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Investor Update

Basel, 31 July 2006

Full reconciliation of Chugai interim results into IFRS


Results of Chugai as consolidated by the Roche Group
Following the publication of Chugai’s official 2006 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 2006 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 financial results on a JGAAP basis and the financial results of Chugai as consolidated by the Roche Group in accordance with IFRS. For further information please refer to Note 4 of the Roche Half-Year Report 2006.

Please do not hesitate to contact us if you have any further questions.

Reconciliation of Chugai interim results