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Abbott Announces Early Tender Results For Partial Debt Tender Offers And Extends Any And All Debt Tender Offers

ABBOTT PARK, Ill., Nov. 9, 2012 /PRNewswire/ -- Abbott (NYSE: ABT) announced today the results, as of the early tender deadline of 5 p.m., New York City Time, on Nov. 8, 2012 (the "Early Tender Date"), of its previously announced offers to purchase for cash up to an aggregate principal amount of $944,000,000 of its 5.125% Notes due April 2019 (the "2019 Notes"), $472,000,000 of its 4.125% Notes due May 2020 (the "2020 Notes"), $472,000,000 of its 6.15% Notes due November 2037 (the "2037 Notes"), $472,000,000 of its 6.00% Notes due April 2039 (the "2039 Notes") and $590,000,000 of its 5.300% Notes due May 2040 (the "2040 Notes" and, collectively with the 2019 Notes, the 2020 Notes, the 2037 Notes and the 2039 Notes, the "Partial Offer Notes," and each a "Series" of Partial Offer Notes, and such offers, the "Partial Offers"). As of the Early Tender Date, approximately $807.6 million principal amount of the 2019 Notes, approximately $402.2 million principal amount of the 2020 Notes, approximately $452.6 million principal amount of the 2037 Notes, approximately $485.0 million principal amount of the 2039 Notes and approximately $555.6 million principal amount of the 2040 Notes have been validly tendered and not validly withdrawn in the Partial Offers.

The Partial Offers remain open and are scheduled to expire as previously announced, at 11:59 p.m., New York City time, on Nov. 26, 2012, unless extended by Abbott (such date and time, as the same may be extended, the "Partial Offer Expiration Date"). Tenders of Partial Offer Notes are irrevocable after the Early Tender Date unless required by law. Holders who validly tender Partial Offer Notes after the Early Tender Date but at or prior to the Partial Offer Expiration Date that are accepted for purchase will receive the previously announced consideration, which does not include the early tender payment of $30 per $1,000 principal amount.

Subject to the terms and conditions of the Partial Offers, and in light of the applicable tender cap for each Series of Partial Offer Notes (each, a "Series Tender Cap"), Abbott expects to accept for purchase and pay for, later today (the "Early Settlement Date"), approximately $380.7 million principal amount of the 2019 Notes, approximately $189.6 million principal amount of the 2020 Notes, approximately $213.5 million principal amount of the 2037 Notes, approximately $235.1 million principal amount of the 2039 Notes and approximately $262.1 million principal amount of the 2040 Notes, on a pro rata basis, which represents, in the case of the 2019 Notes, the 2020 Notes, the 2037 Notes and the 2040 Notes, approximately 47.2%, and in the case of the 2039 Notes, approximately 48.5%, of the principal amount of such Series validly tendered and not validly withdrawn prior to the Early Tender Date. Abbott has increased the Series Tender Cap for the 2039 Notes from $472.0 million to $485.0 million. Promptly after the Partial Offer Expiration Date, Abbott will accept for purchase and pay for a principal amount of Partial Offer Notes of each Series up to the applicable Series Tender Cap, less any Partial Offer Notes of such Series purchased on the Early Settlement Date (if any), subject to proration as described in the Offer to Purchase (as defined below).

Abbott also announced today that it has extended the expiration date of its previously announced offers to purchase for cash any and all of its outstanding 4.35% Notes due March 2014 (the "2014 Notes"), 2.70% Notes due May 2015 (the "2015 Notes"), 5.875% Notes due May 2016 (the "2016 Notes") and 5.60% Notes due November 2017 (the "2017 Notes" and, collectively with the 2014 Notes, the 2015 Notes and the 2016 Notes, the "Any and All Notes," and such offers, the "Any and All Offers"). The Any and All Notes, collectively with the Partial Offer Notes, are referred to as "Notes." The Any and All Offers and the Partial Offers are collectively referred to as the "Tender Offers." The Any and All Offers are now scheduled to expire at 11:59 p.m., New York City time, on Nov. 9, 2012, unless extended by Abbott (such date and time, as the same may be extended, the "Any and All Expiration Date"). However, withdrawal rights for Any and All Notes tendered in the Any and All Offers have not been extended and therefore expired at 5:00 p.m., New York City Time, on Nov. 8, 2012. Tenders of Any and All Notes are irrevocable after that time unless required by law.

As of 5:00 p.m., New York City time, on Nov. 8, 2012, approximately $157.8 million principal amount of the 2014 Notes, approximately $379.1 million principal amount of the 2015 Notes, approximately $811.0 million principal amount of the 2016 Notes and approximately $624.1 million principal amount of the 2017 Notes have been tendered and not withdrawn in the Any and All Offers.

Subject to the terms and conditions of the Any and All Offers, Abbott expects to accept for purchase and pay for, on Nov. 13, 2012, which is the first business day following the Any and All Expiration Date, all Any and All Notes validly tendered and not validly withdrawn prior to the Any and All Expiration Date.

The Tender Offers are being made pursuant to the Offer to Purchase, dated Oct. 26, 2012 (the "Offer to Purchase") and related Letter of Transmittal, dated Oct. 26, 2012 (the "Letter of Transmittal") previously distributed to holders of the Notes, which set forth a description of the terms of the Tender Offers. This press release is neither an offer to purchase nor a solicitation of an offer to sell securities. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful. The Tender Offers are being made solely pursuant to terms and conditions set forth in the Offer to Purchase and the Letter of Transmittal. 

No Tender Offer is conditioned upon any minimum principal amount of Notes being tendered. However, Abbott's obligation to accept for purchase, and to pay for, Notes validly tendered and not validly withdrawn pursuant to any Tender Offer is subject to, and conditioned upon, the satisfaction of the conditions set forth in the Offer to Purchase.

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