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Johnson & Johnson Announces Settlement With U.S. Department of Justice and U.S. Securities and Exchange Commission
Date:4/8/2011

iance efforts, and we are committed to doing everything we can to ensure this does not occur again."

Today's settlement also resolves an investigation of Johnson & Johnson subsidiary companies in the United Nations Oil for Food Program, which was not disclosed by the Company to the DOJ and SEC.  A U.N.-commissioned report related to the Oil for Food Program alleged that more than 2,000 companies worldwide acquiesced to the Iraqi government's demands between 2001 and 2003 that they pay a ten percent fee as a condition of importing humanitarian goods into the country.  

Mr. Weldon added, "I know that these actions are not representative of Johnson & Johnson employees around the world who do what is honest and right every day, in the conduct of our business and in service to patients and customers worldwide.  We will continue to demonstrate that Johnson & Johnson is a company that embraces responsible corporate behavior."

(This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995.  These statements are based on current expectations of future events.  If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Johnson & Johnson's expectations and projections.  Risks and uncertainties include general industry conditions and competition; economic conditions, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; domestic and foreign health care reforms and governmental laws and regulations; and trends toward health care cost containment.  A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of Johnson & Johnson's Annual Report on Form 10-K for the fisca
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