Cambridge, Mass., Sept. 23, 2002 Forest City | Boston and Millennium Pharmaceuticals, Inc. (Nasdaq: MLNM) celebrated the grand opening today of 35 Landsdowne Street, the newest biotech facility to open on the University Park at MIT campus.

Designed by Elkus | Manfredi Architects with a stunning curved entrance façade, 35 Landsdowne Street features state-of-the-art research laboratories, an auditorium, and other amenities that make it the core of Millennium's presence on campus. The seven-story building contains more than 202,000 square feet of research and office space and fronts on the Landsdowne Quadrangle, a half-acre outdoor green room that is Cambridge's newest urban park.

Forest City's University Park is a 27-acre campus that houses some of Cambridge's leading biotechnology firms. The mixed-use Park also includes a 210-room hotel and conference center, restaurants, a full-service Star Market, and 420 apartments in three residential complexes-nearly 40 percent of which are set aside for low- and moderate-income families. Upon completion, University Park at MIT will include 1.6 million square feet of biotech research and office space, making it one of the largest biomedical parks in the United States.

Millennium Pharmaceuticals will also occupy a new 215,000-square-foot facility at 40 Landsdowne Street their fourth building on campus when construction is completed next year. Like its companion building at 35 Landsdowne Street, 40 Landsdowne features sophisticated, highly flexible research labs that will enable Millennium to pursue an array of scientific initiatives. The firm is a developer of breakthrough therapeutic and predictive medicines, concentrating on cardiovascular, oncology, inflammation, and metabolic diseases. Millennium is the largest employer in the City of Cambridge, with more than 2,000 people.

"The University Park at MIT project is a prime example of our focus on large urban areas with significant growth potential," said Charles A. Ratner, president and chief executive officer of Forest City Enterprises. "In four phases that began in 1985, we have built a corporate and residential environment that reflects the lively, technology-oriented Cambridge community. Our comprehensive urban development plan has transformed a once underutilized industrial site into one of Cambridge's most prestigious addresses for biotechnology businesses and residents."

"Forest City has played a pivotal role in helping Millennium establish a campus environment in the heart of Cambridge," said Glenn Batchelder, vice president of operations at Millennium. "The opening of this state-of-the-art facility, coupled with our proximity to top universities, will continue to help Millennium attract exceptional talent, foster a great work environment, and accommodate our growing science and business needs. This latest addition to our headquarters represents another major milestone for Millennium as we continue to create the biopharmaceutical company of the future."

As part of the opening ceremonies for 35 Landsdowne Street, Forest City | Boston presented a $50,000 check to the Cambridge Fire Department. The donation will support the purchase of an advanced life support vehicle for the city.

About Forest City:
Forest City | Boston is part of a national real estate company with a firm commitment to urban placemaking — creating vibrant mixed-use developments and promoting the sustainability of surrounding communities. Use the navigation at the top of the page to find further information on the company, its capabilities, and its innovative urban portfolio.

About Millennium:
Millennium Pharmaceuticals, Inc., a leading biopharmaceutical company, applies its comprehensive and integrated science and technology platform for the discovery and development of breakthrough therapeutic and predictive medicine products with a goal of delivering personalized medicine. Millennium is primarily focusing its research, development, and commercialization activities in four key areas: cardiovascular, oncology, inflammation, and metabolic diseases. Through the industrialization of its gene-to-patient platform, Millennium is striving to accelerate the process of drug discovery and development. Headquartered in Cambridge, Mass., Millennium currently employs more than 2,000 people. Further information on the firm is available at www.millennium.com.

This press release contains "forward-looking statements" about Millennium, including statements on our growth and future operating results, discovery and development of products, potential acquisitions, strategic alliances, and intellectual property. Various risks may cause Millennium's actual results to differ materially, including: adverse results in our drug discovery and clinical development processes; failure to obtain patent protection for our discoveries; commercial limitations imposed by patents owned or controlled by first parties; our dependence upon strategic alliance partners to develop and commercialize products and services based on our work; difficulties or delays in obtaining regulatory approvals to market products and services resulting from our development efforts; realizing the expected benefits our acquisition of COR Therapeutics, Inc. and successfully integrating COR into our company; the commercial success of INTEGRILIN®; our ability to extinguish the convertible notes assumed in the COR acquisition; and the requirement for substantial funding to conduct research and development and to expand commercialization activities. For a further list and description of the risks and uncertainties we face, see the reports we have filed with the Securities and Exchange Commission. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.