Today, IBM Life Sciences announced that it has forged one of its most
important alliances -- with a leading software company that will allow
chemists and biologists to develop new drugs faster, more efficiently, and
at lower costs.

Accelrys -- perhaps the most important software vendor in the
rapidly-growing life sciences market segment -- will make IBM its
technology partner, with IBM eServer systems and DiscoveryLink the
platforms of choice for its complete spectrum of drug discovery and drug
development applications. Accelrys will lead with the IBM servers --
including "Regatta" UNIX servers and IBM Linux clusters -- as well as
DiscoveryLink data integration software.

This announcement is especially significant because it will result in
powerful IT solutions that will touch literally every part of a
pharmaceutical company's research and development organization, offering
new efficiencies and shrinking the drug discovery process.

Stacy Simpson
Media Relations
IBM Corporation
Route 100, Somers, NY  10589
Ph: 914-766-4123 (t/l: 826-4123)
E: stacysim@us.ibm.com

                                   01/07/2002

        IBM and Accelrys Form Global Strategic Alliance to Transform Drug
                            Research and Development
      Broad-reaching Commitment To Direct IT Resources Toward Helping Drug
                        Makers Shorten Development Cycles

      ARMONK, N.Y., and SAN DIEGO, January 7, 2002 . . . IBM (NYSE:  IBM)
and Accelrys, Inc., a wholly owned subsidiary of Pharmacopeia, Inc.
(NASDAQ:  PCOP), today announced a global strategic alliance to enhance
drug research and development (R&D) operations by creating a collaborative
information technology environment for chemists and biologists to develop
new drugs faster, more efficiently, and at lower costs.

      Through the agreement, Accelrys, one of the world's leading software
developers in life sciences, will become a premier partner in IBM's
PartnerWorld for Developers Program, a status reserved for top-tier
strategic alliance partners.

      IBM and Accelrys will team up, with each company contributing key
technologies, to help pharmaceutical and biotechnology companies and
medical research centers improve their R&D operations and shorten the
development cycle for new drugs.

      "This alliance represents one of the most significant and influential
relationships for IBM in life sciences," said Dr. Caroline Kovac, general
manager, IBM Life Sciences.  "IBM and Accelrys share the common goal of
developing innovative technology solutions that will benefit the life
sciences community and accelerate drug discovery and development.  Our
relationship will leverage IBM's cutting-edge supercomputing technologies
and Accelrys' broad software expertise to drive the new levels of
efficiency in pharmaceutical R&D."

Alliance Highlights

      Under the terms of the four-year alliance, IBM becomes Accelrys'
preferred information technology and services partner for life sciences.
IBM's eServer* systems will be Accelrys' server family of choice for life
sciences applications.

      Through its collaboration with IBM, Accelrys will accelerate the
delivery of its Discovery Studio** platform, which promises to be the
industry's first technology platform to fully support the entire drug
discovery process.  Discovery Studio is a set of Accelrys technologies that
will offer broad access to key life sciences applications, while enabling
effective capture and reuse of critical scientific information and
knowledge, whether generated by Accelrys' portfolio of software products,
in-house or by third parties.

      "The drug industry is asking for a consolidated, integrated platform
for sharing data and knowledge," said Dr. Michael Stapleton, chief
operating officer and executive vice president of Accelrys.  "We chose IBM
as our technology partner because of their commitment to the market we
serve and their strength in high-performance computing, software, and
services that align with our goals.  Through IBM's and Accelrys'
complementary technologies, we can help customers increase the productivity
of their drug development efforts and get more successful drug candidates
through the development cycle faster."

Other key elements of the alliance include:

--  Accelrys will enable its software applications to run optimally on IBM
eServer systems for UNIX, Windows NT*** and Linux***.   Accelrys
applications, which support R&D processes ranging from early isolation of
target genes and proteins associated with particular diseases, through
synthesizing chemical compounds that will work on these targets, to
pre-clinical testing and drug delivery, are used by virtually every major
pharmaceutical and most major biotechnology and chemical companies.

--  Accelrys becomes a premier member of IBM's PartnerWorld for Developers
Program (www.developer.ibm.com), which offers business partners a wide
range of sales, education, training, and technical support programs. This
worldwide program is designed to help software developers reach broader
markets faster and lower their costs of doing business.

-- Accelrys will use IBM eServer p690 (code named "Regatta") systems
running AIX*, IBM eServer xSeries* systems running Linux and Windows NT,
and the IBM eServer Cluster 1300 Linux system for software development,
testing and knowledge management applications.

--  Accelrys will combine IBM DiscoveryLink* data integration technology
with the new Discovery Studio platform.

--  IBM and Accelrys will jointly market Discovery Studio offerings for IBM
platforms and middleware.

--  IBM and Accelrys will provide a range of joint consulting and
implementation services for deploying solutions that combine mutual
technologies.

      "This announcement is the latest example of how the emerging
bioscience sector is a major catalyst for growth in high-performance
technical computing, in the same way that the application of simulation and
modeling was to defense, manufacturing and petroleum in years past," said
Debra Goldfarb, group vice president, International Data Corporation.  "The
IBM-Accelrys alliance should be welcome news in an industry feeling
tremendous pressure to innovate, and could result in impressive market
share gains for both companies."

      According to the TOP500 Supercomputer list (www.top500.org), IBM
systems account for 160 of the world's 500 most powerful high-performance
computers and half of the top 10 more powerful machines -- more than any
other vendor.  The list was published in November 2001 by supercomputing
experts Jack Dongarra from the University of Tennessee and Erich Strohmaier
and Hans Meuer of the University of Mannheim (Germany).

   "Life science IT solutions will have dramatic growth in the next several
years," said Dorman Followwill, Vice President, HealthCare, Frost &
Sullivan. "This reflects the historic convergence of IT and biology, where
the limits of biology now equal the limits of computing.  It is difficult
to overstate the future role of IT in modernizing the drug discovery and
development process through high-performance computing, services and
software for translating reams of genomic/proteomic data into clinically
useful information.  IBM and Accelrys are well positioned to lead the way
in this space."

About IBM

      IBM Life Sciences brings together IBM resources, from research,
services and e-business expertise to data and storage management and
high-performance computing, to offer new solutions for the life sciences
market, including biotechnology, genomic, e-health, pharmaceutical, and
agri-science industries.  The fastest way to get more information about IBM
Life Sciences is through its Web site,
http://www.ibm.com/solutions/lifesciences.


About Accelrys

      Accelrys is a leading provider of software for computation,
simulation and the management and mining of scientific data used by
biologists, chemists, and materials scientists for product design, drug
discovery, and development.  Accelrys' platform technology and consulting
services enable enterprise-wide solutions tailored to today's leading
research organizations.  The company's three main centers of excellence are
in San Diego, CA, Princeton, NJ, and Cambridge, UK. These centers combine
research and product development with facilities to support significant
collaborative projects.  Technology centers in Madison, WI, and Leeds, UK
house expert product development teams focused on informatics products.
Accelrys is a subsidiary of Pharmacopeia, Inc. (Nasdaq: PCOP).  Accelrys
was launched in June 2001, combining leading software companies Molecular
Simulations Inc., Synopsys Scientific Systems, Oxford Molecular, GCG, and
Synomics Ltd.  More information on Accelrys can be found at
http://www.accelrys.com.


                              #     #     #

*     Indicates trademark or registered trademark of IBM Corporation.
**    Indicates trademark or registered trademark of Accelrys, Inc.
***   Indicates trademark or registered trademark.


   Safe Harbor Statement
When used anywhere in this document, the words "expects," "believes,"
"anticipates," "estimates" and similar expressions are intended to identify
forward-looking statements.  Forward-looking statements herein may include
statements addressing future financial and operating results of
Pharmacopeia and the timing, benefits and other aspects of the proposed
merger.  Pharmacopeia has based these forward-looking statements on its
current expectations about future events.  Such statements are subject to
risks and uncertainties including, but not limited to, the successful
implementation of Pharmacopeia's strategic plans, the acceptance of new
products, the obsolescence of existing products, the resolution of existing
and potential future patent issues, additional competition, changes in
economic conditions, and other risks described in documents Pharmacopeia
has filed with the SEC, including its most recent report on Form 10-K and
subsequent reports on Form 10-Q.  All forward-looking statements in this
document are qualified entirely by the cautionary statements included in
this document and such filings. These risks and uncertainties could cause
actual results to differ materially from results expressed or implied by
forward-looking statements contained in this document.  These
forward-looking statements speak only as of the date of this document.
Pharmacopeia disclaims any undertaking to publicly update or revise any
forward-looking statements contained herein to reflect any change in its
expectations with regard thereto or any change in events, conditions or
circumstances on which any such statement is based.