RNS Number:1223K
Baxter International Inc
16 April 2003




FOR IMMEDIATE RELEASE

Media contacts:            Deborah Spak, (847) 948-2349

                           Cindy Resman, (847) 948-2815


Investor contacts:         Neville Jeharajah, (847) 948-2875

                           Mary Kay Ladone, (847) 948-3371



              BAXTER ACHIEVES FIRST QUARTER SALES AND EPS GOALS


DEERFIELD, Ill., April 16, 2003 -- Baxter International Inc. (NYSE: BAX) today
reported that it achieved its sales and diluted earnings per share (EPS) goals
for the first quarter of 2003. Baxter's sales grew 6 percent in the first
quarter, while earnings declined as a result of product mix and competitive
pricing in the plasma market.

Baxter's sales from continuing operations in the quarter rose to $2.0 billion,
up from $1.88 billion reported for the same period last year. The increase in
sales for the first quarter included a 4 percentage-point benefit from foreign
exchange. Sales within the United States grew 4 percent to $956 million, while
sales outside the United States grew 9 percent to $1.04 billion (or declined 1
percent excluding the impact of foreign exchange). First quarter sales for Renal
grew 2 percent to $407 million and sales in BioScience were down 1 percent at
$740 million. Medication Delivery sales grew 17 percent to $850 million.
Contributing to the growth in Medication Delivery were strong sales of
anesthesia and drug delivery products, as well as sales from ESI Lederle, which
Baxter acquired at the end of 2002.

Baxter's earnings from continuing operations in the first quarter totaled $217
million, or $0.36 per diluted share, a decline of 14 percent from the $253
million, or 12 percent from the $0.41 per diluted share reported last year. The
first quarter results include a pre-tax impairment charge of $13 million to
reflect the decline in the market value of a minority investment.

"Despite the current challenges in the plasma protein business, I expect our
sales growth for the full year to be in the 8 to 12 percent range and our EPS
growth to be in the $2.10 to $2.20 range, in addition to generating cash flows
from continuing operations of $1.3 billion to $1.5 billion before capital
expenditures," said Harry M. Jansen Kraemer, Jr., chairman and chief executive
officer. "With the many new product launches we have planned for 2003, combined
with our ongoing expansion with current products into new markets, we believe we
are well positioned to achieve our goals."

Contributing to growth for full-year 2003 will be the anticipated approval and
launch of the company's innovative hemophilia therapy ADVATE, which will offer
patients the first Factor VIII recombinant therapy to be clinically developed
and prepared without the addition of any human- or animal-derived raw materials.

Specifically for the second quarter, the company expects to achieve sales growth
in the range of 8 to 10 percent and EPS in the range of $0.40 to $0.42. Among
the contributors to the growth in the second quarter will be the launch of
several products, including the new peritoneal dialysis (PD) solution,
Extraneal, and the ALYX Red Blood Cell Collection System. The launch of
Extraneal is the first of several new product launches anticipated in the Renal
business this year in an effort to continually refresh its product line for
patients with end-stage renal disease.

A webcast of Baxter's first quarter conference call for investors can be
accessed live from a link on Baxter's website at www.baxter.com beginning at 7:
30 a.m. CDT on

April 16, 2003. The company will conduct its Annual Meeting of Stockholders on
May 6, and will be making an investor presentation on June 10. Please visit
Baxter's website for additional information about these events.

Baxter International Inc., through its subsidiaries, assists health-care
professionals and their patients with treatment of complex medical conditions,
including cancer, hemophilia, immune disorders, kidney disease and trauma. The
company applies its expertise in medical devices, pharmaceuticals and
biotechnology to make a meaningful difference in patients' lives.

(Baxter, ADVATE, Extraneal and ALYX are trademarks of Baxter International Inc.
and its subsidiaries)

This news release contains forward-looking statements that involve risks and
uncertainties, including the effect of economic conditions, actions of
regulatory bodies, product development risks, product demand and market
acceptance, the impact of competitive products and pricing, foreign currency
exchange rates and other risks detailed in the company's filings with the
Securities and Exchange Commission. These forward-looking statements are based
on estimates and assumptions made by management of the company and are believed
to be reasonable, though are inherently uncertain and difficult to predict.
Actual results or experience could differ materially from the forward-looking
statements.

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