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Stockholder Advisory of Exchanged Holders of Genzyme Tissue Repair Common Stock for the Distribution date July 22, 1997 Cost basis allocation information concerning the Genzyme Tissue Repair July 22, 1997 common stock distribution paid to Genzyme General Division Stockholders as of July 11, 2997 Genzyme General Division common stockholders received .03 of Genzyme Tissue Repair Division common stock shares plus $10.0625 from any fractional shares. Adjustment to GENZ cost basis: The cost basis of your shares should be allocated in proportion to fair market values (average of the high and low prices) of General Division (GENZ) and Tissue Repair Division (GENZL) common stock on the Distribution Date (7/22/97). The allocation of the cost basis must be weighted to the shares issued as it is not a 1:1 distribution. The calculation is based on the total market value of each common stock on the distribution date: For example, if you owned 100 shares for which you paid $25.00 per share, your total cost was $2,500.00 (total original basis). 100 shares with an average market value of $26.6875 per share= $2,668.78 (98.86%) 3 shares with an average market value of $10.1875 per share= $ 30.56 (1.14%) Applying this to your total original basis from above, 98.86 percent times $2,500.00 = $2,471.50, which is the basis for the total number of Genzyme General Division common stock shares. $2,471.50/100 = $24.72/share. 1.14 percent times $2,500.00 = $28.50, which is the basis for the total number of Genzyme Tissue Repair Division common stock shares. $28.50/3 = $9.50/share. |
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