Exhibit 99.2

BRISTOL-MYERS SQUIBB COMPANY

SALES

FOR THE PERIOD ENDED DECEMBER 31, 2003

($ in millions)

Quarter-to-Date

									Percentage Change
	2003				2002				Including Foreign Exchange		Excluding Foreign Exchange
	Amount		% of Total		Amount		% of Total
Pharmaceuticals	$	4,034	72.4	%	$	3,364	70.2	%	20	%	15	%
US Pharmaceuticals	2,250		40.4	%	1,804		37.6	%	25	%	25	%
Primary Care	1,876		33.7	%	1,503		31.3	%	25	%	25	%
Oncology/Virology	374		6.7	%	301		6.3	%	24	%	24	%
Latin America/Canada	282		5.1	%	238		5.0	%	18	%	13	%
Europe and Middle East Medicines	1,165		20.9	%	978		20.4	%	19	%	5	%
Asia/Pacific Medicines	316		5.7	%	277		5.8	%	14	%	4	%
Oncology Therapeutics Network	589		10.6	%	532		11.1	%	11	%	11	%
Nutritionals	506		9.1	%	463		9.6	%	9	%	9	%
Other Healthcare	442		7.9	%	435		9.1	%	2	%	-3	%
ConvaTec	226		4.0	%	205		4.3	%	10	%	2	%
Medical Imaging	126		2.3	%	125		2.6	%	1	%	-1	%
Consumer Medicines	90		1.6	%	105		2.2	%	-14	%	-17	%
Total Company	$	5,571	100.0	%	$	4,794	100.0	%	16	%	12	%

Year-to-Date

									Percentage Change
	2003				2002				Including Foreign Exchange		Excluding Foreign Exchange
	Amount		% of Total		Amount		% of Total
Pharmaceuticals	$	14,869	71.9	%	$	12,805	70.7	%	16	%	11	%
US Pharmaceuticals	8,292		40.1	%	7,137		39.4	%	16	%	16	%
Primary Care	6,687		32.3	%	5,602		30.9	%	19	%	19	%
Oncology/Virology	1,605		7.8	%	1,535		8.5	%	5	%	5	%
Latin America/Canada	997		4.8	%	882		4.9	%	13	%	17	%
Europe and Middle East Medicines	4,324		20.9	%	3,592		19.8	%	20	%	4	%
Asia/Pacific Medicines	1,059		5.1	%	936		5.2	%	13	%	5	%
Oncology Therapeutics Network	2,241		10.9	%	1,900		10.5	%	18	%	18	%
Nutritionals	1,889		9.1	%	1,828		10.1	%	3	%	4	%
Other Healthcare	1,672		8.1	%	1,586		8.7	%	5	%	—
ConvaTec	828		4.0	%	744		4.1	%	11	%	2	%
Medical Imaging	504		2.4	%	465		2.5	%	8	%	7	%
Consumer Medicines	340		1.7	%	377		2.1	%	-10	%	-12	%
Total Company	$	20,671	100.0	%	$	18,119	100.0	%	14	%	10	%

BRISTOL-MYERS SQUIBB COMPANY

SEGMENT SALES AND COMPOSITION OF CHANGE IN SALES FOR CONTINUING OPERATIONS

FOR THE PERIOD ENDED DECEMBER 31, 2003

(DOLLARS IN MILLIONS)

QUARTER-TO-DATE

Pharmaceuticals	Beauty Care			Oncology Therapeutics Network			Nutritionals			Convatec			Medical Imaging			Consumer Medicines			Company
Price Increases(Decreases)	—			—			1		%	1		%	3		%	—			—
Foreign Exchange	5		%	—			—			8		%	2		%	3		%	4		%
Volume	15		%	11		%	8		%	1		%	-4		%	-17		%	12		%
Total Change	20		%	11		%	9		%	10		%	1		%	-14		%	16
Total 2003 Period to Date Sales	$	4,034		$	589		$	506		$	226		$	126		$	90		$	5,571
Total 2002 Period to Date Sales	$	3,364		$	532		$	463		$	205		$	125		$	105		$	4,794

YEAR-TO-DATE

Pharmaceuticals	Beauty Care			Oncology Therapeutics Network			Nutritionals			Convatec			Medical Imaging			Consumer Medicines			Company
Price Increases(Decreases)	2		%	—			—			—			4		%	—			1		%
Foreign Exchange	5		%	—			-1		%	9		%	1		%	2		%	4		%
Volume	9		%	18		%	4		%	2		%	3		%	-12		%	9		%
Total Change	16		%	18		%	3		%	11		%	8		%	-10		%	14
Total 2003 Period to Date Sales	$	14,869		$	2,241		$	1,889		$	828		$	504		$	340		$	20,671
Total 2002 Period to Date Sales	$	12,805		$	1,900		$	1,828		$	744		$	465		$	377		$	18,119

BRISTOL-MYERS SQUIBB COMPANY

2003 FOURTH QUARTER REVIEW *

($ in Millions)

Corporate Overview - Continuing Operations

Revenues:

	2003		% of Total		2002		% of Total		% Var.
Pharmaceuticals	$	4,034	72.4	%	$	3,364	70.2	%	20	%
Oncology Therapeutics Network	589		10.6	%	532		11.1	%	11	%
Nutritionals	506		9.1	%	463		9.6	%	9	%
Other Healtcare	442		7.9	%	435		9.1	%	2	%
ConvaTec	226		4.0	%	205		4.3	%	10	%
Medical Imaging	126		2.3	%	125		2.6	%	1	%
Consumer Medicines	90		1.6	%	105		2.2	%	-14	%
	5,571		100.0	%	4,794		100.0	%	16	%

Expenses:

				% of Sales					% of Sales		% Var.
COGS	2,080			37.3	%	1,842			38.4	%	13	%
SG&A	1,289			23.2	%	1,121			23.4	%	15	%
Adv. & Promo.	464			8.4	%	390			8.1	%	19	%
R&D	714			12.8	%	660			13.8	%	8	%
Acquired in-process research & development	—			—		2			—		-100	%
Provision for restructuring	8			0.1	%	24			0.5	%	-67	%
Litigation settlement	240			4.3	%	—			—		—
Equity income from affiliates, net	(26		)	-0.5	%	(23		)	-0.5	%	13	%
Other (Inc)/Exp, net	(29		)	-0.5	%	166			3.5	%	-117	%
	4,740			85.1	%	4,182			87.2	%	13	%
Earnings from Continuing Operations
Before Minority Interest and IncomeTaxes	831			14.9	%	612			12.8	%	36	%
Provision for income taxes	277					157
Minority interest, net of taxes	125					81
Earnings from Continuing Operations	$	429		7.7	%	$	374		7.8	%	15	%
Earnings Per Share - Basic	$	0.22				$	0.19				16	%
Average Shares - Basic	1,937					1,935
Earnings Per Share - Diluted	$	0.22				$	0.19				16	%
Average Shares - Diluted	1,973					1,940

Selected Products	Worldwide Sales $in Millions		% Var.		Change in U.S. Rx Demand 4Q03 vs. 4Q02
Plavix	$	808	44	%	29	%
Pravachol/Pravigard Pac	729		22	%	2	%
Avapro/Avalide	230		33	%	17	%
Enfamil	201		12	%	N/A
Sustiva	139		30	%	11	%
Ostomy	134		6	%	N/A
Glucovance	109		45	%	-1	%
Glucophage XR	89		82	%	-16	%
Wound Care	89		16	%	N/A
Zerit	76		-25	%	-28	%
Videx/Videx EC	68		6	%	3	%
Coumadin	54		-13	%	-18	%

Other (Income)/Expense

	2003		2002
Interest Expense	138		106
Interest Income	(86	)	(47	)
Foreign Exchange	18		(3	)
Other - net	(99	)	110
	(29	)	166

* Certain amounts in the unaudited consolidated financial statements for the three months ended December 31, 2002 have been reclassified to conform to current year presentation.

BRISTOL-MYERS SQUIBB COMPANY

2003 ANNUAL REVIEW *

($ in Millions)

Corporate Overview - Continuing Operations

Revenues:

	2003		% of Total		2002		% of Total		% Var.
Pharmaceuticals	$	14,869	71.9	%	$	12,805	70.7	%	16	%
Oncology Therapeutics Network	2,241		10.9	%	1,900		10.5	%	18	%
Nutritionals	1,889		9.1	%	1,828		10.1	%	3	%
Other Healtcare	1,672		8.1	%	1,586		8.7	%	5	%
ConvaTec	828		4.0	%	744		4.1	%	11	%
Medical Imaging	504		2.4	%	465		2.5	%	8	%
Consumer Medicines	340		1.7	%	377		2.1	%	-10	%
	20,671		100.0	%	18,119		100.0	%	14	%

Expenses:

				% of Sales					% of Sales		% Var.
COGS	7,575			36.6	%	6,510			35.9	%	16	%
SG&A	4,578			22.2	%	3,972			22.0	%	15	%
Adv. & Promo.	1,609			7.9	%	1,291			7.2	%	25	%
R&D	2,279			11.0	%	2,217			12.2	%	3	%
Acquired in-process research & development	—			—		169			0.9	%	-100	%
Gain on sale of businesses	—			—		(30		)	-0.2	%	100	%
Provision for restructuring	16			0.1	%	14			0.1	%	14	%
Litigation settlement	174			0.8	%	659			3.6	%	-74	%
Asset impairment charge for ImClone	—			—		379			2.1	%	-100	%
Equity income from affiliates, net	(102		)	-0.5	%	(87		)	-0.5	%	17	%
Other (Inc)/Exp, net	71			0.3	%	251			1.4	%	-72	%
	16,200			78.4	%	15,345			84.7	%	6	%
Earnings from Continuing Operations
Before Minority Interest and Income Taxes	4,471			21.6	%	2,774			15.3	%	61	%
Provision for income taxes	1,173					484
Minority interest, net of taxes	346					256
Earnings from Continuing Operations	$	2,952		14.3	%	$	2,034		11.2	%	45	%
Earnings Per Share - Basic	$	1.52				$	1.05				45	%
Average Shares - Basic	1,937					1,936
Earnings Per Share - Diluted	$	1.51				$	1.05				44	%
Average Shares - Diluted	1,950					1,942

Selected Products	Worldwide Sales $in Millions		% Var.		Change in U.S. Rx Demand YTD 03 vs. YTD 02
Pravachol/Pravigard Pac	$	2,827	25	%	2	%
Plavix	2,467		31	%	29	%
Avapro/Avalide	757		29	%	15	%
Enfamil	721		-4	%	N/A
Sustiva	544		20	%	17	%
Ostomy	503		10	%	N/A
Glucovance	424		72	%	3	%
Glucophage XR	395		33	%	-3	%
Zerit	354		-20	%	-25	%
Wound Care	314		14	%	N/A
Coumadin	303		1	%	-15	%
Videx/Videx EC	267		2	%	3	%

Other (Income)/Expense

	2003		2002
Interest Expense	488		410
Interest Income	(276	)	(127	)
Foreign Exchange	31		1
Other - net	(172	)	(33	)
	71		251

* Certain amounts in the consolidated financial statements for the twelve months ended December 31, 2002 have been reclassified to conform to current year presentation.

BRISTOL-MYERS SQUIBB COMPANY

WORLDWIDE SALES BY PRODUCT

FOR THE THREE MONTHS ENDED DECEMBER 31, 2003

($ in millions)

	WORLDWIDE							INTERNATIONAL *						DOMESTIC *
	2003			2002		% growth		2003		2002		% growth		2003			2002			% growth
Total Company	$	5,571		$	4,794	16	%	$	2,198	$	1,867	18	%	$	3,373		$	2,927		15	%
PHARMACEUTICALS	4,034			3,364		20	%	1,773		1,524		16	%	2,261			1,840			23	%
Cardiovasculars	2,027			1,569		29	%	679		545		25	%	1,348			1,024			32	%
Plavix	808			562		44	%	120		72		67	%	688			490			40	%
Pravachol/Pravigard Pac	729			599		22	%	322		261		23	%	407			338			20	%
Avapro/ Avalide	230			173		33	%	79		60		32	%	151			113			34	%
Monopril	118			85		39	%	63		58		9	%	55			27			104	%
Coumadin	54			62		-13	%	8		7		14	%	46			55			-16	%
Capoten/Captopril	50			52		-4	%	50		52		-4	%	—			—			—
Anti-Cancer	1,098			975		13	%	327		284		15	%	771			691			12	%
TAXOL	239			214		12	%	238		200		19	%	1			14			-93	%
Paraplatin	204			151		35	%	41		35		17	%	163			116			41	%
Anti-Infectives	719			634		13	%	381		362		5	%	338			272			24	%
Sustiva	139			107		30	%	57		42		36	%	82			65			26	%
Cefzil	117			105		11	%	28		26		8	%	89			79			13	%
Zerit	76			101		-25	%	43		48		-10	%	33			53			-38	%
Videx/ Videx EC	68			64		6	%	41		37		11	%	27			27			—
Tequin	65			44		48	%	11		8		38	%	54			36			50	%
Reyataz	49			—		—		3		—		—		46			—			—
Maxipime	48			46		4	%	48		47		2	%	—			(1		)	100	%
Central Nervous System	57			81		-30	%	44		46		-4	%	13			35			-63	%
Sinemet	34			22		55	%	25		20		25	%	9			2				***
BuSpar	10			5		100	%	7		8		-13	%	3			(3		)	200	%
Serzone	(4		)	36		-111	%	1		5		-80	%	(5		)	31			-116	%
Other Pharmaceuticals
Glucophage Franchise	225			176		28	%	5		4		25	%	220			172			28	%
Glucovance	109			75		45	%	2		1		100	%	107			74			45	%
Glucophage XR	89			49		82	%	—		—		—		89			49			82	%
Glucophage	19			37		-49	%	3		3		—		16			34			-53	%
Metaglip	8			15		-47	%	—		—		—		8			15			-47	%
Abilify**	80			25			***	1		—		—		79			25				***
ONCOLOGY THERAPEUTICS NETWORK	589			532		11	%	—		—		—		589			532			11	%
NUTRITIONALS	506			463		9	%	237		225		5	%	269			238			13	%
Infant Formulas	332			286		16	%	110		100		10	%	222			186			19	%
Enfamil	201			179		12	%	61		57		7	%	140			122			15	%
Other Nutritional Products
Toddler/Children’s Nutritionals	108			103		5	%	108		103		5	%	—			—			—
Adult Consumer Nutritionals	34			40		-15	%	12		11		9	%	22			29			-24	%
OTHER HEALTHCARE	442			435		2	%	211		193		9	%	231			242			-5	%
CONVATEC PRODUCTS	226			205		10	%	160		135		19	%	66			70			-6	%
Ostomy	134			126		6	%	98		84		17	%	36			42			-14	%
Wound Care Products	89			77		16	%	60		48		25	%	29			29			—
MEDICAL IMAGING	126			125		1	%	19		20		-5	%	107			105			2	%
Cardiolite	80			82		-2	%	9		10		-10	%	71			72			-1	%
CONSUMER MEDICINES	90			105		-14	%	32		38		-16	%	58			67			-13	%

*This table presents Total Company sales on a legal entity source basis and segment and product sales on a country management reported basis.  As a result, the sum of segment sales for International and for Domestic do not tie to the Total Company International and Domestic sales shown above.

**Includes alliance revenue from the co-promotional agreement with Otsuka Pharmaceutical Co., Ltd.

***In excess of 200%

BRISTOL-MYERS SQUIBB COMPANY

WORLDWIDE SALES BY PRODUCT

FOR THE YEAR ENDED DECEMBER 31, 2003

($ in millions)

	WORLDWIDE						INTERNATIONAL *						DOMESTIC *
	2003		2002		% growth		2003		2002		% growth		2003		2002			% growth
Total Company	$	20,671	$	18,119	14	%	$	7,997	$	6,758	18	%	$	12,674	$	11,361		12	%
PHARMACEUTICALS	14,869		12,805		16	%	6,473		5,531		17	%	8,396		7,274			15	%
Cardiovasculars	7,160		5,831		23	%	2,486		2,013		23	%	4,674		3,818			22	%
Pravachol/Pravigard Pac	2,827		2,266		25	%	1,222		955		28	%	1,605		1,311			22	%
Plavix	2,467		1,890		31	%	382		245		56	%	2,085		1,645			27	%
Avapro/ Avalide	757		586		29	%	283		205		38	%	474		381			24	%
Monopril	470		426		10	%	242		230		5	%	228		196			16	%
Coumadin	303		300		1	%	26		26		—		277		274			1	%
Capoten/Captopril	197		209		-6	%	197		208		-5	%	—		1			-100	%
Anti-Cancer	4,341		3,783		15	%	1,196		1,016		18	%	3,145		2,767			14	%
TAXOL	934		857		9	%	882		719		23	%	52		138			-62	%
Paraplatin	905		727		24	%	136		118		15	%	769		609			26	%
Anti-Infectives	2,575		2,396		7	%	1,453		1,337		9	%	1,122		1,059			6	%
Sustiva	544		455		20	%	210		160		31	%	334		295			13	%
Zerit	354		443		-20	%	181		198		-9	%	173		245			-29	%
Cefzil	327		287		14	%	93		81		15	%	234		206			14	%
Videx/ Videx EC	267		262		2	%	158		140		13	%	109		122			-11	%
Tequin	208		184		13	%	39		26		50	%	169		158			7	%
Maxipime	181		163		11	%	181		164		10	%	—		(1		)	100	%
Reyataz	88		—		—		5		—		—		83		—			—
Central Nervous System	311		430		-28	%	166		169		-2	%	145		261			-44	%
Sinemet	108		97		11	%	86		77		12	%	22		20			10	%
Serzone	98		221		-56	%	7		20		-65	%	91		201			-55	%
BuSpar	35		53		-34	%	29		29		—		6		24			-75	%
Other Pharmaceuticals
Glucophage Franchise	948		778		22	%	18		17		6	%	930		761			22	%
Glucovance	424		246		72	%	5		3		67	%	419		243			72	%
Glucophage XR	395		297		33	%	1		1		—		394		296			33	%
Glucophage	118		220		-46	%	11		13		-15	%	107		207			-48	%
Metaglip	11		15		-27	%	1		—		—		10		15			33-	%
Abilify**	283		25			***	3		—		—		280		25				***
ONCOLOGY THERAPEUTICS NETWORK	2,241		1,900		18	%	—		—		—		2,241		1,900			18	%
NUTRITIONALS	1,889		1,828		3	%	932		864		8	%	957		964			-1	%
Infant Formulas	1,196		1,176		2	%	427		394		8	%	769		782			-2	%
Enfamil	721		750		-4	%	235		228		3	%	486		522			-7	%
Other Nutritional Products
Toddler/Children’s Nutritionals	421		383		10	%	421		383		10	%	—		—			—
Adult Consumer Nutritionals	144		139		4	%	44		40		10	%	100		99			1	%
OTHER HEALTHCARE	1,672		1,586		5	%	761		675		13	%	911		911			—
CONVATEC PRODUCTS	828		744		11	%	566		482		17	%	262		262			—
Ostomy	503		459		10	%	349		303		15	%	154		156			-1	%
Wound Care Products	314		276		14	%	210		173		21	%	104		103			1	%
MEDICAL IMAGING	504		465		8	%	78		72		8	%	426		393			8	%
Cardiolite	324		299		8	%	39		34		15	%	285		265			8	%
CONSUMER MEDICINES	340		377		-10	%	117		121		-3	%	223		256			-13	%

*This table presents Total Company sales on a legal entity source basis and segment and product sales on a country management reported basis.  As a result, the sum of segment sales for International and for Domestic do not tie to the Total Company International and Domestic sales shown above.

**Includes alliance revenue from the co-promotional agreement with Otsuka Pharmaceutical Co., Ltd.

***In excess of 200%

BRISTOL-MYERS SQUIBB COMPANY

EARNINGS BEFORE MINORITY INTEREST AND INCOME TAXES

EXCLUDING SPECIFIED ITEMS

	2002
	Q1 *			Q2 *		Q3 *		Q4 *		TOTAL YEAR *
Reported Earnings Before Minority Interest and Income Taxes	$	1,259		$	752	$	151	$	612	$	2,774
Non-comparable items:
Acquired in-process research and development	160			—		7		2		169
Provision for restructuring/other	89			4		541		93		727
Asset impairment charge	—			—		379		—		379
Gain on sale of businesses/product lines	(30		)	—		—		—		(30		)
Tax issues	—			—		—		—		—
Earnings Before Minority Interest and Income Taxes excluding specified items	$	1,478		$	756	$	1,078	$	707	$	4,019

	2003
	Q1 *			Q2 *			Q3 *			Q4		TOTAL YEAR
Reported Earnings Before Minority Interest and Income Taxes	$	1,120		$	1,217		$	1,303		$	831	$	4,471
Non-comparable items:
Provision for restructuring/other	26			(6		)	55			110		185
Litigation settlement	(21		)	(41		)	(4		)	240		174
Earnings Before Minority Interest and Income Taxes excluding specified items	$	1,125		$	1,170		$	1,354		$	1,181	$	4,830

*Amounts included in reported earnings before minority interest and income taxes have been reclassified to conform to current year presentation.

BRISTOL-MYERS SQUIBB COMPANY

DILUTED EARNINGS PER SHARE FROM CONTINUING OPERATIONS

EXCLUDING SPECIFIED ITEMS

	2002
	Q1			Q2		Q3			Q4		TOTAL YEAR *
Reported Diluted EPS	$	0.43		$	0.25	$	0.17		$	0.19	$	1.05
Non-comparable items:
Acquired in-process research and development	0.05			—		—			—		0.05
Provision for restructuring/other	0.03			—		0.17			0.03		0.22
Asset impairment charge	—			—		0.12			—		0.13
Gain on sale of businesses/product lines	(0.01		)	—		—			—		(0.01		)
Tax issues	—			—		(0.12		)	—		(0.12		)
Diluted EPS excluding specified items*	$	0.50		$	0.25	$	0.34		$	0.24	$	1.33

	2003
	Q1			Q2			Q3		Q4	TOTAL YEAR *
Reported Diluted EPS	$	0.39		$	0.45		$	0.45	0.22	$	1.51
Non-comparable items:
Provision for restructuring/other	0.01			—			0.02		0.04	0.07
Litigation settlement	(0.01		)	(0.01		)	—		0.12	0.10
Diluted EPS excluding specified items*	$	0.39		$	0.44		$	0.47	0.37	$	1.68

* - amounts may not add due to rounding of individual calculations.

BRISTOL-MYERS SQUIBB COMPANY

DEFERRED REVENUE IMPACT ON GROSS SALES

FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2003

($ in millions)

	Q1			Q2			Q3		Q4		December Year-to-Date
Glucophage	$	32.1		$	25.0		$	23.5	$	11.2	$	91.8
Paraplatin	44.5			—			—		—		44.5
Serzone	17.2			17.5			7.3		—		42.0
Plavix	36.8			—			—		—		36.8
Pravachol	35.3			—			—		—		35.3
Sustiva	16.2			12.9			—		—		29.1
Tequin	15.1			11.0			—		—		26.1
Cefzil	22.0			—			—		—		22.0
Monopril	20.5			—			—		—		20.5
Avapro	17.2			—			—		—		17.2
Videx	7.6			4.2			—		—		11.8
Glucophage XR	11.3			—			—		—		11.3
Glucovance	11.0			—			—		—		11.0
BuSpar	5.4			2.7			0.4		—		8.5
TAXOL	7.4			—			—		—		7.4
Zerit	6.8			—			—		—		6.8
Megace	—			1.0			1.4		—		2.4
	306.4			74.3			32.6		11.2		424.5
Less: Deferred discounts	(10.9		)	(5.0		)	—		—		(15.9		)
Total Impact on Gross Sales	$	295.5		$	69.3		$	32.6	$	11.2	$	408.6	*

*amount is further reduced by approximately $88 of sales rebate and return accruals to arrive at an impact on net sales of $321.

BRISTOL-MYERS SQUIBB COMPANY

Other (Income)/Expense Reclass

($ in Millions)

Corporate Overview - Continuing Operations

	September Year To Date 2003
	Reported			Adjustment		Adjusted
Revenues:
Sales	$	15,100				$	15,100
COGS	5,389			106		5,495
SG&A	3,208			81		3,289
Adv. & Promo.	1,157			(12	)	1,145
R&D	1,574			(9	)	1,565
Provision for restructuring	8					8
Litigation settlement	(66		)			(66		)
Equity income from affiliates, net	—			(76	)	(76		)
Other (Inc)/Exp, net	298			(198	)	100
	11,568					11,460
Earnings from Continuing Operations
Before Minority Interest and Income Taxes	3,532					3,640
Provision for income taxes	859			37		896
Minority interest, net of taxes	150			71		221
Earnings from Continuing Operations	$	2,523				$	2,523

	December Year To Date 2002
	Reported			Adjustment		Adjusted
Revenues:
Sales	$	18,119				$18,119
COGS	6,388			122		6,510
SG&A	3,923			49		3,972
Adv. & Promo.	1,295			(4	)	1,291
R&D	2,218			(1	)	2,217
Acquired in-process research & development	169					169
Gain on sale of businesses	(30		)			(30		)
Provision for restructuring	14					14
Litigation settlement	659					659
Asset impairment charge for ImClone	379					379
Equity income from affiliates, net	—			(87	)	(87		)
Other (Inc)/Exp, net	457			(206	)	251
	15,472					15,345
Earnings from Continuing Operations
Before Minority Interest and Income Taxes	2,647					2,774
Provision for income taxes	435			49		484
Minority interest, net of taxes	178			78		256
Earnings from Continuing Operations	$	2,034				$	2,034

BRISTOL-MYERS SQUIBB COMPANY
2004 SPECIFIED  ITEMS EPS IMPACT

	EPS Impact
Estimated Gain on sale of Adult Nutritional Business	$	0.10
Anticipated restructuring/relocation	(0.06		)
Preliminary estimate of charge for in-process research and development from acquisition of Acordis	(0.03		)
Licensing Milestones	(0.01		)
Total	$	—