2006

The Board of Directors met six times in 2006, four regularly scheduled meetings and two special meetings, and acted by unanimous written consent four times. During 2006, all Directors, except Dr. Reed, attended at least 75% of the meetings of the Board and the committees on which they served. Dr. Reed attended 75% of all the regularly scheduled meetings and 50% of all of the special meetings, due to scheduling conflicts. We encourage each member of the Board to attend the Annual Meeting of Stockholders. Last year, Dr. Crooke, Mr. Klein, Ms. Parshall and Dr. Reed attended our 2006 Annual Meeting of Stockholders.

2005

The Board of Directors met five times in 2005, four regularly scheduled meetings and one special meeting, and acted by unanimous written consent six times. During 2005, all Directors attended at least 80% of the meetings of the Board and the committees on which they served, except Mr. Gabrieli who attended only 33% of the Audit Committee meetings due to personal schedule conflicts. We encourage each member of the Board to attend the Annual Meeting of Stockholders. None of our Board members, other than Dr. Crooke and Ms. Parshall, attended our 2005 Annual Meeting of Stockholders.

2004

The Board of Directors met four times in 2004, all at regularly scheduled meetings, and acted by unanimous written consent five times. During 2004, all Directors attended at least 80% of the meetings of the Board and the committees on which they served. As part of each Board meeting, our independent Directors meet in executive session without the presence of our employee Directors. The Chairpersons of the Audit Committee, the Compensation Committee and the Nominating, Governance and Review Committee will each preside over at least one executive session. Persons interested in communicating with the independent Directors about their concerns or issues may address correspondence to a particular Director or to the independent Directors generally, in care of Isis Pharmaceuticals, Inc., 1896 Rutherford Road, Carlsbad, CA 92008. If no particular Director is named, letters will be forwarded, depending on the subject matter, to the Chair of the Audit, Compensation, or Nominating, Governance and Review Committee.