Forward-looking Statement

Information for the "Educated" Investor

There are "ups" and "downs" in practically every business, stock and market. Although there are no guarantees about the stock market or Schering-Plough stock, before you invest in any security, you can help protect yourself by being an educated investor. If you are interested in Schering-Plough stock, we recommend that, at a minimum, you read our latest annual report and 10-K, 10-Q and 8-K reports to the SEC over the past year. Our recent proxy statements for shareholder meetings also contain important information. It is advisable to learn more about us and our industry through a variety of public materials. Our recent SEC filings are accessible through this Web site or the SEC's Web site. You can also visit the SEC at its Washington or various regional offices for the same information.

Cautionary Factors That May Affect Future Results

Materials in this Web site contain information that includes or is based upon forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Forward-looking statements relate to expectations or forecasts of future events. You can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of similar meaning in connection with a discussion of potential future events, circumstances or future operating or financial performance. In particular, these include statements relating to future actions, prospective products or product approvals, future performance or results of current and anticipated products, sales efforts, expenses, the outcome of contingencies such as legal proceedings, and financial results.

Any or all of our forward-looking statements here or in other publications may turn out to be wrong. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Many such factors will be important in determining our actual future results. Consequently, no forward-looking statement can be guaranteed, and forward-looking statements may be adversely affected by factors, including general market conditions, competitive product development, product availability, current and future branded and generic competition, federal and state regulations and legislation, manufacturing issues, timing of the elimination of trade buying, patent positions, litigations and investigations. Our actual results may vary materially, and there are no guarantees about the performance of Schering-Plough stock.

It is also important to read the disclosure notice contained in many of the individual Schering-Plough documents available on this Web site as many contain important information on such cautionary factors as of the date of the individual document.

We undertake no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our reports to the SEC. In particular, you should read the discussion in the section entitled Cautionary Factors That May Affect Future Results, in our most recent 10-K report to the SEC, as it may be updated in our subsequent 10-Q and 8-K reports. That discussion covers certain risks, uncertainties and possibly inaccurate assumptions that could cause our actual results to differ materially from expected and historical results. Other factors besides those listed there could also adversely affect the Company. That discussion is provided as permitted by the Private Securities Litigation Reform Act of 1995.