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Wyeth Announces Full Redemption of $2 Convertible Preferred Stock
Date:4/23/2009

fizer") is completed pursuant to the Agreement and Plan of Merger (the "Merger Agreement") dated January 25, 2009, upon the completion of the merger, each share of Common Stock will be converted into the right to receive $33.00 in cash plus 0.985 of a share of Pfizer common stock, subject to adjustment in limited circumstances. On April 22, 2009, the closing price of Pfizer's common stock on the NYSE was $13.04 per share.

Considering the number of shares of Common Stock into which each share of Convertible Preferred Stock is convertible as compared to the redemption price of $60.08 for each share of Convertible Preferred Stock, Wyeth expects the holders of all or substantially all of the Convertible Preferred Stock will elect to convert their shares into Common Stock prior to the Redemption Date.

Wyeth is redeeming the Convertible Preferred Stock pursuant to a request from Pfizer made in accordance with the terms and conditions of the Merger Agreement, although the redemption is not in any way contingent upon the closing of the merger. A Notice of Redemption, which will describe the redemption procedures as well as the fact that holders may elect to convert their Convertible Preferred Stock into Common Stock prior to the Redemption Date, will be sent no later than June 15, 2009 by Wyeth to all record owners of Convertible Preferred Stock. Additional information related to the procedures for redemption, including copies of the Notice of Redemption following its distribution, may be obtained from BNY Mellon Shareowner Services by calling (800) 777-3674.

About Wyeth

Wyeth is one of the world's largest research-driven pharmaceutical and health care products companies. It is a leader in the discovery, development, manufacturing and marketing of pharmaceuticals, vaccines, biotechnology products, nutritionals and non-prescription medicines that improve the quality of life for people worldwide. The Co
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