News Release

BAXTER AND INTERNATIONAL SOCIETY OF NEPHROLOGY ANNOUNCE RENAL DISCOVERIES GRANT PROGRAM WINNERS

Program Promotes Scientific Advancement in the Treatment of Kidney Disease

DEERFIELD, Ill., March 28, 2003 - Baxter Healthcare Corporation, in collaboration with the International Society of Nephrology (ISN), announced today five recipients of the global Renal Discoveries grant program. Renal Discoveries is an extramural grant program supported by Baxter to promote scientific advancement in the treatment of kidney disease.

"The Renal Discoveries grant program is designed to encourage and support the discovery of novel therapeutic options for people living with kidney disease. I heartily congratulate this year's winners and look forward to our ability to facilitate their important scientific contributions to kidney disease research and treatment advancements," said William Owen, Jr., M.D., chief scientist, Baxter's Renal business.

In October 2002, 62 applicants from 21 countries submitted research proposals for the program's second-round topic, Cardiovascular Morbidity and Mortality in Kidney Disease. An independent medical advisory board, composed of ISN members, evaluated all submissions, judging them on scientific merit and the potential to address the current program topic. Board membership rotates every three years to ensure diversity in scientific judgment.

Renal Discoveries winners are awarded up to $50,000 USD per year for three-year basic clinical and applied research grants. Applied research grant winners also are eligible for increased funding of up to $300,000 USD in years two and three of their grant program.

Second-round grant winners include:

• Kerstin Ute Amann, M.D., University of Erlangen-Numberg, Erlangen, Germany. Proposal: "Coronary Arteries and Coronary Placques in Uremic Patients - Comparison of Remodeling, Angiogenesis, Cellular Composition, Expression of Inflammatory Markers and Calcification Between Uremic and Non-Uremic Coronary Patients."
• Peter J. Blankestijin, M.D., Ph.D., University Medical Center Utrecht, Utrecht, The Netherlands. Proposal: "Effect of Increased Convective Clearance by On-Line Hemodiafiltration on all Cause and Cardiovascular Mortality in Chronic Hemodialysis Patients."
• Josef Coresh, M.D., Ph.D., Johns Hopkins University, Baltimore, Maryland. Proposal: "Prospective Study of Inflammatory Markers and Genes as Predictors of Atherosclerotic Disease in Dialysis Patients."
• Mark S. Segal, M.D., Ph.D., University of Florida, Gainesville, Florida. Proposal: "Cell Markers of Arteriosclerosis in Renal Failure."
• Angela Yee-Moon Wang, M.B.B.S., M.R.C.P., Prince of Wales Hospital, Chinese University of Hong Kong, Shatin, Hong Kong. "Targeting Peroxisome Proliferator-Activated Receptor-Gamma in Peritoneal Dialysis Patients - Will it Reduce Inflammation and Atherosclerosis and Improve Survival of Peritoneal Dialysis Patients?"

Renal Discoveries demonstrates Baxter's continued support of the study of kidney disease, including pathophysiology and treatment options, by building on a previous grant program that distributed more than $25 million to 221 grant winners in 20 countries. It provides needed resources to enable scientific researchers to pursue long-term basic and applied studies.

"The Renal Discoveries program encourages researchers from around the world to tackle critical research initiatives that may result in real outcomes for patients," said Robert C. Atkins, ISN president. "Such studies are critical to enhancing the collective knowledge base on kidney disease and treatment. It is our hope that someday these research initiatives will result in more effective treatments for kidney disease patients."

About Renal Discoveries
Renal Discoveries is modeled after grant programs managed by the United States National Institutes of Health, with topics announced each year and detailed writing instructions to guide applicants through the process. An independent medical advisory board evaluates applications based on scientific merit.

Applications for the program's next topic, Treatment of Severe Congestive Heart Failure with Peritoneal Dialysis, are due on September 1, 2003. Winners from that round will be announced in early 2004. For more information on the program and to apply for future grants visit www.baxter.com/egp or www.isn-online.org.

About ISN
The International Society of Nephrology is a global organization. Its membership consists of more than 8,000 individual kidney specialists in practically every country. The Society's goal is the worldwide advancement of education, science and patient care in kidney disease.

About Baxter
Baxter's Renal business provides a complete and complementary portfolio of dialysis-related products used in the treatment of patients with kidney disease, including dialysis systems and solutions, pharmaceuticals and biotechnology products.

Baxter Healthcare Corporation is the principal domestic operating subsidiary of Baxter International Inc. (NYSE: BAX). Baxter International Inc., through its subsidiaries, assists health care professionals and their patients with treatment of complex medical conditions, including cancer, hemophilia, immune disorders, kidney disease and trauma. The company applies its expertise in medical devices, pharmaceuticals and biotechnology to make a meaningful difference in patients' lives.

Renal Discoveries is a trademark of Baxter International Inc. and its affiliates.

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