[EYETECH LOGO]


FOR IMMEDIATE RELEASE

Contacts:  Eyetech Pharmaceuticals, Inc.                  Pfizer Inc
           Karin Hehenberger M.D., Ph.D.                  Daniel Watts
           Office: (212) 824-3176                         Office: (212) 733-3835
           Fax : (212) 824-3240
           Email : karin.hehenberger@eyetech.com
           www.eyetech.com

     Eyetech/Pfizer Announce FDA Acceptance of the New Drug Application for
                    Macugen(TM)(pegaptanib sodium injection)

 The First Investigational Anti-VEGF Therapy for Neovascular Age-Related Macular
                      Degeneration Granted Priority Review

NEW YORK, August 17, 2004-- Eyetech Pharmaceuticals, Inc. (Nasdaq: EYET) and
Pfizer Inc (NYSE: PFE) today announced that their complete New Drug Application
(NDA) for Macugen(TM) (pegaptanib sodium injection) has been accepted by the
U.S. Food and Drug Administration (FDA). The acceptance of the NDA satisfied a
milestone provision in our collaboration agreement for a further license fee
payment from Pfizer to Eyetech of $10 million. Eyetech and Pfizer are partnering
to develop and market Macugen, a treatment for neovascular age-related macular
degeneration, the leading cause of severe vision loss in patients older than 50
years of age in the developed world.

As part of the Macugen NDA filing, Eyetech and Pfizer requested and have now
been granted Priority Review designation from the FDA. Based on the Priority
Review designation, the FDA has six months from the submission date, to take
action on the NDA filing. The companies submitted the final portion of the NDA,
the chemistry, manufacturing and controls (CMC) component, on June 17, under the
FDA's Fast Track



Eyetech/Pfizer Announce FDA Acceptance of the New Drug Application for
Macugen(TM)(pegaptanib sodium injection)
Page 2 of 3

designation. The FDA and its Dermatologic and Ophthalmic Drugs Advisory
Committee will review Macugen on August 27, 2004.

Macugen is a pegylated anti-VEGF aptamer, which binds to and thus inhibits the
activity of vascular endothelial growth factor (VEGF). VEGF is a protein that
plays a critical role in angiogenesis (the formation of new blood vessels) and
increased permeability (leakage from blood vessels), two of the primary
pathological processes responsible for the vision loss associated with
neovascular AMD.


About Eyetech Pharmaceuticals, Inc.

Eyetech Pharmaceuticals, Inc. is a biopharmaceutical company that specializes in
the development and commercialization of novel therapeutics to treat diseases of
the eye. Eyetech's initial focus is on diseases affecting the back of the eye.
The company's most advanced product candidate is Macugen(TM) (pegaptanib sodium
injection), which Eyetech is developing with Pfizer Inc for the prevention and
treatment of diseases of the eye and related conditions. Eyetech's lead clinical
trials include two phase 2/3 pivotal clinical trials for the use of Macugen in
the treatment of neovascular age-related macular degeneration, a phase 2
clinical trial for the use of Macugen for the treatment of diabetic macular
edema and a phase 2 clinical trial for the use of Macugen in the treatment of
retinal vein occlusion.


About Pfizer Inc

Pfizer Inc discovers, develops, manufactures and markets leading prescription
medicines for humans and animals in many of the world's best- known consumer
brands. For more information about Pfizer, please see http://www.pfizer.com.


About Pfizer Ophthalmics

Pfizer Ophthalmics, a division of Pfizer Inc, is dedicated to preserving sight
and preventing blindness in patients with ocular diseases.



Eyetech/Pfizer Announce FDA Acceptance of the New Drug Application for
Macugen(TM)(pegaptanib sodium injection)
Page 3 of 3

Eyetech Safe Harbor Statement

This press release contains forward-looking statements that involve substantial
risks and uncertainties. All statements, other than statements of historical
facts, included in this press release regarding our plans and objectives of
management are forward-looking statements. We may not actually achieve the
plans, intentions or expectations disclosed in our forward-looking statements
and you should not place undue reliance on our forward-looking statements.
Actual results or events could differ materially from the plans, intentions and
expectations disclosed in the forward-looking statements we make. Various
important factors could cause actual results or events to differ materially from
the forward-looking statements that we make, including risks related to: new
information arising out of the preliminary clinical trial results, our heavy
dependence on the success of Macugen, which is still under development; our
dependence on our strategic collaboration with Pfizer; obtaining regulatory
approval to market Macugen and any other products that we may develop in the
future; our dependence on third parties to manufacture Macugen; obtaining,
maintaining and protecting the intellectual property incorporated into our
product candidates; and our ability to obtain additional funding to support our
business activities. These and other risks are described in greater detail in
the "Risk Factors" section of our most recent quarterly report on Form 10-Q
filed with the SEC. Our forward-looking statements do not reflect the potential
impact of any future acquisitions, mergers, dispositions, joint ventures or
investments we may make. We do not assume any obligation to update any
forward-looking statements.

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SOURCE:  Eyetech Pharmaceuticals, Inc.; Pfizer Inc