Investor Update

Basel, 4 August, 2005

Full reconciliation of Chugai results into IFRS

Results of Chugai as consolidated by the Roche Group
Following the publication of Chugai’s official 2005 interim results, Roche offers this investor update which reconciles these results with the results for Chugai published by Roche as part of the Roche Group’s 2005 interim results.

The common stock of Chugai is publicly traded and is listed on the Tokyo Stock Exchange. Chugai prepares financial statements in conformity with accounting principles generally accepted in Japan (JGAAP). These are filed on a quarterly basis with the Tokyo Stock Exchange.

Due to certain consolidation entries and differences in the requirements of International Financial Reporting Standards (IFRS) and JGAAP, there are differences between Chugai’s stand-alone results on a JGAAP basis and the results of Chugai as consolidated by the Roche Group in accordance with IFRS.


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