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Astellas Announces Changes To Director Nominees For Election To OSI Pharmaceuticals' Board Of Directors

TOKYO, March 19 /PRNewswire/ -- Astellas Pharma Inc. (TSE: 4503) today notified OSI Pharmaceuticals Inc. (Nasdaq: OSIP) that John D. Gilly, Ph.D. and Margaret T. Monaco will replace Jack Kaye and Heidi L. Steiger on the slate of directors Astellas plans to nominate for election to OSI Pharmaceutical's board of directors at OSI's 2010 annual stockholders' meeting.

Astellas is committed to providing an independent voice for OSI stockholders who want its board of directors to consider Astellas' compelling $52 per share all-cash offer for OSI.

Dr. Gilly currently serves as an Associate Director in the Biopharmaceutical Development Program with SAIC-Frederick, Inc., at NCI-Frederick, Inc., a federally funded research and development center focused on oncology.  Prior to joining SAIC-Frederick, Inc., he served as a director and Chief Operating Officer of Premier Research Group, plc, a U.K.-based publicly traded research organization that provides clinical trial services to biopharmaceutical and medical device companies, from 2006 through 2007, and as president of Premier Research Group's U.S. operations from 2002 through 2006.

Margaret T. Monaco is the Principal of Probus Advisors, a financial and strategic consulting firm.  She currently sits on the board and is a member of the audit committee of Barnes & Noble, Inc.  Ms. Monaco has also served as an independent director and member of the audit committee of W.P. Stewart & Co. Growth Fund, Inc. and is a former Chief Operating Officer of Merrill Lynch Ventures, LLC / KECALP Inc.

The highly qualified, full slate of independent directors proposed by Astellas is composed of Martin Edelshain, Cono R. Fusco, Michael A. Griffith, John D. Gilly, Jill Kanin-Lovers, Douglas E. Linton, Timothy P. Lynch, Jonathan R. Macey, Margaret T. Monaco and Joseph L. Turner.

Citigroup is acting as exclusive financial advisor to Astellas and Morrison & Foerster LLP is acting as legal counsel.

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