News Release

BAXTER RECEIVES 510(k) APPROVAL FOR EXELTRA, NEW SINGLE-USE DIALYZER FOR KIDNEY DISEASE

EXELTRA Dialyzer Provides Higher Clearance to Help Patients Achieve Treatment Goals

DEERFIELD, Ill., May 5, 2003 -- Baxter Healthcare Corporation today announced that it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the EXELTRA Family of Single-Use Dialyzers, the company's latest single-use dialyzer to be used by people with kidney disease who are treated with hemodialysis (HD).

"The clearance of the EXELTRA dialyzer expands Baxter's established portfolio of hemodialysis products and reaffirms our commitment to continually advancing hemodialysis treatment," said Alan L. Heller, senior vice president and president of Baxter's Renal business. "With the introduction of the EXELTRA dialyzer, we are proud to offer health-care professionals new tools to provide a more efficient and high-performance hemodialysis treatment."

This new dialyzer has the thinnest, high-flux membrane available in any single-use dialyzer. This allows for higher small and middle molecule clearance of toxins from the blood. The EXELTRA dialyzer family achieves the highest measurement of solute clearance efficiency (or KoA) per surface area of all current dialyzers available in North America. Because of its clearance achievements, the EXELTRA dialyzer family provides the most efficiency and flexibility in managing treatment times and target dialysis dose (Kt/V), defined by the National Kidney Foundation K/DOQI treatment guidelines. Because of its high clearance rate, the EXELTRA Plus 210 dialyzer also is particularly suitable for hemodialysis patients with larger body mass, who require greater clearance rates.

The EXELTRA dialyzer membrane is synthesized for clinically-proven biocompatibility, when compared to standard dialyzers. This process of synthesizing the membrane, reduces risk factors seen in non-biocompatible membranes, including inflammatory response and complement activation (the immune system's response to foreign bodies in the bloodstream). In addition, the EXELTRA dialyzer is gamma-irradiated (a common dialysis sterilization process involving gamma radiation) further reducing risks for patients with sensitivity to ethylene oxide (EtO), a gas frequently used for dialysis sterilization.

The EXELTRA dialyzer capitalizes on an important trend in dialysis treatment - a movement toward high-flux, single-use dialyzers. Industry experts believe that single-use dialysis may promote greater patient safety by reducing the risk of chemicals used to clean reusable dialyzers from entering a patient's bloodstream. Additionally, single-use dialyzers may require less technician staff time and expense to prepare dialysis administration and appropriate cleaning measures required with a reusable dialyzer.

The EXELTRA dialyzer is expected to be available to health-care professionals in the United States and Canada in the second half of 2003. More information on Baxter's Renal business can be found at www.baxter.com.

Hemodialysis Background
During hemodialysis, which is one therapy option for end-stage renal disease patients, blood is removed from the body through a needle inserted into a blood vessel. The blood is then pumped through a filter, or artificial kidney, called a dialyzer that cleanses the blood and returns the cleansed blood back to the body. Hemodialysis also helps to maintain electrolytes and pH (acid and base balance) at levels that sustain life.

Baxter Background
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.

(BAXTER and EXELTRA are registered trademarks of Baxter International Inc. and its subsidiaries.)

This news release contains forward-looking statements that involve risks and uncertainties, including product demand and market acceptance, the impact of competitive products and pricing, and other risks detailed in the company's filings with the Securities and Exchange Commission. These forward-looking statements are based on estimates and assumptions made by management of the company and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results or experience could differ materially from the forward-looking statements.

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