AstraZeneca Unveils Multi-million Dollar Investment in Canada

$100 Million Expansion Program Demonstrates Global Commitment to Pharmaceutical Business Development in Canada

MISSISSAUGA, Dec. 10, 2003-- AstraZeneca Canada Inc., one of Canada’s largest pharmaceutical companies, today celebrated the official opening of its new Canadian Business Centre, a multi-million dollar investment in Mississauga, Ontario. To date, the global parent company, AstraZeneca PLC, has invested more than CDN $80 million in the award-winning building project, which commenced in June 2002. It has also generated more than CDN $25 million in wages, benefits and payroll as well as 355,000 person hours of direct employment in connection with the project.

Two senior members of Ontario’s new Liberal Cabinet attended the event, signifying the importance of this occasion. At the launch, it was announced that parent company AstraZeneca PLC has allocated CDN $21-million in additional funds to further develop AstraZeneca Canada’s headquarters in a second phase of investment. This second phase is scheduled to begin construction in 2004, with occupancy scheduled for 2005. The project will include the demolition of the existing administration building and replacing it with a new CBC Amenities Building capable of servicing the 2010 projected head office count of more than 1,000 people.

“Today's launch of our new premises is only part of what we are celebrating today,” said Mike Cloutier, President and CEO, AstraZeneca Canada Inc. “During the last three years, we have expanded rapidly with a 30 per cent increase in our workforce — which meant we quickly outgrew our old administration building. Today, about 900 employees work at this new high-tech facility in Mississauga, which is our Canadian headquarters for manufacturing, clinical research, sales, marketing and distribution. In addition, more than 100 scientists work at our basic pain research centre in Montreal."

“We are honoured to have so many guests from all levels of government, community officials and representatives join us today — clearly a tribute to the importance and significance of this project,” Cloutier continued. “Investing in healthcare, whether through a new building, research or a better environment for our employees, means investing in Canadians, the economy, and the well-being of generations to come.”

Her Worship Hazel McCallion, Mayor of Mississauga, The Hon. George Smitherman, (MPP Toronto Centre-Rosedale), Ontario’s Minister of Health and Long-Term Care, and The Hon. Joe Cordiano (MPP York South-Weston), Ontario’s Minister of Economic Development and Trade, were among the guests who celebrated and spoke at today’s event.

“Mississauga is proud of the many pharmaceutical and biotechnology companies that have chosen to call this city home,” said Mayor McCallion. “We will continue working to improve the investment climate, so that our community can attract even more high-tech jobs.”

Guests were addressed by government officials on issues relating to how governments will strive to work together with AstraZeneca to continue building a quality healthcare system that brings new medicines faster to the patients who need them, as well as how the pharmaceutical industry contributes to Canada’s economic prosperity.

“Pharmaceutical care is an essential aspect of our public health care system and new treatments, like those developed here at AstraZeneca, are improving the health of Ontarians everywhere," said Minister Smitherman. "We're pleased to see AstraZeneca expand its capability to meet the health care needs of the people of this province.”

“Ontario has three thriving pharmaceutical and biotech clusters, including a large one across Mississauga and the Greater Toronto Area,” added Minister Cordiano. “By focusing our attention on these and other key industry clusters, our economic development plan will build a more innovative economy and create life-science jobs for Ontario's science graduates.”

About AstraZeneca Canada

AstraZeneca is one of the leading global pharmaceutical companies with a formidable product portfolio spanning six major therapeutic areas: gastrointestinal, cardiovascular, oncology, respiratory, neuroscience and infection. AstraZeneca's brands include Crestor^®, Nexium^®, Losec^®, Atacand^®, Casodex^®, Arimidex^®, Symbicort^®, Zomig^® and Seroquel^®. Ranked as one of the top 50 employers in Canada by The Globe and Mail's Report on Business Magazine, AstraZeneca's Canadian headquarters and manufacturing facilities are located in Mississauga, Ontario, with a state-of-the-art basic pain research centre based in Montreal, Quebec. For more information, visit the company's website at www.astrazeneca.ca.