News Releases Corporate Profiles

May 16, 2000
- ProNet(R) Alliance Marks Hitachi's Entry
into the Life Science Arena -
Myriad Genetics, Inc. (NASDAQ: MYGN) and Hitachi , Ltd. (NYSE: HIT) today announced 
a $26 million strategic alliance based upon Myriad's proprietary high-throughput 
proteomic screening technology, ProNet(R). Under the terms of the agreement, 
Hitachi and Myriad will exploit the ProNet(R) technology together in Japan and 
Hitachi will establish a designated ProNet(R) facility to expedite the discovery of 
novel protein-protein interactions for Japanese customers. Myriad will receive an 
upfront license fee payment of $15 million and research funding totaling $11 
million over 3 years. 

Hitachi , one of the world's leading global electronics companies, established its 
Life Science Group last year to promote the commercialization of biotechnology. 
Hitachi plans to invest 6 billion yen in R&D in its first three years. Hitachi plans 
to generate sales of 200 billion yen annually by 2010.  Hitachi will initially focus 
on bioinformatics services for DNA analyses and database services as well as 
functional analyses of genes and proteins.

"Myriad is a worldwide leader in the application of protein interaction 
technology to discover novel therapeutic targets. This alliance provides us with a 
gateway into the Japanese pharmaceutical
market and Hitachi with state-of-the-art proteomics technology," said Peter 
Meldrum, president and  chief executive officer of Myriad Genetics, Inc. 
"Hitachi's corporate expansion into the life science sector coupled with their 
excellent international reputation make them an outstanding proteomics partner 
for us in Japan. We anticipate a powerful and productive alliance." 

ProNet(R) technology is an integrated system for the high throughput 
identification of protein-protein interactions. These interactions allow for the 
discovery of functional protein partners from human cDNA libraries, and 
therefore the mapping of fundamental biochemical pathways such as cell growth 
pathways, inter-cellular signaling pathways, cell aging and programmed cell 
death. These pathways are cellular communication networks, which control 
fundamental cellular processes and provide unique insight into disease 
progression. In particular, ProNet(R) allows for the identification of key regulators 
in these networks, which are then evaluated for their potential to be modified to 
interrupt the disease process. This provides a pragmatic means of identifying 
exciting new high-potential drug targets. 

"We are pleased to be working with Myriad Genetics, a leader in the proteomics 
field, for our expansion into the life science arena," said Hiroya Taguchi, Chief 
Executive Officer of the Life Science Group at Hitachi. "After a thorough review 
of the U.S. proteomics industry, Hitachi has selected Myriad's ProNet(R) system 
because it provides the state of the art, high-throughput technology necessary to 
launch our entry into the field. We will use it to aid our Japanese collaborators to 
investigate the biological networks of protein interactions and pathways 
involved in the progression of disease, define optimal drug targets and thereby 
accelerate drug development."

The recent accomplishments toward sequencing the human genome further 
emphasize the need for technologies capable of identifying the function of genes 
and assessing which of the estimated 100,000 or more genes represent valuable 
targets for therapeutic development. Using this highly accurate, robotically 
controlled process, scientists at Myriad have already identified 19 potential drug 
targets for the Company and its pharmaceutical collaborators. In addition, 
internal programs are analyzing over 110 novel protein pathways and have 
succeeded in identifying pathways that 
provide promising new approaches to the treatment of HIV and colon cancer. 
Hitachi is the fifth major international company to initiate a ProNet(R) alliance to 
discover drug targets within disease pathways. The Hitachi collaboration brings 
the total potential value of ProNet(R) deals to over $170 million.

Hitachi, Ltd., headquartered in Tokyo, Japan, is one of the world's leading 
global electronics companies, with fiscal 1999 (ended March 31, 2000) 
consolidated sales of 8,001 billion yen ($75.5 billion*).  The company 
manufactures and markets a wide range of products, including computers, 
semiconductors, consumer products and power and industrial equipment. For 
more information on Hitachi, Ltd., please visit Hitachi's Web site at 
* At an exchange rate of 106 yen to the dollar.

Myriad Genetics, Inc. is an emerging biopharmaceutical company focused on 
the development of therapeutic and diagnostic products based on the application 
of genomic and proteomic technologies. The Company has established two 
wholly owned subsidiaries -- Myriad Pharmaceuticals, Inc., which develops and 
intends to market therapeutic compounds, and Myriad Genetic Laboratories, Inc., 
which develops and markets proprietary molecular diagnostic services and has 
introduced products in the fields of predictive and personalized medicine. The 
Company has established strategic alliances with Bayer, Eli Lilly, Hitachi, 
Monsanto, Novartis, Roche, Schering AG and Schering-Plough. 

This and other recent releases are available on Myriad's Web site at 
www.myriad.com .

ProNet is a registered trade mark of Myriad Genetics Inc. in the United States of 

The discussion in this news release includes forward-looking statements that are 
subject to certain risks and uncertainties, including statements regarding Myriad 
Genetic's Pronet technology. Such statements are based on management's 
current expectations that are subject to risks and uncertainties that could cause 
actual results to differ materially from those set forth or implied by forward-
looking statements, including, but not limited to, intense competition related to 
the discovery of disease-related genes; uncertainties as to the extent of future 
government regulation of the Company's business, uncertainties as to whether 
the Company and its collaborators will be successful in developing, and 
obtaining regulatory approval for, and commercial acceptance of, therapeutics 
based on the discovery of disease-related genes and proteins; uncertainties as to 
the Company's ability to develop therapeutic lead compounds, which is a new 
business area for the Company; the risk that markets will not exist for 
therapeutic lead compounds that the Company develops or if such markets exist, 
that the Company will not be able to sell compounds, which it develops, at 
acceptable prices.

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WRITTEN BY Secretary's Office
(C) Hitachi, Ltd. 2000. All rights reserved.