CORRECTION - 3M Company Provides Update on BacLite Product Support Dispute Case with Porton in UK and US

UPDATED TO REFLECT RECENT ANNOUNCEMENTS. 3M Company announced that with respect to the case concerning 3M’s decision to cease its support for BacLite, a product it acquired from Acolyte Biomedica Limited in 2007, the London High Court reaffirmed a decision, dated November 7, 2011, that Porton will receive $1.3 million in damages. Porton Technology Fund, Porton Capital, Inc. (together, Porton) and Ploughshare Innovations Limited, a subsidiary of the U.K. Ministry of Defence (collectively Claimants), investors in Acolyte, filed a lawsuit in December 2008 against 3M for breach of contract seeking approximately $40 million in damages for loss of projected sales from BacLite. A 24-day bench trial occurred from June 15-July 18, 2011. According to 3M, the High Court ordered Porton to pay the litigation fees and costs that 3M incurred in the lawsuit after March 3, 2011. The order resolves the claims in the U.K. High Court. US District Judge Robert L. Wilkins dismissed claims filed by 3M in the US against the Davis and Porton Defendants on February 2, 2012, with the exception of count 4 for commercial defamation against the Davis Defendants, which was upheld.