More than 50 years ago, a company called Fenwal was created with a single purpose: to provide high quality, innovative blood collection and processing products and services that support our customer's mission to improve and save lives. Today, this purpose is renewed as Fenwal Inc. is launched as an independent company, once again, with Baxter's completed divestiture of its Transfusion Therapies business. As a separate business, Fenwal is one of the world's largest suppliers of products and services to the transfusion medicine industry.

Baxter and Fenwal are committed to a seamless transfer of ownership and maintaining excellence in customer service. To ensure the transition proceeds smoothly, Baxter will be providing Fenwal with services and support on an interim basis for a period of time. This means that as the transfer of ownership occurs at this time, the people and transactional processes you rely on every day will remain the same.

We are proud of the Fenwal name with its strong heritage of innovation and global leadership. After more than 50 years of innovating, we are now re-inventing ourselves and renewing our commitment to:

• Providing personalized service and support
  
• Partnering with you to bring about new and better solutions and products
  
• Pursuing excellence and continuous quality improvements, and
  
• Proving our leadership by earning your trust and respect, each and every day
  
  It is an honor and a privilege to work with you to create the future of the transfusion medicine industry.

A Rewarding Career

Fenwal encourages our employees to develop skills to meet the demands of an ever-changing work environment, providing them with opportunities to achieve personal and professional goals that will make them valued contributors throughout their careers.

Automated Component Collection

Blood collection systems and products used for automated red cell collection, plateletpheresis and plasmapheresis.

Ancillary Products

Ancillary products assist in the collection, processing, storage, and transfusion of blood and blood components

Blood Processing Systems

Products and systems designed to help collect blood safely while further enhancing the safety of the blood supply.


Whole Blood Collection

Products and systems for use in the collection of blood, blood components and for the filtration of leukocytes from whole blood, red cells and platelet products.

FENWAL LAUNCHED AS INDEPENDENT CORPORATION FOLLOWING
COMPLETION OF DIVESTITURE FROM BAXTER HEALTHCARE CORPORATION

ROUND LAKE, Ill., March 1, 2007, Fenwal Inc. today announced its launch as
an independent company. The new corporation is formed upon Baxter Healthcare
Corporation completing the sale of its Transfusion Therapies business to Texas Pacific
Group (TPG) and Maverick Capital, Ltd.

Established by TPG and Maverick Capital, Ltd. as an independently operated
company, Fenwal now becomes one of the world’s largest suppliers of products and
services to the transfusion medicine industry. Since it was first established in 1949, the
Fenwal brand has become recognized around the world as being synonymous with
innovation in transfusion medicine.

More than 50 years ago, this business was created with a single purpose: to
support the mission of health-care providers to save and improve lives by providing high
quality, innovative blood collection and processing products and services,” explains Ron
K. Labrum, President and CEO of Fenwal. “Today, this purpose is renewed as Fenwal
once again becomes an independent company.”

A pioneer in the science of transfusion medicine, Fenwal has introduced
technological breakthroughs that have helped make blood collection and blood therapy a
reality, and its advanced technologies have helped to ensure a safe and plentiful global
blood supply. “We are focused on delivering new and better solutions and products that
are developed in collaboration with our customers, and backed by the service and support
expected of an industry leader,” said Labrum. “As an independent business, Fenwal will
have a singular focus and resources to continue investment in research and development,
as well as pursue opportunities to shape the future of transfusion medicine.”
Baxter will continue to provide certain manufacturing, distribution and support
services to Fenwal for a period of time following the close, under transition agreements
signed by the companies. “As the transfer of ownership occurs, our first priority is to
maintain excellence in customer service and to execute a seamless transition of
ownership,” said Labrum.

TPG is a private investment partnership that was founded in 1992 and currently
has more than $30 billion of assets under management. With offices in San Francisco,
London, Hong Kong, New York, Minneapolis, Fort Worth, Melbourne, Menlo Park,
Mumbai, Shanghai, Singapore and Tokyo, TPG has extensive experience with global
-morepublic
and private investments executed through leveraged buyouts, recapitalizations,
spinouts, joint ventures and restructurings. Please visit www.tpg.com .
Dallas and New York-based Maverick Capital, Ltd., a manager of private investment
funds, is also an investor in this transaction.

Fenwal Inc has five manufacturing plants located in Haina, Dominican Republic;
San German and Maricao, Puerto Rico; La Châtre, France; and Bir Drassen, Tunisia. The
company has approximately 3,500 employees worldwide, and annual sales of more than
$500 million.

Fenwal’s global team is focused on the development, manufacture and global
marketing of products that allow blood centers, hospital blood banks, and plasma
collection centers throughout the world to collect, separate, process, filter, store and
administer whole blood and blood components for therapeutic use. To enhance the safety
of transfusion medicine, Fenwal has focused on improved patient protection and has
played a key role in developing automated systems and safety systems for whole blood
collection. From the first fully automated blood cell separator to the most advanced
apheresis technology, Fenwal continues to be a world leader in the development of
innovations that change the practice of transfusion medicine.

Current product development is focused on systems that facilitate the process of
cell separation using automated methods, systems to remove leukocytes (white cells)
from blood components, and other processes to aid in ensuring a safe and available global
blood supply.