Icahn Responds to Cook and Wilson(h as the Stratosphere Casino which I hel...),Health

Date:4/21/2009

h as the Stratosphere Casino which I held for 7 years. I invested $300 million into the company and received $1.3 billion. I also sold ImClone for $70 per share (which I had accumulated at an average cost of about $33 per share). I negotiated that $70 per share price after urging that ImClone turn down an unsolicited bid in the high $30's and even the Bristol $60 and $62 bids. I say this to you not to boast but to make the point that I do not sell cheaply and would certainly not recommend selling Amylin unless we were offered at least over $30 per share, at which time I might recommend selling it. As I pointed out in our "rather heated" conversation, it seemed to me that your sale of stock in and above the high $30's was among the very few intelligent things you did in your tenure at Amylin.

Concerning cost cutting, I stated you appear to overspend in many areas and that possibly that is related more to your ego then to enhancing stockholder value. I told you if we were on the board we would bring in experts that would ascertain how much waste there was and would also take a very hard look at any contracts, if they existed, with other firms you were involved with.

For a number of years I have had conversations with CEOs and Chairmen, often over a crucial weekend, in order to end or avoid a "debilitating" proxy fight, as you have characterized what is going on at Amylin. Often these conversations have become "heated." However, never until today has either side found it necessary to slant and misstate these conversations and then release these misstatements on Monday morning.

I will end by asking once again, do you intend to keep your word and set up the three way meeting between the company, Eastbourne and Icahn as you promised you would or was your statement of Friday just another empty promise?

Sincerely,

Carl Icahn

(1) The records show you sold sto
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