GlaxoSmithKline Holdings (Americas) Inc. - Page 1

                                   117 T.C. No. 1                                     

                               UNITED STATES TAX COURT                                

               GLAXOSMITHKLINE HOLDINGS (AMERICAS) INC., Petitioner v.                
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      

               Docket No. 3-01-D.                       Filed July 5, 2001.           

                    G and R (the applicants) filed a Joint Application                
               to Perpetuate Testimony Before Commencement of a Case                  
               (joint application) pursuant to Rule 82, Tax Court                     
               Rules of Practice and Procedure.  The applicants                       
               propose to take the depositions of two of G’s former                   
               executives, both of whom are septuagenarians, and both                 
               of whom reside in the United Kingdom.  The applicants                  
               agree that R is not likely to issue a notice of                        
               deficiency to G in the near future, that the testimony                 
               of the proposed deponents is critical to G’s issues                    
               under examination, and that a trial is likely but not                  
               until 2005 or 2006.                                                    
                    Held:  Because there is a reasonable expectation                  
               that the applicants will be adversaries in an action                   
               cognizable in this Court, and there is a significant                   
               risk that critical testimony will be unavailable when a                
               trial, if any, is commenced, the applicants’ joint                     
               application will be granted.                                           

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