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PROXY–Invitrogen Corp.

invitrogen Corp. develops, manufactures and markets research tools in kit form and provides research services to corporate, academic and government entities.


Total number of shares outstanding as of April 13, 2000 23,000,000

Price of each common share as of April 13, 2000 $50.56

Aggregate market value as of April 13, 2000 $116,288,000

Performance Record

For year ended Dec. 31, in thousands, except per-share data

1999 1998 1997

Revenues $68,312 $53,660 $41,182

Net income (loss) $6,665 $4,230 $2,435

Net income (loss) per share $0.40 $0.23 $(1.15)

Total assets $135,544 $32,050 $23,947


James Glynn became a senior vice president of corporate development, CFO and director of Invitrogen in June 1998 and had previously served as director in 1995. In September 1999, he also became an executive vice president. He is also a director of Matrix Pharmaceutical, Inc.

Donald Grimm has served as director since June 1998. He is also chairman of Strategic Design, a strategic planning and consulting company.

Kurt Jaggers has served as director since June 1997. Since January 1997, he served as managing director of TA Associates, Inc., an equity investment firm.

Bradley Lorimier served as director since November 1998. He is also a director of Matrix Pharmaceutical, Inc.

David McCarty has served as director since August 1999.

Jay Short has served as director since February 1995. Since September 1994, he has served as CEO, president, chief technology officer and director. He is also a director of StressGen Biotechnologies Corp.

Lewis Shuster has served as COO since February 2000 and as director since June 1998.

Lyle Turner, a founder of Invitrogen, has served as president, CEO and chairman of the board of directors since February 1988.

Executive Compensation

Officers Cash Compensation

Lyle C. Turner, president, CEO $308,449

James R. Glynn, executive vice president and CFO $252,500

Significant Stock Ownership

Number of Shares Percent

Feb. 29, 2000

Lyle Turner 3,878,285 16.8

James Hudson 2,549,800 11.3

Putnam Investment Management, Inc. 1,391,995 6.0

Joseph Fernandez 1,230,869 5.3

Janus Capital Corp. 1,164,750 5.1

All directors and officers as a group (8 persons) 5,095,926 21.8

Other Information

Headquarters: 1600 Faraday Ave., Carlsbad, CA 92008; (760) 603-7200; fax (760) 603-7201; (www.invitrogen.com)

Auditors: Arthur Andersen LLP, San Diego

Information was compiled from the company’s 2000 annual report and 2000 proxy statement.


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