Pfizer Inc Clears Antitrust Review for Acquisition of All Outstanding Shares of Coley Pharmaceutical Group, Inc.

  
    
  
  
    
      Pfizer (NYSE:PFE) announced today that the waiting period under the 
      Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) has 
      expired, and that it has received clearance from the Federal Cartel 
      Office of Germany (FCO), in each case in connection with its offer to 
      purchase all of the outstanding shares of common stock of Coley 
      Pharmaceutical Group, Inc. (Nasdaq:COLY).
    
    
      Expiration of the waiting period under the HSR Act and the FCO’s 
      actions satisfy one of the conditions necessary for the consummation of 
      the pending acquisition. The tender offer is scheduled to expire at 
      12:00 midnight, New York City time, on Friday, December 28, 2007, unless 
      the tender offer is extended. Consummation of the tender offer remains 
      subject to other customary closing conditions, including satisfaction of 
      the minimum tender condition under the Agreement and Plan of Merger 
      entered into by and among Pfizer, Corvette Acquisition Corp., an 
      indirect wholly owned subsidiary of Pfizer, and Coley on November 15, 
      2007.
    
    
      As previously announced, Pfizer commenced a tender offer on November 30, 
      2007 for all of the outstanding shares of Coley’s 
      common stock for $8.00 per share in cash.
    
    
      Additional Information
    
    
      This press release is neither an offer to purchase nor a solicitation of 
      an offer to sell securities. The tender offer is being made pursuant to 
      a tender offer statement and related materials. Coley shareholders are 
      advised to read the tender offer statement and related materials filed 
      by Coley and Pfizer with the U.S. Securities and Exchange Commission 
      (the “SEC”). The 
      tender offer statement (including an offer to purchase, letter of 
      transmittal and related tender offer documents) and the 
      solicitation/recommendation statement filed by Coley and Pfizer with the 
      SEC contain important information which should be read carefully before 
      any decision is made with respect to the offer.
    
    
      The tender offer statement and related materials may be obtained at no 
      charge by directing a request by mail to Georgeson Inc., 199 Water 
      Street, 26th Floor, New York, NY 10038, or by calling toll-free (800) 
      546-8249, and may also be obtained at no charge at www.pfizer.com 
      and www.coleypharma.com and the 
      website maintained by the SEC at http://www.sec.gov.
    
    
      DISCLOSURE NOTICE: The information contained in this release is as of 
      December 18, 2007. Pfizer assumes no obligation to update any 
      forward-looking statements contained in this release as a result of new 
      information or future events or developments.
    
    
      Some statements in this release may constitute forward-looking 
      statements. Pfizer cautions that these forward-looking statements 
      are subject to risks and uncertainties that may cause actual results to 
      differ materially from those indicated in the forward-looking 
      statements, including the risk that the tender offer may not be 
      completed or the subsequent merger may not be consummated for various 
      reasons, including the failure to satisfy the conditions precedent to 
      the completion of the acquisition. A description of risks and 
      uncertainties that may affect Pfizer’s results 
      and operations can be found in the Pfizer’s 
      Annual Report on Form 10-K for the fiscal year ended December 31, 2006 
      and in its reports on Forms 10-Q and 8-K.