<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 2)
Under the Securities Exchange Act of 1934
Visible Genetics Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Shares, without par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
92829S104
- --------------------------------------------------------------------------------
(CUSIP Number of Class of Securities)
Stephen Distler
E.M. Warburg, Pincus & Co., LLC
466 Lexington Avenue
New York, New York 10017
(212) 878-0600
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Copies to:
Peter H. Jakes, Esq.
Willkie Farr & Gallagher
787 Seventh Avenue
New York, NY 10019-6099
(212) 728-8000
February 16, 2000
- --------------------------------------------------------------------------------
(Date of Event which Requires
Filing of this Schedule)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(b)(3) or (4), check the following: [ ]
<PAGE>
SCHEDULE 13D
- ------------------- ------------------
CUSIP No. 92829S104 Page 2 of 18 Pages
- ------------------- ------------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Warburg, Pincus Equity Partners, L.P. I.D. #13-3986317
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
0
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 1,359,738
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,359,738
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
1,359,738
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.9%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
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CUSIP No. 92829S104 Page 3 of 18 Pages
- ------------------- ------------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Warburg, Pincus & Co. I.D. #13-6358475
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
12,308
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 2,877,746
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
12,308
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,877,746
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
2,890,054
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.9%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
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CUSIP No. 92829S104 Page 4 of 18 Pages
- ------------------- ------------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
E.M. Warburg, Pincus & Co., LLC I.D. #13-3536050
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
0
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 2,877,746
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,877,746
- ---------- ---------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
2,877,746
- ---------- ---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ---------- ---------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.8%
- ---------- ---------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ------------------- ------------------
CUSIP No. 92829S104 Page 5 of 18 Pages
- ------------------- ------------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Warburg, Pincus Ventures International, L.P.
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ---------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
0
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 1,438,874
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,438,874
- ---------- ---------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
1,438,874
- ---------- ---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ---------- ---------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.4%
- ---------- ---------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
This Amendment No. 2 (the "Amendment") amends the Amendment No. 1 to the
Schedule 13D, filed on January 10, 2000, which amended the Schedule 13D filed on
July 22, 1999 (the "Schedule 13D"). The Amendment is being filed on behalf of
Warburg, Pincus Equity Partners, L.P., a Delaware limited partnership ("WPEP"),
Warburg, Pincus Ventures International, L.P., a Bermuda limited partnership
("WPVI"), Warburg, Pincus & Co., a New York general partnership ("WP"), and E.M.
Warburg, Pincus & Co., LLC, a New York limited liability company ("EMW" and,
together with WPEP, WPVI and WP, the "Reporting Entities"). This Amendment
relates to the common shares, without par value, of Visible Genetics Inc., an
Ontario, Canada corporation (the "Company"). Unless the context otherwise
requires, references herein to the "Common Stock" are to the common shares of
Visible Genetics Inc., without par value. The holdings of Common Stock of WP and
EMW in this Amendment include certain shares of Common Stock which may be deemed
to be beneficially owned by Warburg, Pincus Netherlands Equity Partners I, C.V.
("WPNEPI"), Warburg, Pincus Netherlands Equity Partners II, C.V. ("WPNEPII") and
Warburg, Pincus Netherlands Equity Partners III, C.V. ("WPNEPIII" and, together
with WPNEPI, WPNEPII, WPVI and WPEP, the "Investors"). WP, EMW and the Investors
are referred to herein as the "Group Members."
6
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Unless otherwise indicated herein, each capitalized term used but not
defined herein shall have the meaning assigned to such term in the Schedule 13D.
Item 5.
- -------
Item 5 of the Schedule 13D is hereby amended to read as follows:
"(a) The Reporting Entities beneficially own shares of Common Stock of the
Company by virtue of their ownership of Common Stock and Series A Preferred
Shares. They formerly also held Warrants to purchase Common Stock, which were
exercised on February 17, 2000, as described below. On February 17, 2000,
pursuant to a net exercise provision of the Warrants, the Reporting Entities
received the aggregate amount of 847,749 shares of Common Stock. Also, on
February 16, WPVI distributed a total of 600,000 shares to its partners and on
February 17, WPEP and its three related Dutch entities distributed 599,998
shares to their respective partners (the "Distribution").
As of February 18, 2000, WP and EMW each beneficially owned 2,890,054
shares and 2,877,746 shares of Common Stock, respectively. Also as of this date,
WPEP and WPVI beneficially owned 1,359,738 shares of Common Stock, and 1,438,874
shares of Common Stock, respectively. Of the shares beneficially owned by WP and
EMW, 79,134 shares represent the aggregate Common Stock beneficially held by
WPNEPI, WPNEPII
7
<PAGE>
and WPNEPIII. By reason of WP's and EMW's respective relationships with the
Investors, under Rule 13d-3 under the Exchange Act, WP and EMW may be deemed to
own beneficially all of the shares of Common Stock which are beneficially owned
by these entities.
Assuming full conversion of the Series A Preferred Shares held by the
Investors (giving effect to dividend accruals through December 31, 1999), as of
February 18, 2000, the 2,890,054 shares of Common Stock beneficially held by the
Reporting Entities represented approximately 18.9% of the sum of the outstanding
shares of Common Stock (based on the 12,446,380 shares of Common Stock
outstanding as of February 18, 2000) together with the 2,849,995 shares of
Common Stock issuable upon conversion of the Series A Preferred Stock held by
the Reporting Entities. Assuming full conversion of the Series A Preferred
Shares, as of February 18, 2000, the 1,438,874 shares of Common Stock
beneficially held by WPVI represented approximately 10.4% of the sum of the
12,446,380 outstanding shares of Common Stock and the 1,424,999 shares issuable
on conversion of the Series A Preferred Stock held by WPVI. Assuming full
conversion of the corresponding Series A Preferred Shares, as of February 18,
2000, the 1,359,738 shares of Common Stock beneficially held by WPEP represented
approximately 9.9% of the sum of the 12,446,380 outstanding shares of Common
Stock and the 1,346,624 shares of Common Stock issuable on conversion of the
Series A Preferred Stock held by WPEP.
8
<PAGE>
As of February 18, 2000 assuming full conversion of the Series A Preferred
Shares held by such entities, WPNEPI, WPNEPII and WPNEPIII held beneficial
ownership of an aggregate of 79,134 shares of Common Stock, which is 0.6% of the
sum of 12,466,380 and 78,372 shares of Common Stock issuable on conversion of
the Series A Preferred Stock held by WPNEPI, WPNEPII and WPNEPIII.
(b) WPEP and WPVI have beneficial ownership over 1,359,738 and 1,438,874
shares of Common Stock, respectively. WPNEPI, WPNEPII and WPNEPIII have
beneficial ownership of an aggregate of 79,134 shares of Common Stock. WPEP,
WPVI, WPNEPI, WPNEPII and WPNEPIII each share voting power and dispositive power
over their holdings of such shares with EMW and WP.
(c) Except as reported in this Amendment and on Amendment #1 to the
Schedule 13D, during the last sixty days there were no transactions effected by
the Reporting Entities or by any of the persons set forth on Schedule I hereto.
(d) Except as set forth in this Item 5, no person other than each
respective record owner referred to herein of securities is known to have the
right to receive or the power to direct the receipt of dividends from, or the
proceeds from the sale of, such securities.
9
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(e) Not applicable."
10
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: February 22, 2000 WARBURG, PINCUS EQUITY
PARTNERS, L.P.
By: Warburg, Pincus & Co.,
General Partner
By: /s/ Stephen Distler
------------------------------
Stephen Distler
Partner
Dated: February 22, 2000 WARBURG, PINCUS & CO.
By: /s/ Stephen Distler
------------------------------
Stephen Distler
Partner
Dated: February 22, 2000 E.M. WARBURG, PINCUS & CO., LLC
By: /s/ Stephen Distler
------------------------------
Stephen Distler
Member
Dated: February 22, 2000 WARBURG, PINCUS VENTURES
INTERNATIONAL, L.P.
By: Warburg, Pincus & Co.,
General Partner
By: /s/ Stephen Distler
------------------------------
Stephen Distler
Partner
11
<PAGE>
SCHEDULE I
----------
Set forth below is the name, position and present principal occupation of
each of the general partners of WP and members of EMW. WP is the sole general
partner of WPEP, WPVI, WPNEPI, WPNEPII and WPNEPIII. Except as otherwise
indicated, the business address of each of such persons is 466 Lexington Avenue,
New York, New York 10017, and each of such persons is a citizen of the United
States.
GENERAL PARTNERS OF WP
----------------------
- ----------------------------- --------------------------------------------------
PRESENT PRINCIPAL OCCUPATION IN ADDITION
TO POSITION WITH WP, AND POSITIONS
NAME WITH THE REPORTING ENTITIES
- ----------------------------- --------------------------------------------------
Joel Ackerman Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
Harold Brown Partner of WP; Member and Senior Managing
Director of EMW LLC
- ----------------------------- --------------------------------------------------
W. Bowman Cutter Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
Cary J. Davis Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
Stephen Distler Partner of WP; Member, Managing Director and
Treasurer of EMW LLC
- ----------------------------- --------------------------------------------------
Stewart K. P. Gross Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
Patrick T. Hackett Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
Jeffrey A. Harris Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
William H. Janeway Partner of WP; Member and Senior Managing
Director of EMW LLC
12
<PAGE>
- ----------------------------- --------------------------------------------------
Douglas M. Karp Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
Charles R. Kaye Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
Henry Kressel Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
Joseph P. Landy Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
Sidney Lapidus Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
Kewsong Lee Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
Jonathan S. Leff Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
Reuben S. Leibowitz Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
David E. Libowitz Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
Nancy Martin Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
Edward J. McKinley Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
Rodman W. Moorhead III Partner of WP; Member and Senior Managing
Director of EMW LLC
- ----------------------------- --------------------------------------------------
Howard H. Newman Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
Gary D. Nusbaum Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
Dalip Pathak Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
Lionel I. Pincus Managing Partner of WP; Managing Member,
Chairman of the Board and Chief Executive
Officer of EMW LLC
- ----------------------------- --------------------------------------------------
John D. Santoleri Partner of WP; Member and Managing Director
of EMW LLC
13
<PAGE>
- ----------------------------- --------------------------------------------------
Henry B. Schact Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
Steven G. Schneider Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
James E. Thomas Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
John L. Vogelstein Partner of WP; Member and Vice Chairman of
EMW LLC
- ----------------------------- --------------------------------------------------
Elizabeth H. Weatherman Partner of WP; Member and Managing Director
of EMW LLC
- ----------------------------- --------------------------------------------------
Pincus & Co.*
- ----------------------------- --------------------------------------------------
NL & Co.**
- ----------------------------- --------------------------------------------------
- ---------------------
* New York limited partnership; primary activity is ownership interest in WP
and EMW LLC.
** New York limited partnership; primary activity is ownership interest in WP.
As of 12/14/99
14
<PAGE>
MEMBERS OF EMW LLC
------------------
- ----------------------------- --------------------------------------------------
PRESENT PRINCIPAL OCCUPATION IN ADDITION
TO POSITION WITH EMW LLC, AND POSITIONS
WITH THE REPORTING ENTITIES
NAME
- ----------------------------- --------------------------------------------------
Joel Ackerman Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
Frank M. Brochin (3) Member and Managing Director of EMW LLC
- ----------------------------- --------------------------------------------------
Harold Brown Member and Senior Managing Director of EMW
LLC; Partner of WP
- ----------------------------- --------------------------------------------------
W. Bowman Cutter Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
Cary J. Davis Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
Stephen Distler Member, Managing Director, and Treasurer of
EMW LLC; Partner of WP
- ----------------------------- --------------------------------------------------
Tetsuya Fukagawa (5) Member and Managing Director of EMW LLC
- ----------------------------- --------------------------------------------------
Stewart K. P. Gross Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
Patrick T. Hackett Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
Jeffrey A. Harris Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
Roberto Italia (6) Member and Managing Director of EMW LLC
- ----------------------------- --------------------------------------------------
William H. Janeway Member and Senior Managing Director of EMW
LLC; Partner of WP
15
<PAGE>
- ----------------------------- --------------------------------------------------
Douglas M. Karp Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
Charles R. Kaye Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
Henry Kressel Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
Rajiv B. Lall (1) Member and Managing Director of EMW LLC
- ----------------------------- --------------------------------------------------
Joseph P. Landy Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
Sidney Lapidus Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
Jonathan S. Leff Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
Kewsong Lee Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
Reuben S. Leibowitz Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
David E. Libowitz Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
Nicholas J. Lowcock (3) Member and Managing Director of EMW LLC
- ----------------------------- --------------------------------------------------
John W. MacIntosh (2) Member and Managing Director of EMW LLC
- ----------------------------- --------------------------------------------------
Nancy Martin Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
Edward J. McKinley Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
James McNaught-Davis (3) Member and Managing Director of EMW LLC
- ----------------------------- --------------------------------------------------
Rodman W. Moorhead III Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
Howard H. Newman Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
Gary D. Nusbaum Member and Managing Director of EMW LLC;
Partner of WP
16
<PAGE>
- ----------------------------- --------------------------------------------------
Dalip Pathak Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
Lionel I. Pincus Managing Member, Chairman of the Board and
Chief Executive of EMW LLC; Managing
Partner of WP
- ----------------------------- --------------------------------------------------
John D. Santoleri Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
Henry B. Schact Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
Steven G. Schneider Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
Dominic H. Shorthouse (3) Member and Managing Director of EMW LLC
- ----------------------------- --------------------------------------------------
Chang Q. Sun (4) Member and Managing Director of EMW LLC
- ----------------------------- --------------------------------------------------
James E. Thomas Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
John L. Vogelstein Member and Vice Chairman of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
Elizabeth H. Weatherman Member and Managing Director of EMW LLC;
Partner of WP
- ----------------------------- --------------------------------------------------
Jeremy S. Young (3) Member and Managing Director of EMW LLC
- ----------------------------- --------------------------------------------------
Pincus & Co.*
- ----------------------------- --------------------------------------------------
- ---------------------
(1) - Citizen of India
(2) - Citizen of Canada
(3) - Citizen of United Kingdom
(4) - Citizen of China
(5) - Citizen of Japan
(6) - Citizen of Italy
17
<PAGE>
* New York limited partnership; primary activity is ownership interest in WP and
EMW LLC
As of 12/14/99
18
