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 "THE FOLLOWING SCRIPT WAS USED BY PFIZER INC. AND PHARMACIA CORPORATION DURING
                       A CONFERENCE CALL ON JULY 15, 2002"

                           SCRIPT FOR CONFERENCE CALL
                               (PFIZER/PHARMACIA)
                   11:00 A.M. - 12:30 PM, MONDAY, 15 JULY 2002

             [AT 11:00 AM, THE OPERATOR WILL ANNOUNCE THE BEGINNING
              OF THE CONFERENCE CALL AND INTRODUCE "DR. MCKINNELL"]

HANK MCKINNELL:

Good morning. I'm Hank McKinnell,  Chairman and CEO of Pfizer, speaking from our
Board  Room in New York  City.  We  welcome  you to this  call to  discuss  this
morning's news.

With me today is Fred Hassan,  Chairman and Chief Executive Officer of Pharmacia
- - as well as senior executives from Pfizer, including: David Shedlarz, Executive
Vice  President and CFO;  Karen Katen,  Executive  Vice President and President,
Pfizer  Pharmaceuticals  Group; Peter Corr, Senior Vice President of Science and
Technology; and Jeff Kindler, Senior Vice President and General Counsel.

This morning,  Pfizer and Pharmacia announced a definitive  agreement for Pfizer
to acquire Pharmacia in a stock-for-stock transaction.

During this  conference call - we will discuss this  transaction,  our plans and
timetable for its implementation,  and the opportunities it offers to expand our
business and increase  shareholder  value.  And then, we will be happy to answer
questions.

We will also take any questions about our Second Quarter earnings release which,
because of this transaction,  we issued this morning ... instead of on Wednesday
of this week, as originally announced.

And, I should also note that we will be having an analysts'  meeting in New York
on Wednesday morning in order to provide additional information on both of these
topics. Invitations for that meeting are being sent out as we speak.

First, a few initial comments about the transaction -

These are challenging times in our industry..,  not only for  shareholders,  but
for all of us.  Nonetheless,  as our results  demonstrate,  we have continued to
succeed - and have done so while many others in the industry have stumbled.

With this  transaction,  we will further enhance our leadership  position in the
industry by combining  two of the fastest - growing and most  innovative  global
pharmaceutical companies.

Plus - the  transaction,  we  believe,  will  provide  substantial  benefits  to
shareholders  of both  companies  - in terms of improved  financial  returns and
accelerated earnings growth.

On a combined basis, we will have annual revenues for 2002 of approximately  $48
billion,  including  approximately  $39 billion in  prescription  pharmaceutical
sales.




And - our strategic fit is excellent. The combination brings together two young,
broad and complementary  product  portfolios;  enhanced research and development
pipelines; and outstanding sales and marketing organizations.

With this acquisition,  we are positioning ourselves for long-term leadership in
a rapidly changing pharmaceutical industry.

Looking  ahead - advances in medical  understanding  will increase the number of
drug discovery targets and create major  opportunities  for Pfizer.  But, at the
same  time,  it is  becoming  increasingly  costly  to fund  the  high-risk  and
long-term  research that will be necessary.  And, that is occurring while payers
and providers are increasingly demanding lower costs.

By combining with Pharmacia - we are ensuring that our core  capabilities in the
discovery,  development  and  commercialization  of new  medicines are uniformly
strong and efficient around the world.

With  Pharmacia,  we will have a product  portfolio  unequalled in its strength,
depth and patent  protection;  an even  stronger new product  pipeline;  and the
scale to  spread  our  products  and R&D  across a  global  marketing  platform,
capitalizing on growth opportunities everywhere in the world.

But, equally important, we will be better able to serve the millions of patients
that depend on us worldwide.

Our  expanded  capabilities  will  ensure  that  patients  around the world will
continue to benefit from our skill in developing therapies for cancer,  obesity,
cardiovascular disease,  infectious diseases, mental illness, blindness and many
other serious medical conditions.

Simply put, Pfizer and Pharmacia are much stronger together than separately.

We are  especially  pleased to be merging with a company that,  like Pfizer,  is
known as an innovator and leader in our industry.  We know Pharmacia  well. And,
we have  the  greatest  respect  for  the  company,  its  people,  and its  many
accomplishments.

Working  together,  we have introduced  Celebrex and Bextra for the treatment of
arthritis  ...  and  have  done so with  great  success.  It has been a good and
productive  partnership.  And now,  we are  looking  forward to building on that
relationship.

In the end - this transaction is about creating value ... for patients and their
physicians, for payors, and for shareholders ... by helping us do what we do ...
better and more effectively.

As a result of today's  announcement,  we can look  forward to  significant  and
exciting growth opportunities.

For example - with unified leadership,  we can do more with the COX-2 franchise.
We can reinforce the promotion of key current  Pharmacia  products with Pfizer's
larger,  and highly  respected,  sales  force.  We will have the  capability  to
accelerate product launches,  maximize the potential of those new products,  and
do so with an expanded global reach.

At the same time - we have  unique  opportunities  to  reduce  many of the risks
inherent in our business.

Together,  we will  each have even less  dependence  on our  respective  leading
products.  We will be able to diversify into new therapeutic  categories.  And -
importantly  -  we  will  significantly  reduce  any  intermediate-term   patent
expiration exposure.




In sum - this is a major step forward for both Pfizer and Pharmacia ... one that
will keep us at the forefront of medical innovation for the foreseeable future.

With those introductory comments - I'm now pleased to introduce the Chairman and
CEO of Pharmacia, the Chairman of PhRMA, and my good friend ... Fred Hassan.

FRED HASSAN:

Thank you, Hank - and good morning everyone.

Combining Pharmacia with Pfizer is indeed a compelling strategic opportunity.

The competitive landscape in global pharmaceuticals is changing rapidly - and is
increasingly  differentiating  successful companies from those who are not. And,
this transaction  immediately creates a global  pharmaceutical  company with all
the resources and capabilities to excel in such a challenging environment.

The company that will emerge from this  transaction  will be the clear leader in
the  pharmaceutical  industry for many years to come.  The  combination of broad
research and development capabilities, a rich pipeline, the largest sales force,
and the most impressive product portfolio in the industry will drive growth well
beyond what either company could have achieved separately.

In evaluating our alternatives,  we at Pharmacia had become  increasingly  aware
that we simply did not have sufficient resources to fully leverage the growth of
our  current  in-line  products  ...  while,  at  the  same  time,  funding  the
development of our pipeline.

It is important to emphasize  that  Pharmacia  will be bringing its resources to
the table from Day One.  As Hank has so  correctly  noted,  our  Celebrex/Bextra
partnership has been extraordinarily  successful.  As we've come to know Pfizer,
it has become increasingly clear that our companies are truly an excellent fit.

Pharmacia  shareholders  will  receive not only an  immediate  premium for their
shares,  but will have the  opportunity  to  participate  in Pfizer's  long-term
growth ... as it leverages a strengthened product line and pipeline.

I am personally  committed to making this  transaction  work, and to insure that
value creation does not end with this agreement.

As we move toward closing,  all of us will be identifying,  and refining,  those
steps required for a seamless integration process.

HANK MCKINNELL:

Thank you, Fred.

We look  forward to working  even more  closely  with you and your team over the
coming months.  And, I greatly  appreciate  your  willingness to work with me in
making this merger and integration a success.

I'll now ask David  Shedlarz to review our financial  performance  and highlight
the terms of the agreement  announced this morning.  He will then be followed by
Karen Katen and Peter Corr.

DAVID SHEDLARZ:

Thank, you, Hank, and good morning, everyone.




Although  I  assume  that  your  principal  interest  this  morning  is  in  the
transaction  - I  would  like to  take a few  minutes  to  review  with  you our
financial  results for the first half of 2002.  And then, I will  highlight  the
financial aspects of our announced acquisition of Pharmacia.

The solid P&L performance that has characterized Pfizer continued in the first
half of 2002. Excluding the impact of foreign exchange and a 2001 accounting
harmonization for Medicaid and contract rebates - total company revenue for the
first half grew 11%. Human pharmaceutical revenue, on this same basis, was up
12%.

Product  support and R&D investment  continued to be strong.  Our R&D investment
for the first half totaled $2.4 billion - which we expect to lead the industry.

And, in the first half,  income and diluted  earnings per share from  continuing
operations  -  excluding  the  cumulative  effect  of  a  change  in  accounting
principle,  certain  significant items and  merger-related  costs - grew 12% and
14%, respectively.

First half  revenue  growth was solid  across all of Pfizer's  core  businesses.
Human  pharmaceuticals,  animal  health and  consumer  healthcare  all  achieved
double-digit operational revenue growth.

Human pharmaceutical revenue growth in the first half was driven by 8 products -
representing  79% of our  total  human  pharmaceutical  revenues  - that  grew a
combined 15%.

Pfizer's  gross margin also continued to improve in the first half - with only a
1% increase in cost of sales.

Looking  forward to the second half - we expect  strong EPS  growth,  benefiting
from the unusual  quarterly  pattern of expenses in 2001 and a favorable  impact
from foreign  exchange.  While we expect expense  comparisons  against the prior
year to  continue to be  challenging  in the third  quarter - we now  estimate a
year-over-year decline in expenses in the fourth quarter.

Ongoing productivity initiatives and additional merger-related cost savings from
the Warner-Lambert  merger will continue to drive profit margin improvement.  We
now expect cost  savings  from the  Warner-Lambert  merger to be $1.8 billion by
year-end  2002,  exceeding  our  original  estimate  by $200  million.  And - we
anticipate our R&D investment will reach about $5.2 billion, an industry-leading
level. Additionally,  we forecast a reduction in our effective tax rate to 23.5%
for the full year.

We have refined our estimate of diluted EPS - excluding the cumulative effect of
a change in accounting principle,  certain significant items, and merger-related
costs, to $1.58,  21% growth over the prior year and within the range of earlier
guidance.  On a stand-alone basis from 2002 to 2004,  Pfizer expects  compounded
revenue growth of 11% and diluted EPS growth of 16%.

In sum - as a stand-alone  entity,  Pfizer's financial  prospects were, and are,
very bright.

Now - turning to the announced transaction....

As outlined in this morning's press release, the key terms of our agreement with
Pharmacia are as follows:

     - After  Pharmacia's  spin-off to its  shareholders  of its  remaining  84%
     interest in  Monsanto,  Pfizer will  exchange  1.4 shares of Pfizer  common
     stock  for  each  outstanding  share of  Pharmacia  stock.  This  will be a
     tax-free transaction,  valued at $45.08 per Pharmacia share or $60 billion,
     based on Pfizer's July 12th



     closing price of $32.20. This represents a 44% premium, based on the
     average closing prices of the two stocks over the last 30 days, adjusted
     for the Monsanto spin-off.

- - Upon  completion,  Pfizer's  shareholders  will own  approximately  77% of the
combined company and Pharmacia's shareholders will own approximately 23%.

- - The transaction is expected to close by year-end 2002, subject to the approval
by  shareholders of both companies,  and customary  governmental  and regulatory
approvals.

Excluding the effects of purchase  accounting and merger-related  expenses,  the
transaction  is expected to be  non-dilutive  to Pfizer's 2003 adjusted  diluted
earnings per share (with adjusted  earnings  defined as net income in accordance
with  Generally  Accepted  Accounting  Principles  in the  U.S.,  excluding  the
write-off of in-process R&D, amortization of intangibles, effect of the write-up
of assets to fair value,  non-recurring  costs,  certain  significant  items and
merger-related costs.) And the transaction will be accretive to adjusted diluted
earnings per share in 2004 and thereafter.

As a result of the transaction,  Pfizer will have  significantly  enhanced scale
and financial flexibility.  The company will have combined annual revenues, on a
pro-forma  basis, of $48 billion in 2002,  growing on a compound annual basis by
10% to nearly $58 billion in 2004.  Adjusted  earnings,  on a pro-forma basis in
2002, will be $11.9 billion, growing on a compound annual basis by 19% to nearly
$17 billion in 2004.

We expect to achieve  substantial  synergies in this  combination,  arising from
increased  purchasing power of the combined  entity,  the reduction of operating
expenses and the closure of redundant facilities.  We are targeting $1.4 billion
in synergies in 2003,  increasing  to $2.2 billion in 2004,  and $2.5 billion in
2005. Our experience during the  Warner-Lambert  integration,  which resulted in
the  realization  of  synergies  more  quickly and of a greater  magnitude  than
originally  foreseen,  gives us strong  confidence  in our ability to meet these
merger-related cost savings.

Indicative  of the  exceptional  financial  strength  of the  company,  we  have
expanded our previously  announced stock buyback program from $10 billion to $16
billion. This larger program is expected to be completed in 2003.

Earlier this morning - reflective  of the  powerful  operational  and  financial
profile of the combined  company - Standard & Poor's and Moody's  confirmed  our
Triple A long term debt ratings and A-1+/P-1 short-term debt ratings.

And now, it's my pleasure to introduce Karen Katen, President of Pfizer's global
pharmaceuticals business.

KAREN KATEN:

Thank you, David.

Today,  Pfizer is the  leading  pharmaceutical  company in the world with global
sales  that  well  exceed  our  closest  competitor.  With  the  acquisition  of
Pharmacia,  we  significantly  enhance our position of industry  leadership  and
strength.

Beyond scale,  the  acquisition of Pharmacia  provides us with access to new and
medically  important  categories.  In  addition,  we will move from our  current
fourth  position in terms of sales  rankings  in Europe to first,  from third to
first in Japan, and from fifth to first in Latin America.

Currently, Pfizer's product portfolio has significant breadth and depth across a
number of key  categories,  with eight billion dollar  products in 2001 - and at
least that many  expected in 2002 - the number one  therapies in




cardiovascular   disease,    cholesterol,    anti-infective,    depression   and
arthritis/pain.  The  combination  of Pfizer and Pharmacia will create a company
with an unparalleled product portfolio - 14 number one products.

But, this  acquisition  is not just about adding  products,  it's also about the
complementary  nature  of  our  respective  portfolios.   Pharmacia  will  bring
innovative  new  therapies  to  our  cardiovascular,   CNS,  and  anti-infective
platforms,  where we can  optimize our industry  leading  medical-marketing  and
sales expertise, as well as our solid customer relationships.

In areas  where we don't have a  presence,  Pharmacia  brings us  products  that
immediately  provide  a  platform  for  incremental  growth,  as  well as a base
platform for launch of the Pfizer near and  longer-term  pipeline  products.  In
ophthalmology,  Xalatan from  Pharmacia  lowers eye ocular  pressure in patients
with   open-angle   glaucoma,   not  controlled  by  other   medications.   This
revolutionary  treatment for glaucoma is now the leading ophthalmic prescription
medicine in the world.

In oncology,  Pharmacia's current franchise includes  Camptosar,  the first-line
treatment  for  colorectal  cancer,  as well as Ellence and  Aromasin for breast
cancer.  Aromasin was approved just last week in Japan.  These products combined
with our own  oncology  pipeline  will  ultimately  give us a  presence  in this
medically important therapeutic category.

A highlight  for the future is  Pharmacia's  future agent for  hypertension  and
potentially heart failure, eplerenone, with the first launch expected in 2003.

As you all know, one of the most important  components of Pharmacia is the COX-2
franchise. Together, through our partnership, Pfizer and Pharmacia have built an
impressive  track  record in the  COX-2  area - first  with the most  successful
launch in the pharmaceutical industry of Celebrex, followed by the recent launch
of Bextra.

In 1999, Pfizer and Pharmacia jointly introduced the anti-inflammatory Celebrex,
the  first-in-class  COX-2  inhibitor.  This medicine has become the  number-one
branded  treatment for arthritis in the world and it has been prescribed to more
than 35 million  patients.  With its recent  approval in the U.S. for acute pain
and dysmenorrhea,  Celebrex has the most complete range of approved  indications
among COX-2 inhibitors on the market today.

Over 6,000 Pfizer and Pharmacia sales  representatives  began promoting a second
COX-2 inhibitor, Bextra, in April.

Bextra  is  approved  for the  treatment  of  osteoarthritis,  adult  rheumatoid
arthritis and the pain associated with menstrual cramping.

Together,  Celebrex and Bextra now account for 23.6% of new NSAID prescriptions,
growing 26% since January. During the same January to May period, Vioxx share of
new prescriptions declined by 14% to a market share of 16.0%.

Further fueling the growth of our COX-2 franchise are the launches of Bextra and
Dynastat (the first  injectable  COX-2  inhibitor) in a number of  international
markets. Pharmacia is currently seeking FDA approval for Dynastat in the U.S.

The  acquisition  will allow Pfizer to better  utilize our strengths and address
the challenges in the COX-2 category through:

     - Complete alignment and full execution of high performance strategies;




     - Increased speed and sharpened focus of a single management team;

     - Effective  investment in clinical development projects while we eliminate
     overlap in field and marketing efforts.

Additionally,  there are several factors we expect could drive continued  growth
in this category:

     - The large number of undiagnosed and untreated patients;

     - The  continuing  large  market  share of NSAIDs  and the large  number of
     dissatisfied NSAID patients;

     - The delayed entry of Merck's Arcoxia;

     - Celebrex's recently approved pain indication.

Beyond the advantage of portfolio  enhancement,  future patent protection,  on a
combined  basis,  is also a positive  factor to  consider  in this  acquisition.
Pfizer's  major  products  are  patent-protected  to the end of this  decade and
beyond.  For example,  the U.S.  patents for Lipitor and Viagra run through 2010
and 2011, respectively. Pharmacia patents also expire mostly after 2010.

All in all - this is a unique opportunity to build on our strengths, enhance our
growth and reinforce our commitment to serving customers and patients worldwide.

I am enthusiastic  about the many productive  opportunities - only some of which
we've highlighted this morning - that will be made possible by this acquisition.

And now,  Peter Corr,  Head of Science and  Technology ... will comment from the
research and development perspective.

PETER CORR:

Thank you, Karen.

Pfizer  alone has a broad and robust R&D pipeline  that  contains 68 new product
enhancements  plus  94 new  molecular  entities  - for a  total  of 162  ongoing
projects in development. And we have over 300 projects in worldwide discovery.

We have five new chemical entities  recently  approved or undergoing  regulatory
review in the U.S. and/or the European Union: Vfend; Geodon;  Bextra (discovered
and developed by  Pharmacia);  Spiriva  (discovered  and developed by Boehringer
Ingelheim);  and  Relpax.  All five  products,  by the way,  are  expected to be
launched in new markets this year.

And, Pfizer anticipates  completing regulatory filings in 2002 for pregabalin in
neuropathic pain, epilepsy,  generalized anxiety disorders;  and darifenacin for
use in treating overactive bladder.

In addition, advanced-stage clinical studies are continuing for, among others:

     -   Exubera,   an   inhalable   form  of  insulin   under   co-development,
     co-manufacture,  and co-marketing  with Aventis,  with the participation of
     Inhale  Therapeutic  Systems,  for the  treatment of both type 1 and type 2
     diabetes;




     - and the dual therapy combining  Lipitor and Norvasc,  the world's leading
     cholesterol-lowering and antihypertensive medicines.

To that - one can now add  Pharmacia's  strong  late-stage  pipeline,  including
candidates such as epleronone for  hypertension  and heart failure,  and CDP-870
for  rheumatoid  arthritis,  which both  complement  Pfizer's  existing  product
portfolio.  The  result:  we will be able to better  utilize our  worldwide  R&D
strength against a broader range of high-potential compounds.

As mentioned  by Karen - we will also expand our  presence in major  therapeutic
categories,  including  the  addition  of a strong  oncology  and  ophthalmology
commercial  business  to the two  companies'  existing  R&D  programs  in  these
important therapeutic areas.

This expansion of our therapeutic  range is an important  opportunity.  Pfizer's
global scientific and medical infrastructure puts us in an excellent position to
capitalize on the many exciting opportunities we anticipate in this great era of
scientific  discovery.  These include the emergence of new genetic knowledge and
the application of new technologies,  not only in discovery but also in clinical
research.

Currently,  Pfizer  expects  to  file  15  new  drug  applications  with  global
regulatory authorities over the next four-and-a-half years. Based on our current
assessment of Pharmacia's  late stage  pipeline,  we anticipate 5 to 7 major New
Chemical Entity filings from 2002 through 2004.

These include treatments for cardiovascular disease, CNS disorders, eye disease,
and  arthritis.  At the present time,  Pharmacia  has 18 NCEs in human  clinical
studies with  additional  NCEs moving toward initial  clinical  studies over the
next 6 to 12 months.

From my perspective - the research  platform for Pfizer  combined with Pharmacia
is nothing less than  extraordinary  ... with breadth and depth across all major
therapeutic categories.

For 2002,  Pfizer  expects  to invest  about $5.2  billion in R&D and  Pharmacia
expects to invest $2.3 billion.  This means that the companies' current combined
R&D investment for 2002 exceeds $7 billion - exceeding our nearest competitor by
about 50 percent.

And,  with the  integration  of  Pharmacia,  Pfizer  will  have an R&D  pipeline
containing nearly 120 new molecular entities in development ...plus well over 80
distinct   development   projects  for  product   enhancements,   including  new
indications. Overall, this results in nearly 200 ongoing development projects.

This  transaction  will also permit Pfizer  financial  flexibility  essential to
sustained growth.  We will be able to expand our discovery  capabilities and, at
the same  time,  to  adequately  fund our  growing  late stage  pipeline  with a
doubling of phase 3 programs over the next 15 months.

And now - back to Hank.

HANK MCKINNELL:

Thank you, Peter...

For the past decade,  Pfizer has consistently  delivered strong performance.  At
the same time - we have  continued to look for  innovative  ways to move 'beyond
number  one' ...  to become  the most  valued  company  in the world for all our
constituencies, including investors.

Today's agreement is an important milestone in our pursuit of that objective ...
and in Pfizer's 153-year history.




A decision of this magnitude occurs only after very careful consideration by all
involved. I can assure you that this is truly a strategic acquisition - one that
creates a "new  standard,  for a new era" - and  lasting  value for  Pfizer  and
Pharmacia shareholders.

And now, we will take questions from those analysts covering Pfizer....

[Q&A PROCEDURES:  THE OPERATOR WILL THEN ANNOUNCE:  "YOUR FIRST ANALYST QUESTION
IS FROM [NAME] OF [FIRM]." AFTER COMPLETION OF EACH Q&A, HANK MCKINNELL WILL SAY
"NEXT  QUESTION,  PLEASE" AND THE OPERATOR  WILL  INTRODUCE THE  QUESTIONER.  TO
SIGNAL  THE LAST  QUESTIONER,  HANK  MCKINNELL  WILL SAY:  "AND NOW FOR OUR LAST
QUESTION."]

HANK MCKINNELL:

With that question - we conclude  today's  conference  call. Thank you for being
with us on this very special and exciting occasion.




                              SAFE HARBOR STATEMENT

Certain statements contained in this document are "forward-looking statements"
provided under the "safe harbor" protection of the Private Securities Litigation
Reform Act of 1995. These statements are made to enable a better understanding
of the Company's business, but because these forward-looking statements are
subject to many risks, uncertainties, future developments and changes over time,
actual results may differ materially from those expressed or implied by such
forward-looking statements. Examples of forward-looking statements are
statements about anticipated financial or operating results, financial
projections, business prospects, future product performance, future research and
development results, anticipated regulatory filings and approvals, and other
matters that are not historical facts. Such statements often include words such
as: "believes", "expects", "anticipates", "intends", "plans", "estimates", or
similar expressions.

These forward-looking statements are based on the information that was currently
available to the Company, and the expectations and assumptions that were deemed
reasonable by the Company, at the time when the statements were made. The
Company does not undertake any obligation to update any forward-looking
statements in any communications of the Company, whether as a result of new
information, future events, changed assumptions or otherwise, and all such
forward-looking statements should be read as of the time when the statements
were made, and with the recognition that these forward-looking statements may
not be complete or accurate at a later date.

Many factors may cause or contribute to actual results or events being
materially different from those expressed or implied by such forward-looking
statements. Although it is not possible to predict or identify all such factors,
they may include the following: competition for our products; pharmaceutical
pricing, price constraints and other restrictions on the marketing of products
imposed by governmental agencies or by managed care groups, institutions and
other purchasing agencies; product discovery and approval; product recalls or
withdrawals; manufacturing quality issues with respect to our products;
compliance with Current Good Manufacturing Practices and other quality
assurance guidelines; the company's ability to secure and defend its
intellectual property rights; product liability claims, antitrust litigation,
environmental concerns, and commercial disputes; social, legal, political and
governmental developments; changes in foreign currency exchange rates or in
general economic or business conditions including inflation and interest rates;
acquisitions, divestitures, mergers, restructurings or strategic initiatives
that change the Company's structure; business combinations among the Company's
competitors and major customers; changes to accounting standards or GAAP.

Readers are also urged to carefully review and consider the disclosures in
Pharmacia's various SEC filings, including but not limited to Pharmacia's Annual
Report on Form 10-K for the year ended December 31, 2001, and Quarterly Report
on Form 10-Q for the quarterly period ended March 31, 2002.

This release may be deemed to be solicitation material in respect of Pfizer's
proposed merger with Pharmacia. Pfizer will be filing a registration statement
on Form S-4, containing a joint proxy statement/prospectus for Pfizer and
Pharmacia, and other documents with the Securities and Exchange Commission
("SEC"). INVESTORS AND SECURITYHOLDERS ARE URGED TO READ THE REGISTRATION
STATEMENT CONTAINING THE JOINT PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT
DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC WHEN THEY BECOME AVAILABLE
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and securityholders
will be able to receive the registration statement containing the joint proxy
statement/prospectus and other documents free of charge at the SEC's web site,
www.sec.gov or from Pharmacia Investor Relations at 100 Route 206 North,
Peapack, New Jersey 07977. Pharmacia and its directors and executive officers
and other members of management and employees may be deemed to be participants
in the solicitation of proxies in respect of the proposed transaction.
Information regarding the interests of Pharmacia's directors and executive
officers in the proposed merger will be included in the final joint proxy
statement/prospectus.