1099800--3/1/2007--EDWARDS_LIFESCIENCES

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{system, service, information}

{regulation, government, change}

{operation, international, foreign}

{product, market, service}

{financial, litigation, operation}

{acquisition, growth, future}

{investment, property, distribution}

If Edwards Lifesciences does not introduce new products in a timely manner, its products may become obsolete and its operating results may suffer. Edwards Lifesciences may incur product liability losses that could adversely affect its operating results. Edwards Lifesciences may experience supply interruptions that could harm its ability to manufacture products. The manufacture of many of Edwards Lifesciences' products is highly complex and subject to strict quality controls. If the Company or one of its suppliers encounters manufacturing or quality problems, Edwards Lifesciences' business could suffer. Edwards Lifesciences may be required to recognize additional charges in connection with the write-down of some of its investments, the disposition of some of its businesses, the termination of its interest rate swap agreements or for other reasons. Edwards Lifesciences may not successfully identify and complete acquisitions or strategic alliances on favorable terms or achieve anticipated synergies relating to any acquisitions or alliances, and such acquisitions could result in unforeseen operating difficulties and expenditures, require significant management resources and require significant charges or write-downs. External economic and political factors can have a material adverse affect on Edwards Lifesciences' business. Edwards Lifesciences' business is subject to economic, political and other risks associated with international sales and operations, including risks arising from currency exchange rate fluctuations. The stock market can be volatile and fluctuations in Edwards Lifesciences' quarterly operating results as well as other factors may cause its stock price to decline. Edwards Lifesciences' inability to protect its intellectual property could have a material adverse effect on its business. Third parties may claim Edwards Lifesciences is infringing their intellectual property, and Edwards Lifesciences could suffer significant litigation or licensing expenses or be prevented from selling products. Edwards Lifesciences faces intense competition within its industry, and if Edwards Lifesciences does not compete effectively, its business will be harmed. Consolidation in the healthcare industry could have an adverse effect on Edwards Lifesciences' revenues and results of operations. Edwards Lifesciences and its customers are subject to rigorous governmental regulations and Edwards Lifesciences may incur significant expenses to comply with these regulations and develop its products to be compatible with these regulations. Unsuccessful clinical trials or developmental procedures relating to products and development could have a material adverse effect on Edwards Lifesciences' prospects. Edwards Lifesciences is subject to risks arising from concerns and/or regulatory actions relating to "mad cow disease." If third party payors decline to reimburse Edwards Lifesciences' customers for its products or reduce reimbursement levels, Edwards Lifesciences' ability to profitably sell its products will be harmed.

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1099800--3/1/2007--EDWARDS_LIFESCIENCES_CORP