Jones Day

Tokyo/Frankfurt, September 1, 2005 - Jones Day advises Sumitomo Chemical Co., Ltd. and Sumitomo Pharmaceuticals Co., Ltd. on the $2.2 billion merger of Sumitomo Pharmaceuticals Co., Ltd. with Dainippon Pharmaceutical Co., Ltd.

The Transactionbr>

The transaction will be effective on October 1, 2005. Dainippon, the surviving entity, will retain its listing on the Tokyo Stock Exchange. The deal will be effected by means of a stock swap. Sumitomo will not raise its stake in the merged company beyond 51% interest for 10 years. The new company will be one of Japan's 10 largest pharmaceutical companies with an expected market capitalization of approximately US$ 4 billion and expected 2007 annual sales in excess of US$ 2.5 billion.br>

The Teambr>

The Jones Day team in the Firm's Tokyo office is led by Toru Yamada (M&A) and Kotaro Kimura (intellectual property). Sumitomo retained Jones Day for worldwide competition advice as well. Tokyo partner Scott Jones leads the antitrust team and was assisted by Johannes Zöttl (Jones Day Frankfurt) and Thomas Jestaedt (Jones Day Brussels) in the multi-jurisdictional determination of filing requirements. Jones, Zöttl and Keiko Hashimoto (Jones Day Tokyo) coordinate the cross-border processes. Merger control filings are handled by Peter Wang in China (Jones Day Shanghai) and Louis Liu in Taiwan (Jones Day Taipei). Jones Day Washington partner Tom Smith advised on U.S. antitrust issues. In South Korea, Jones Day retained Kim & Chang (Ji-Soo Jang, Sun-Young Jang, John S. Yoo).br>

About Jones Daybr>

With more than 2,200 lawyers in 30 locations around the world and well over 100 antitrust experts in the United States, Europe and Asia, Jones Day ranks among the world's leading law firms and possesses one of the most significant competition law practices in the world. The Firm is present in Germany with two offices in Frankfurt and Munich. As in prior years, Jones Day again led the Thomson Financial Ranking with 530 completed M&A transactions in 2004 and with 114 deals in the first quarter of 2005 by number of completed transactions. For the first time, Jones Day also ranked number one on completed German transactions by volume in the first quarter of 2005 and number two in the second quarter of 2005.br>

JONES DAY

Ottmar Libal

Business Development & Communications Manager

Grüneburgweg 102

60323 Frankfurt am Main

Tel.: 069 / 97 26 39 10

Fax: 069 / 97 26 39 02

olibal@jonesday.com