CHICAGO - As the city of Chicago prepares to host BIO 2006, Abbott (NYSE: ABT) announced today it is providing $1 million in funding to enhance science education in the city, by developing a life sciences program for After School Matters (ASM), in cooperation with Renaissance 2010.

These grants will provide an opportunity for the organizations to
collaborate. ASM will create a new after-school science program that will be piloted at one of the new science academies being created by Renaissance 2010.

"Chicago high school students are a rich resource for the future of the global biotechnology sector. Abbott is pleased to provide this grant in support of the students who will ensure the future growth of the industry in this region," said Miles D. White, chairman and chief executive officer, Abbott. "While our business is global, education is a local issue and we recognize the need to invest in communities where our employees, retirees and their families live and work. After School Matters and Renaissance 2010 are excellent models for engaging students in developing their skills for the future."

ASM is a non-profit organization that helps Chicago students pursue both academic and non-academic areas of interest after school, better preparing them for careers and long-term success. Renaissance 2010 is transforming 100 schools in areas where test scores and attendance lag behind the rest of the city. The ASM grant from Abbott will be used to add a science component to the ASM curriculum, which currently offers courses in the arts, technology, sports and communications.

As part of Renaissance 2010, Mayor Richard M. Daley has asked all Chicagoans to roll up their sleeves and take part in a truly grassroots effort to fix some of Chicago's most challenged schools. The Renaissance component of the combined $1 million donation is Abbott's commitment to execute on the Mayor's call to action.

Abbott will work with ASM and the Renaissance 2010 programs to design, equip and staff an innovative program for science education, including updated laboratories and new equipment, after-school instruction and mentoring with practicing scientists.

Abbott's support and commitment goes beyond the purely financial; the company also will provide intellectual support. Abbott scientists will help teach students enrolled in these programs, giving Chicago teens an unprecedented opportunity to receive hands-on training from scientists who are researching and developing cutting-edge medical innovations and life-saving products. The new life science program will actively engage Chicago's students with the city's growing science and technology sector, nurturing a strong intellectual curiosity and talent for science.

"There are students in the city of Chicago today with the potential to make a discovery that launches an entire industry and spawns countless new medical innovations," continued Mr. White. "We just need to inspire and support that potential in these students. Young minds are naturally curious about the world around them. This donation of financial and intellectual capital will help us ignite that curiosity."

"We are pleased to have Abbott's support and expertise to create a life sciences program for Chicago teens," said Maggie Daley, chair, After School Matters. "Teaching science and math skills is critical when preparing teens for their future. With Abbott's support, we will be able to expand our programming, while cultivating the scientists and innovators of tomorrow who will support the growing biotech industry in Chicago."

"This grant is really an investment in our collective future. It will help create great new schools in Chicago that will produce the kind of students who can one day grow up and lead companies like Abbott," said Arne Duncan, CEO, Chicago Public Schools.

About After School Matters and Renaissance 2010
After School Matters programs engage teens in hands-on, interactive activities led by skilled professionals in the arts, technology, sports, communications and more. Programs range from drop-in club activities through skill-building apprenticeships to paid internships along a ladder of opportunity.

The goal of Renaissance 2010 is to turn around Chicago's most challenged elementary and high schools by transforming 100 schools in neighborhoods across the city, providing new educational options to underserved communities and relieving school overcrowding in communities experiencing rapid growth. Renaissance 2010 is the organization that serves as the partner in fundraising, strategy and accountability for Renaissance 2010.

About Abbott
Abbott is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs 60,000 people and markets its products in more than 130 countries.

Abbott's news releases and other information are available on the
company's Web site at www.abbott.com.

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About Abbott and the Abbott Fund

The Abbott Fund is a philanthropic foundation established by Abbott in 1951. The Abbott Fund's mission is to create healthier global communities by investing in creative ideas that promote science, expand access to health care and strengthen communities worldwide. For more information, visit www.abbottfund.org.

Abbott is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs nearly 90,000 people and markets its products in more than 130 countries. Abbott's news releases and other information are available on the company's website at www.abbott.com.

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