CHIR Chiron (MM)

Chiron Corporation (NASDAQ:CHIR) today announced that three independent proxy advisory firms, Institutional Shareholder Services, Proxy Governance, and Glass Lewis & Co., have recommended that Chiron shareholders vote in favor of the company's amended merger agreement with Novartis AG (NYSE:NVS). As announced on April 3, Novartis has increased to $48.00 per Chiron share the price it will pay for the approximately 56 percent of Chiron shares that Novartis does not already own. The merger will require a majority of outstanding shares as of the record date to be voted in favor of the transaction. Chiron is in the process of sending updated proxy materials to shareholders and plans to convene the special shareholders meeting on April 12, 2006, and to immediately adjourn the meeting and then reconvene on April 19, 2006. As all necessary regulatory approvals were previously received, Chiron expects the merger to close promptly after the stockholder vote on April 19. About Chiron Chiron delivers innovative and valuable products to protect human health by advancing pioneering science across the landscape of biotechnology. The company works to deliver on the limitless promise of science and make a positive difference in people's lives. For more information about Chiron, please visit www.chiron.com.