GENEVA, Switzerland, November 10 /PRNewswire-FirstCall/ -- Serono
(virt-x: SEO and NYSE: SRA) announced today the appointment of Stuart Grant
as Chief Financial Officer. Mr Grant will be a member of the Serono Executive
Management Board and will report directly to the CEO, Ernesto Bertarelli.
    "Stuart Grant is already a member of the Serono team as our Chief
Financial Officer for Serono Inc. in the USA." said Ernesto Bertarelli. "With
this appointment we will benefit from his strong financial management and
business skills at the overall company level."
    Mr Grant has over 25 years of financial and business management
experience in the high technology sector, in both the Corporate and Field
environments. He held various senior financial positions with Digital
Equipment Corporation, before joining Serono in 1995. During his time at
Serono, he has held a number of financial and general management roles with
increasing responsibility and has demonstrated strong leadership.
    Mr Grant will take up his new responsibilities within the next few weeks,
while ensuring a smooth transition.
    Mr Grant graduated with a Bachelor of Accountancy from the University of
Glasgow, and is a Chartered Accountant.
    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 25, 2004. 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,
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.
Currently, there are approximately 30 ongoing development projects.
    In 2003, Serono achieved worldwide revenues of US$2,018.6 million, and a
net income of US$390.0 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
    http://www.serono.com
    http://www.seronousa.com

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