Medtronic Provides Revenue and EPS Guidance for Fiscal Year 2010

MINNEAPOLIS--(Business Wire)--
Medtronic, Inc. (NYSE:MDT) today provided revenue and diluted earnings per share
(EPS) guidance for fiscal year 2010.

For fiscal year 2010, the company expects revenue growth in the range of 5-8
percent on a constant currency basis. The company also expects diluted earnings
per share (EPS) in the range of $3.10 to $3.20, which reflects EPS growth in the
range of 8-12 percent after adjusting for approximately 6-7 cents of earnings
dilution from the recent acquisitions of CryoCath, Ablation Frontiers, Ventor,
and CoreValve.

Earnings per share estimates exclude the effect of any special or extraordinary
charges that may impact the company`s continuing operations and do not include
the impact of the new accounting method for recognizing non-cash interest
expense on convertible debt. Medtronic`s guidance is limited to one year at a
time and is more directional in nature. The guidance provided only reflects
information available to the company at this time.

About Medtronic

Medtronic, Inc., headquartered in Minneapolis, is the world`s leading medical
technology company, alleviating pain, restoring health and extending life for
people with chronic disease. Its Internet address is www.medtronic.com.

This press release contains forward-looking statements regarding our operating
results and acquisitions, which are subject to risks and uncertainties, such as
competitive factors, difficulties and delays inherent in the development,
manufacturing, marketing and sale of medical products, government regulation and
general economic conditions and other risk and uncertainties described in
Medtronic`s Annual Report on Form 10-K for the year ended April 25, 2008.Actual
results may differ materially from anticipated results.Medtronic does not
undertake to update its forward-looking statements.

MEDTRONIC, INC.
RECONCILIATION OF CONSOLIDATED NON-GAAP DILUTED EPS GUIDANCE
TO CONSOLIDATED GAAP DILUTED EPS GUIDANCE
(Unaudited)

2010

Non-GAAP diluted earnings per share guidance $ 3.10-3.20

Incremental non-cash interest expense impact (0.10 ) (a)
GAAP diluted earnings per share guidance $ 3.00-3.10

(a) The $0.10 per share impact on 2010 diluted earnings per share guidance is a
result of the incremental non-cash interest expense from our required fiscal
year 2010 adoption of FSP APB 14-1, "Accounting for Convertible Debt Instruments
That May Be Settled in Cash upon Conversion (Including Partial Cash
Settlement)."

Medtronic, Inc.
Jeff Warren, 763-505-2696
Investor Relations
or
Steve Cragle, 763-505-2345
Public Relations

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