that a variety of factors could cause actual results and experience to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. These factors include but are not limited to (1) Celera Diagnostics' unproven ability to discover, develop, or commercialize diagnostic products, the risk that clinical trials of products it does discover and develop will not proceed as anticipated or may not be successful, the uncertainty that such products will not be accepted and adopted by the market, and the risk that such products will not receive required regulatory approvals; (2) potential product liability or other claims against Celera Diagnostics as a result of the testing or use of its products; (3) intense competition in the industry in which Celera Diagnostics operates; and (4) other factors that might be described from time to time in Applera Corporation's filings with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and Applera does not undertake any duty to update this information, including any forward-looking statements, unless required by law.

About Bristol-Myers Squibb Company
Bristol-Myers Squibb is a pharmaceutical and related health care products company whose mission is to extend and enhance human life.

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that may be identified by terminology such as "expects," "intend" and "should" and other words or terms of similar expression or meaning. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of htem, and could cause actual outcomes and results to differe materially from current expectations. These factors include, among other things, uncertainties relating to product development. For further details and a discussion of this and other risks and uncertainties, see the company's Securities Exchange and Commission filings, including the company's 2001 Annual Report on Form 10-K. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.


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