In addition, the settlement resolves Boston Scientific's damage claims against Medtronic arising out of a German court case and a previous U.S. arbitration proceeding involving Medtronic rapid exchange stent delivery systems and angioplasty dilatation balloon catheters. Under the agreement, Medtronic will pay Boston Scientific $175 million to settle damage award claims for past infringement. Medtronic has previously accrued for this payment, while Boston Scientific expects to record the payment in its third quarter.

No additional terms of the settlement were disclosed.

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

Medtronic, Inc., headquartered in Minneapolis, is the world's leading medical technology company, providing lifelong solutions for people with chronic disease. Its Internet address is www.medtronic.com.

This press release contains forward-looking statements. The Companies wish to caution the reader 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 the litigation process, commercialization of new technologies, competitive offerings, intellectual property and other factors described in the Companies' filings with the Securities and Exchange Commission.