CHICAGO, Ill., May 3, 2005 – At its Annual Meeting of Stockholders conducted today, executives of Baxter International Inc. (NYSE:BAX) reflected on the many changes that have occurred at the company over the last year, and reported on the improvements that have been achieved in Baxter's financial position and operational execution.

 

“2004 was a year of tremendous change for our company,” said Robert L. Parkinson, Jr., chairman and chief executive officer. “This change has not only helped us meet short-term objectives, but, more importantly, has positioned us well for the future.”

 

“We are establishing a stronger financial foundation. We have built one of the strongest and most cohesive senior management teams in the healthcare industry, and we have made considerable progress over the last year in refocusing on disciplined operational excellence,” Parkinson continued. “We are re-energizing our efforts to accelerate new product and business development, areas critical to accelerate our growth in the years ahead.”

 

Baxter shareholders elected directors Joseph B. Martin, MD, Robert L. Parkinson, Jr., Thomas T. Stallkamp and Albert P.L. Stroucken to three-year terms on Baxter's board of directors, and elected Blake E. Devitt to a two-year term on the board. Shareholders ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for Baxter for 2005, and voted in support of a proposal advocating the annual election of directors. Proposals related to cumulative voting in the election of directors, and restrictions on services performed by independent auditors, were voted down.

 

A replay of Baxter's Annual Meeting of Stockholders is available from a link on Baxter's website at www.baxter.com . Please visit Baxter's website for more information regarding future investor events and webcasts, including investor presentations and a company-sponsored Investor Conference to be held in Chicago on May 25.

 

Baxter International Inc., through its subsidiaries, assists healthcare professionals and their patients with the 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.