Integrated Competencies and Services

Total Rewards HR Transformation Organization & Change Actuarial & Insurance Solutions

Rewards TransformationRewards DialogueRewards, Inc.Rewards Communications

Compensation and Performance ManagementExecutive & Employee PayIncentive Plan Design

RetirementPlan Review, Design, & ImplementationActuarial ValuationsVendor SelectionPlan Administration and Outsourcing ConsultingInvestment ConsultingEmployee Benefit Tax

Health and WelfareBenefit & Product Strategy/ DesignDesign and ImplementationVendor Selection and ManagementOperational Excellence/TransformationProfitability Enhancement CompliancePricingConsumer-Driven Health Care

Sales Force EffectivenessSkill RequirementsRisk Definition Tools and Support

•••

••

••••••

•••••••

•••

HR StrategyService StrategyMeasurement and Metrics

HR Service DeliveryHR Service Delivery ModelsInsource / Outsource DesignOutsourcing AdvisoryRetained HR – HR BPO, COE

HR Operations and ProcessShared Services Service CentersOutsourcing IntegrationProcess DesignProcess Experts (e.g., Payroll)Policies and ProceduresHR BPO AdvisoryPlanning and Business CaseVendor SelectionVendor Management

HR Technology ERP (SAP/Oracle)Point SolutionsPortals

••

••••

••••••••••

•••

Strategic ChangePeople Dimension of Transformation

Enterprise (e.g., M&A, restructuring)Functional (e.g., IT, Finance)Sourcing (e.g., Shared Services, Outsourcing)

Culture TransformationBehavior Led Strategy ExecutionCommunications

Technology and Regulatory AdoptionERP, CRM and Enterprise SystemsEthics, Regulation, Risk Management & ComplianceClinical Information Systems

Workforce & Talent StrategiesWorkforce PlanningTalent Management (e.g., Competency Modeling, Succession Planning)Performance Management

Learning and DevelopmentLearning Strategy, Systems, and Courseware Knowledge Management Leadership

Organization StrategiesOrganization DesignJob Design

•–––

•••

•••

••

•

•••

••

Life Actuarial ServicesFinancial Performance AnalysesProfitability and Pricing StudiesProduct Development StrategyStochastic ModelingEnterprise Risk ManagementM&A Appraisal

Property & CasualtyActuarial Valuation StudiesUnderwriting and Claims Performance ImprovementProcess Management, Technology, & TransformationFinancial ExaminationsReinsurance Advisory ServicesRegulatory and Statistical ReportingEnterprise Risk Management

Risk ManagementCaptive Feasibility Analysis and FormationsWorkers Compensation and Disability ManagementInsurance Program DesignClaims & Risk Information SystemsM&A Transaction Support

Advanced Quantitative SolutionsCustomer Profitability / PricingPredictive Modeling:

Employee RetentionCustomer RetentionUnderwriting and Claims Agent & Sales Productivity

••••••

•••••••

•••••

••

––––

It is our mission to enhance an organization’s value through people. How are we doing this? By redefining human capital and how it is managed and measured. By assembling a highly talented and integrated global team of broad-based business consultants and deep technical specialists. By fostering an environment of innovation. By investing aggressively in leading-edge metrics, methodologies, and tools. And, simply, by not being your Father’s HR. We’re the second largest HR consultancy in the world with more than 7,500 practitioners in 80 major offices globally, visit us at www.deloitte.com/us/HumanCapital. Leading HR Consulting Practices

Rank

‘06

Rank

‘05Company, Web address

HR consulting revenue

for most recent

four quarters (percent

change from a year earlier)

HR consulting

revenue for

previous four

quarters

Number of HR

consulting client

companies

Number of

full-time

HR

consultants

1. 1.

Mercer Human Resource

Consulting

www.mercerhr.com

$2.7 billion

(no change)$2.7 billion* 14,000

Would not

disclose

2 2.Deloitte Consulting

www.deloitte.com

$1.5 billion

(+7 percent)$1.4 billion

Would not

disclose7,820

3 3.Aon Consulting

www.aon.com/hcc

$1.3 billion

(+4 percent)$1.25 billion

Would not

disclose7,000

4 4.Watson Wyatt Worldwide

www.watsonwyatt.com

$967.8 million

(+36 percent)$711 million** 3,000 6,000

5 5.Towers Perrin

www.towersperrin.com

$930 million

(no change)$930 million*

Would not

disclose2,604

6 6.PriceWaterHouseCoopers

www.pwc.com/hrs

$900 million

(no change)$900 million 17,00 5,500

7 7.Hewitt Associates

www.hewitt.com

$817.7 million

(+6 percent)$772.6 million* 2,300

Would not

disclose

8 8.Hay Group

www.haygroup.com

$399 million

(+28 percent)$311 million* 7,000 1,500

9 9.The Segal Co.

www.segalco.com

$178.3 million

(no change)$178.3 million* 3,200 636

Our ServicesWe believe Deloitte has the broadest footprint of service offerings amongst Human Capital consultancies and strategy firms. We are distinguished by our end-to-end solutions—from strategy development to operational excellence to analyzing HR return on investment. No other firm matches our depth and breadth.

Human Capital Breadth and Depth

Our Human Capital practice crosses numerous disciplines, and we serve our clients in all aspects of their business.

Deloitte’s Human Capital 360º View of HR

Total Rewards

Change, Leadership and

Learning

Organizational and People Performance

Actuarial & Insurance Services

Employee Benefits Tax

HR Operations and

Technology

Performance Analysis

Project Managment

CommunicationsProject

Managment

Strategy

Human Capital Services for the People Dimension of Business

*Company adjusted previous revenue. **Watson Wyatt’s revenue figure was misprinted last year. Sources: Companies

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. Deloitte Touche Tohmatsu is an organization of member firms around the world devoted to excellence in providing professional services and advice, focused on client service through a global strategy executed locally in nearly 140 countries. With access to the deep intellectual capital of approximately 135,000 people worldwide, Deloitte delivers services in four professional areas, audit, tax, consulting and financial advisory services, and serves more than 80 percent of the world’s largest companies, as well as large national enterprises, public institutions, locally important clients, and successful, fast-growing global growth companies. Services are not provided by the Deloitte Touche Tohmatsu Verein and, for regulatory and other reasons, certain member firms do not provide services in all four professional areas.

As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte”, “Deloitte & Touche”, “Deloitte Touche Tohmatsu” or other related names.

In the United States, Deloitte & Touche USA LLP is the U.S. member firm of Deloitte Touche Tohmatsu and services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP, and their subsidiaries), and not by Deloitte & Touche USA LLP. The subsidiaries of the U.S. member firm are among the nation’s leading professional services firms, providing audit, tax, consulting, and financial advisory services through nearly 40,000 people in more than 90 cities. Known as employers of choice for innovative human resources programs, they are dedicated to helping their clients and their people excel. For more information, please visit the U.S. member firm’s Web site at www.deloitte.com

Copyright © 2006 Deloitte Development LLC. All rights reserved.

For more information, please contact:

Faith Glazier, Principal, Deloitte Consulting LLP at 203-708-4224 or fglazier@deloitte.com

Burt Rea, Director, Deloitte Consulting LLP at 212-618-4476 or brea@deloitte.com

Greg Biche, Deloitte Consulting LLP at 973-683-7059 or gbiche@deloitte.com

Member ofDeloitte Touche Tohmatsu

Leading Research and Business Insights

Leading Research and Thought Leadership Business Insights

Books

• Strategist & Steward - The Evolving Role of the Chief Human Resources Officer by DeloitteConsulting LLP

• The Heart of Change by John Kotter of Harvard Business School and Dan Cohen of Deloitte• The Heart of Change Field Guide by Dan Cohen of Deloitte• The e-Learning Fieldbook by Nick van Dam of Deloitte• The Innovator’s Solution by Clayton Christensen and Michael Raynor of Deloitte• Implementing and Managing Telework by Bill Fenson and Sharon Hill,

Foreword by Timothy J. Kane of Deloitte

• Human Capital I.Q. (Monthly Legislative/Trend Update)• Global Human Capital (Quarterly Global TR Newsletter)

• It’s 2008: Do You Know Where Your Talent Is?• Top Five Total Rewards Priorities Survey (with ISCEBS)• Annual 401(k) Benchmarking Survey (with Pensions & Investments)• Annual Stock Compensation Survey• e-Surveys (timely surveys on hot topics)

Webcasts • Dbriefs Webcasts for HR Executives (Complimentary 60 minute sessions)

Publications

ProprietaryResearch

Deloitte’s Global Human Capital PracticeHuman Capital is a global consulting practice helping our clients align their human capital strategies with their

business strategies and objectives. We have over 8,000 practitioners worldwide.

The life sciences industry is changing at an unprecedented rate.Organizations like Merck are now faced with the impact ofmanaged care, new therapeutic discoveries, revolution in R&Dand drug discovery, securing patents and intellectual propertyprotection, evolution of the biotech sector, emergence of thespecialty and generic sectors, increasingly complex humancapital challenges; access to capital, royalty and revenuerecovery, mergers and acquisitions, shifting markets andsources, worldwide efforts to control health care costs, and an evolving regulatory and compliance environment.

Our Life Sciences & Health Care Practice is uniquely positionedto serve in this environment. With the innovation, knowledge,and experience of nearly 2,500 US professionals behind us, weprovide a complete range of audit, tax, consulting, and financialadvisory services to the industry, all backed by more than 60years of proven Life Sciences & Health Care experience.

Our National Life Sciences & Health Care Practice is proud to serve:

» More than 80% of Fortune 1,000 Life Sciences & Health Care companies

» 10 of the 10 largest Pharmaceutical Manufacturers (as ranked by Hoover's Inc.)

» 9 of the 10 largest Medical Equipment Manufacturers (as ranked by Hoover's Inc.)

» 10 of the 10 largest Biotechnology Companies (as ranked by Hoover's Inc.)

*Audit Clients

Our Industry-Leading LifeSciences Practice Bringing Value to Wyeth: A Record of Service

About DeloitteDeloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte ToucheTohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte,”“Deloitte & Touche,” “Deloitte Touche Tohmatsu,” or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.

Deloitte & Touche USA LLP is the U.S. member firm of Deloitte Touche Tohmatsu. In the U.S., services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, DeloitteConsulting LLP, Deloitte Tax LLP, and their subsidiaries), and not by Deloitte & Touche USA LLP.

Copyright © 2006 Deloitte Development LLC. All rights reserved.Member of Deloitte Touche Tohmatsu

Representative Life Sciences and Health Care Clients

Abbott Laboratories*Active Health Management*Advance PCSAccredoAetnaAllerganAmerican HealthwaysAmerisourceBergenAmgenBaxter InternationalBayerBecton DickinsonBiogenBioRad Technologies*Boston ScientificBristol-Myers SquibbCardinal HealthCaremarkChironCHRISTUS Health*CIGNACommunity Health Systems*Eli LillyExpress ScriptsGenentechGentaHealth Net*Johnson & JohnsonKaiser Permanente

Kendle InternationalMcKesson*MedCath*Medco Health SolutionsMedtronicMerckMillenniumNational Imaging Associates*NovartisOrganonPfizerProcter & Gamble*Qualcare Alliance Networks*QuintilesRocheSanofi - AventisSankyo PharmaceuticalsSchering-Plough*SepracorSierra Health Services*The Regence Group*Thoratec Laboratories*Tyco*Tutogen Medical*UnitedHealth Group*Ventiv Health*WebMDWyeth

John Mott, PartnerLead Client Service Provider - WyethDeloitte Consulting LLP(203) 708-4770jmott@deloitte.com

John has 30 years experience advising domestic and multi-national clients on U.S. and international tax issues. His experience includes domestic and international merger and acquisition transactions, transfer pricing, restructuring and cross-border planning. John has counseled clients on struc-turing and restructuring international operations, minimizing utilization of foreign tax credits, cash flow, dividends and earning repatriation planning and cross-jurisdictional inter-company pricing matters. In addition, he has had significant experience advising clients on tax and business issues related to multinational joint venture and contract arrangements. John’s major clients include General Electric and Wyeth. John has also served International Paper and, prior to joining Deloitte, his clients included M.W. Kellogg, Brown & Root, Halliburton, Maxxim, Inc., Cameron Iron Works and Global Crossing.

Edward Masterson, PrincipalLead Consulting PartnerDeloitte Consulting LLP(610) 479-3056emasterson@deloitte.com

Ed is a principal in Deloitte Consulting’s Life Sciences prac-tice and is Deloitte’s Lead Consulting Partner for Wyeth. He has over fifteen years of experience consulting to the life sci-ences industry, and has led projects across pharmaceutical, biopharma and medical device clients in the following areas: process improvement, information technology strategic planning, systems design and implementation and program and project management. Ed has also led several success-ful initiatives at Wyeth, over the same time frame. Beyond Wyeth, other clients he has served include Amgen, Boston Scientific, GlaxoSmithKline, Merck, Zeneca, First USA Bank, CoreStates Bank, Air Products & Chemicals and Circuit City.

Alice Kwan, PrincipalAmericas Human Capital Lead - Life SciencesDeloitte Consulting LLP(212) 618-4504akwan@deloitte.com

Ms. Kwan is a principal in Deloitte Consulting’s Human Capital service area in the Northeast region. Alice also leads Deloitte’s Life Sciences and Health Care industry for the Hu-man Capital practice. She has over 15 years of consulting and HR experience. Alice focuses on large scale organiza-tional transformations and talent management implications. She utilizes technical expertise in project management, change management, HR strategy development and talent management. Alice has provided consulting services to global organizations in various industries with a focus on Pharmaceuticals.

Dave Rudini, PrincipalNortheast Human Capital LeadDeloitte Consulting LLP(212) 618-4686drudini@deloitte.com

David possesses more than 12 years of experience in human resources strategy consulting. David’s areas of expertise include human resources engineering and strategy devel-opment, HR outsourcing advisory services, organizational design, compensation and performance management program design, and implementation, change leadership, and alignment of human resource programs designed to improve people capability and organizational effectiveness. David has worked with clients in such various industries as pharmacuetical and medical devices, utilities, public sector, consumer services, banking, retail, manufacturing services, and not-for-profit. Clients he has served include AT&T, Tyco, Lucent, Avaya, Aetna, Chevron/Texaco, Boston Scientific, Merrill Lynch, and State of Florida.

Wyeth’s Leadership has engaged the organizations of Deloitte & Touche USA to perform various projects that have brought value to Wyeth and its shareholders. Below is a listing of projects that have recently been completed or are currently in progress.

Leading Thought Leadership in the Life Sciences Industry

9Copyright © 2007 Deloitte Development LLC. All rights reserved.

8Copyright © 2007 Deloitte Development LLC. All rights reserved.

Brining Value to Wyeth: A Record of Service

Deloitte & Touche USA Engagements

• HR Service Delivery Model (SDM)• Headquarters Property Tax Evaluation

Completed

In Progress

• Consumer Trade Promotions Management (TPM)

• International Assignment Services (ExPat)

• Development of Wyeth’s Privacy Office

Wyeth’s Leadership has engaged the organizations of Deloitte & Touche USA to perform various projects that have brought value to Wyeth and its shareholders. Below is a listing of projects that have recently been completed or are currently in progress.

JJ3

Our Leadership Team for Wyeth Our Industry-Leading Life Sciences Practice

Bringing Value to Wyeth: A Record of Service