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Pfizer Inc. (PFE) Statement: Key Facts Regarding U.S. Supreme Court Hearing


10/19/2005 5:12:46 PM

NEW LONDON, Conn., Feb. 17 /PRNewswire-FirstCall/ -- The following statement is issued by Pfizer Inc to assist understanding of the company's position regarding a case that will be heard on February 22 before the U.S. Supreme Court (Kelo vs. City of New London and New London Development Corporation).

The headquarters of Pfizer Global Research & Development are in New London CT, but contrary to some recent reports:

- The role of Pfizer is not material to this case. Pfizer was never named as a party to the lawsuit and the company has no stake in the outcome. - Eminent domain played no part in the company's purchase of land in New London. - Pfizer has no requirements for the proposed development and expects no material benefit.

Pfizer is a good citizen and has delivered all its promises to the State and City. The corporation brought 1500 jobs to New London and is the city's largest single taxpayer. It is a major source of philanthropic and volunteer contributions. Pfizer has also delivered benefit by choosing to build on a derelict urban brown field, and investing in environmental remediation.

Photo: A free corporate logo to accompany this story is availableimmediately via Wieck Photo Database to any media with telephoto receiver orelectronic darkroom, PC or Macintosh, that can accept overhead transmissions.To retrieve a logo, please call 972-392-0888 Pfizer Inc

CONTACT: Stephen Lederer, +1-860-732-9783, pager: 1-877-549-9848,stephen.f.lederer@pfizer.com, or Liz Power, +1-860-732-4987,cell: +1-860-625-9360, elizabeth.power@pfizer.com, both of Pfizer Inc

Company News On-Call: Pfizer's press releases are available through PRNewswire's Company News On-Call service on PRN's Web Site. Visithttp://www.prnewswire.com/comp/688250.html

Company News On-Call: http://www.prnewswire.com/comp/688250.html



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