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                               GUIDANT CORPORATION

                                                                      EXHIBIT 99

FACTORS POSSIBLY AFFECTING FUTURE OPERATING RESULTS

From time to time, the Company publishes forward-looking statements relating to
anticipated financial performance, product development and regulatory approval
timelines, intellectual property matters, market developments and similar
matters. A variety of factors could cause the Company's actual results to differ
materially from those projected, including the following:

   1.     Product development and production factors, including:

         a.   The difficulties and uncertainties inherent in new product
              development (including with respect to products such as drug
              eluting stents), including new products that appear promising
              during development but fail to reach the market or reach the
              market later than expected as a result of safety, performance or
              efficacy concerns, inability to obtain necessary regulatory
              approvals, unanticipated restrictions imposed on approved
              indications, excessive costs to manufacture or technological
              advances by competitors of the Company.

         b.   Unexpected safety, performance, or efficacy concerns arising with
              respect to marketed products, whether or not scientifically
              justified, leading to product recalls, withdrawals, or declining
              sales.

         c.   Unexpected interruptions of manufacturing operations as a result
              of regulatory enforcement actions by the FDA, U.S. Nuclear
              Regulatory Commission, or other regulatory authorities or the
              unavailability of necessary components or materials used in
              manufacturing the Company's products.

   2.     Litigation and other legal factors that could preclude
          commercialization of products or negatively affect the level of sales
          or profitability of existing products, including litigation of product
          liability matters, commercial litigation like the Cook Incorporated
          suit against Boston Scientific Corporation or patent litigation, which
          could result in injunctions, the payment of royalties or other
          damages.

   3.     Competitive factors, including:

         a.   The introduction of new products or therapies (including the
              earlier introduction of drug eluting stents by a competitor) or
              scientific or medical developments that render the Company's
              existing products less competitive.

         b.   The ability of the Company to obtain intellectual property rights
              sufficient to protect its products or the acquisition of patents
              by competitors that prevent the Company from selling a product or
              including key features in the Company's products.


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   4.     Domestic and international governmental factors, including changes to
          laws and regulations, policies and judicial decisions that affect the
          regulation and reimbursement of medical devices, product liability,
          health care reform, or tax laws.

   5.     Health care industry factors, including:

          a.   Increased customer demands for price concessions, reductions in
               third-party reimbursement levels or refusals to provide
               reimbursement.

          b.   Limits imposed by customers on the number of manufacturers or
               vendors from which the customers will purchase products.

   6.     Internal factors, such as retention of key employees, changes in
          business strategies, the impact of restructuring and business
          combinations, and changes in the Company's effective tax rate based on
          changes in the geographic mix of the Company's income or acquisitions,
          if any.

   7.     General economic factors, including changes in foreign currency
          exchange rates, interest rates and inflation.

   8.     Other factors beyond the control of the Company, including earthquakes
          (particularly in light of the fact that the Company has significant
          facilities located near major earthquake fault lines), floods, fires,
          explosions, or acts of terrorism or war.

The Company does not undertake to update its forward-looking statements.

The Company's Annual Report on Form 10-K further describes risks associated with
manufacturing, patents, competition, regulation, third-party reimbursement and
related matters.