GENEVA, Switzerland, April 26 /PRNewswire-FirstCall/ --
    Serono (virt-x: SEO and NYSE: SRA)
    Serono announced that its shareholders have approved all the resolutions
at the Annual General Meeting of shareholders, held today in Lausanne,
Switzerland.

    Shareholders approved the following main resolutions:

    - A cash dividend of CHF 131.1 million or $110.1 million [1]
      (2003: CHF123.9 million or $96.8 million)
    - Gross dividend per bearer share of CHF 9.00 or $7.56
      (2003: CHF8.00 or $6.25)
    - Gross dividend per American Depositary Share of CHF 0.23 or $0.19
      (2003: CHF0.20 or $0.15625)
    - Gross dividend per registered share of CHF 3.60 or $3.03
      (2003: CHF3.20 or $2.50)

    The dividend for bearer shares will be paid as of April 29, 2005, net of
the 35% Swiss withholding tax. The total cash pay-out in Swiss Francs (CHF)
represents an increase of 5.8% for the financial year 2004 compared with
2003. The dividend pay-out ratio in relation to earnings per share is 21.2%
for 2004 compared to 24.3% for 2003.
    Shareholders approved the cancellation of 962,435 bearer shares, with a
par value of CHF 25.00 each, purchased by the company under its second share
buyback program, announced on May 25, 2004.

    Shareholders approved the re-election for one year of:
    - Mr. Georges Muller (Chairman)
    - Mr. Ernesto Bertarelli (Vice Chairman and Managing Director)
    - Mr. Pierre E. Douaze
    - Mr. Patrick Gage
    - Mr. Bernard Mach
    - Mr. Sergio Marchionne
    - Mr. Jacques Theurillat

    Mr. Hans Thierstein did not seek a re-election. Mr. Georges Muller, on
behalf of the Board as a whole, the employees and the shareholders of Serono
SA, thanked him very much for his remarkable contribution to the company
during 25 years, in particular regarding its international development and
its listing on the Stock Exchange.
    Shareholders elected Mr. Alberto Togni as a new member of the Board of
Serono SA for a one-year statutory term. Until 2004, Mr. Togni served as
member of the Board of the Swiss National Bank, delegated by the Swiss
Federal Council, and he is a member of an Advisory Board of the International
Monetary Fund. Mr. Togni was the Executive Vice Chairman of the Board of
Directors of UBS since 1998. He has stepped down from all his functions
within UBS on April 21, 2005.
    The annual report, the accounts of Serono SA and the consolidated
accounts of the Serono group for the year 2004 were approved.
    [1] All dollar figures are based on prevailing exchange rates. Final
equivalent US$ amounts may differ depending on exchange rates on the date of
the payment.
    Some of the statements in this press release are forward looking. Such
statements are inherently subject to known and unknown risks, uncertainties
and other factors that may cause actual results, performance or achievements
of Serono S.A. and affiliates to be materially different from those expected
or anticipated in the forward-looking statements. Forward-looking statements
are based on Serono's current expectations and assumptions, which may be
affected by a number of factors, including those discussed in this press
release and more fully described in Serono's Annual Report on Form 20-F filed
with the U.S. Securities and Exchange Commission on March 16, 2005. These
factors include any failure or delay in Serono's ability to develop new
products, any failure to receive anticipated regulatory approvals, any
problems in commercializing current products as a result of competition or
other factors, our ability to obtain reimbursement coverage for our products,
the outcome of government investigations and litigation and government
regulations limiting our ability to sell our products. Serono has no
responsibility to update the forward-looking statements contained in this
press release to reflect events or circumstances occurring after the date of
this press release.
    About Serono
    Serono is a global biotechnology leader. The Company has eight
biotechnology products, Rebif(R), Gonal-f(R), Luveris(R),
Ovidrel(R)/Ovitrelle(R), Serostim(R), Saizen(R), Zorbtive(TM) and Raptiva(R).
In addition to being the world leader in reproductive health, Serono has
strong market positions in neurology, metabolism and growth and has recently
entered the psoriasis area. The Company's research programs are focused on
growing these businesses and on establishing new therapeutic areas, including
oncology. Currently, there are approximately 30 ongoing development projects.
    In 2004, Serono achieved worldwide revenues of US$2,458.1 million, and a
net income of US$494.2 million, making it the third largest biotech company
in the world. Its products are sold in over 90 countries. Bearer shares of
Serono S.A., the holding company, are traded on the virt-x (SEO) and its
American Depositary Shares are traded on the New York Stock Exchange (SRA).

    Reuters: SEO.VX / SRA.N
    Bloomberg: SEO VX / SRA US

    http://www.serono.com
    http://www.seronousa.com

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