Wednesday, Mar 15, 2000

Roche to Launch Offering of Up to 19 Million Genentech Shares

South San Francisco, Calif. -- March 15, 2000 --

Genentech, Inc. (NYSE: DNA) today announced that the U.S. Securities and Exchange Commission (SEC) does not intend to review the registration statement for the public offering by Roche Holdings, Inc. of up to 19 million shares of Genentech common stock. The offering of 19 million shares includes a grant to the underwriters of an option to purchase up to 1.7 million shares of common stock to cover over-allotments. If the over-allotment is exercised, Roche's ownership percentage will be reduced from approximately 66 percent to approximately 58 percent. If the over-allotment is not exercised, Roche's ownership will be reduced to approximately 59 percent.

Proceeds from the proposed offering will be for the sole benefit of Roche. Genentech will not receive any proceeds from this transaction. Genentech filed a registration statement with the SEC on Thursday, March 9, 2000.

J.P. Morgan & Co. is acting as lead manager for the offering. Goldman, Sachs & Co., Merrill Lynch & Co., Warburg Dillon Read LLC, Lehman Brothers and Robertson Stephens are co-managers.

The common stock offering will be made only by means of a prospectus. A registration statement relating to these securities has been filed with SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Genentech, Inc. is a leading biotechnology company that discovers, develops, manufacturers and markets human pharmaceuticals for significant unmet medical needs. Thirteen of the approved products of biotechnology stem from Genentech science. Genentech markets seven products directly in the United States. The company has headquarters in South San Francisco, California and is traded on the New York Stock Exchange under the symbol DNA.

# # #