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News Release

January 7, 2003

Eisai Inc., a U.S. Subsidiary of Eisai Co., Ltd. Assumes
All Distribution Responsibilities for ARICEPT R

Eisai Inc. (Headquarters: New Jersey, Chairman: Soichi Matsuno), a U.S. subsidiary of Eisai Co., Ltd. (Headquarters: Tokyo, President: Haruo Naito), announced today it has independently started operating the U.S. distribution of ARICEPT R, an Alzheimer's disease medication. Effective January 2, Eisai Inc. fulfills purchase orders for ARICEPT R from a distribution center in Memphis, Tennessee. Eisai Inc. committed the U.S. distribution of ARICEPT R to Pfizer Inc., a co-promotion partner, in the past.

Eisai Inc. previously owned a series of capabilities from research and development to manufacture, sales, and promotion. By building this distribution capability, the company's seamless structure for its products is reinforced. This will bring to the company expectations for development of partnership and new business opportunities in the future.

ARICEPT R is an acetylcholinesterase inhibitor and was synthesized by Eisai Co., Ltd. ARICEPT R increases a neurotransmitter in the brain, acetylcholine serving to improve the symptoms associated with mild to moderate Alzheimer's disease. Currently Pfizer Inc. co-promotes ARICEPT R with Eisai Co., Ltd., and ARICEPT R has been launched in over 60 countries worldwide including Japan, the U.S., the U.K., Germany, and France. Sales are forecast for this fiscal year to be approximately yen114.5 billion.