Intuitive Surgical Announces Proposed Public Offering of Common Stock Under Shelf Registration Statement

SUNNYVALE, Calif.--(BUSINESS WIRE)--Oct. 8, 2003--Intuitive Surgical, Inc. (Nasdaq:ISRG), the leader in operative surgical robotics, announced today that it intends to offer 5,000,000 shares of common stock in a public offering pursuant to an effective shelf registration statement.

Intuitive Surgical has granted the underwriters in the offering an option to purchase 750,000 shares of common stock to cover over-allotments. Bear, Stearns & Co. Inc. will act as lead manager for the offering. Deutsche Bank Securities Inc. and U.S. Bancorp Piper Jaffray Inc. will act as co-managers.

A shelf registration statement relating to these shares was originally filed with the Securities and Exchange Commission (the "SEC") on September 11, 2003 and has since been declared effective. The offering will be made pursuant to a prospectus supplement to the prospectus contained in the shelf registration statement, which prospectus supplement will be filed with the SEC. 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.

Copies of the preliminary prospectus supplement, when available, may be obtained from the Prospectus Department at Bear, Stearns & Co. Inc., 383 Madison Avenue, 4th Floor, New York, NY 10179.

About Intuitive's Products

The da Vinci(R) Surgical System consists of a surgeon's viewing and control console having an integrated, high-performance InSite(R) 3-D vision system, a patient-side cart consisting of three or four robotic arms that position and precisely maneuver endoscopic instruments and an endoscope, and a variety of articulating EndoWrist(R) Instruments. By integrating computer-enhanced technology with surgeons' technical skills, Intuitive believes that its system enables surgeons to perform better surgery in a manner never before experienced. The da Vinci(R) Surgical System seamlessly and directly translates the surgeon's natural hand, wrist and finger movements on instrument controls at the surgeon's console outside the patient's body into corresponding micro-movements of the instrument tips positioned inside the patient through small puncture incisions, or ports.

The Zeus(R) is an advanced microsurgery robotics suite, consisting of an ergonomic surgeon control console and three table-mounted robotic arms, which act as the surgeon's hands and eyes during endoscopic surgery.

The Aesop(R) Endoscope Positioner is a voice-activated robotic arm that automates the critical task of endoscope positioning, providing the surgeon with direct control over a smooth, precise and stable view of the internal surgical field.

The Socrates(TM) Robotic Telecollaboration System is an integrated array of telecommunication equipment, networked medical devices and robotics that provides an efficient and economical pathway to enable remote surgical telecollaboration.

The Hermes(R) Control Center is a centralized system designed to voice control a series of networked "smart" medical devices.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are necessarily estimates reflecting the best judgment of our management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These forward-looking statements should, therefore, be considered in light of various important factors, including the following: timing and success of product development and market acceptance of developed products; regulatory approvals, clearances and restrictions; guidelines and recommendations in the health care and patient communities; intellectual property positions and litigation; competition in the medical device industry and in the specific markets of surgery in which Intuitive Surgical operates; our ability to achieve anticipated synergies and cost savings of our acquisition of Computer Motion and the rate at which these anticipated synergies and costs savings are achieved; our ability to integrate the operations of Computer Motion with our operations, including the respective research and development operations, personnel, product lines and technology, and the rate at which the operations of the two companies are integrated; and unanticipated manufacturing disruptions, delays in regulatory approvals of new manufacturing facilities or the inability to meet demand for products. Words such as "estimate," "project," "plan," "intend," "expect," "anticipate," "believe" and similar expressions are intended to identify forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We undertake no obligation to publicly update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.

Intuitive(R), da Vinci(R), InSite(R), EndoWrist(R), Zeus(R), Hermes(R), and Aesop(R) are registered trademarks of Intuitive Surgical, Inc.

CONTACT: Intuitive Surgical, Inc. Ben Gong, 408-523-2175 Sarah Norton, 408-523-2161

SOURCE: Intuitive Surgical, Inc.