Natick, MA (June 27, 2002) -- Boston Scientific Corporation (NYSE: BSX) announced today that the United States District Court for the Northern District of Illinois has issued a written opinion confirming its June 13 oral ruling in favor of Boston Scientific in its dispute with Cook Inc. over Cook's agreements with Guidant Corp. relating to paclitaxel-coated stents. The court ruled that Cook breached a co-exclusive license agreement among Boston Scientific, Cook and Angiotech Pharmaceuticals, Inc.

Consistent with the June 13 ruling, the court found in its written opinion that the Cook-Guidant agreements constituted "a de facto sublicense" that was "neither authorized, permitted, nor lawful." The court characterized the Cook-Guidant agreements as a "sham" and wrote that Cook's "actions cannot be countenanced." The court found that the Angiotech agreement "clearly evinces an intent that only Cook and Boston (Scientific) are to be players in the paclitaxel business." In addition to the grounds stated in its June 13 ruling, the court found that Cook breached the Angiotech agreement by unlawfully assigning its regulatory responsibilities to Guidant.

During a status conference today, the court set a schedule to determine the nature and extent of remedies due Boston Scientific resulting from Cook's breach. Boston Scientific will submit its motion for an injunction on July 15, and briefing on that motion will conclude by August 19. Boston Scientific will request a permanent injunction prohibiting any activities under the Cook-Guidant agreements and any future attempts to circumvent the Angiotech agreement. Further, Boston Scientific will seek to enjoin the use of any clinical data and any technologies developed by Cook or Guidant in violation of the Angiotech agreement.

While no formal motions were made today by either party, Cook agreed to dismiss its antitrust claim, which was the lone remaining Cook claim against Boston Scientific.

"The court's written decision confirms the oral ruling it issued earlier this month," said Jim Tobin, President and Chief Executive Officer. "We are pleased with the schedule set by the court to determine the remedies we will receive."

Angiotech is a Canadian pharmaceutical company dedicated to the development of medical coatings and treatments for chronic inflammatory diseases through reformulation of paclitaxel.

Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties.

This press release contains forward-looking statements. The Company wishes to caution the reader of this press release that actual results may differ from those discussed in the forward-looking statements and may be adversely affected by, among other things, risks associated with litigation, clinical trials, the regulatory approval process, commercialization of new technologies and other factors described in the Company's filings with the Securities and Exchange Commission.