CVS Corporation and Caremark Rx Provide Update on Closing of Merger

  
    
  
  
    
      CVS Corporation (NYSE:CVS) and Caremark Rx, Inc. (NYSE:CMX) today issued 
      the following update regarding the closing date for the CVS/Caremark 
      merger:
    
    
      “We have been advised by the independent 
      inspector of election that the preliminary results of the Caremark 
      shareholder vote certification are likely to be available Wednesday, 
      March 21st, or Thursday, March 22nd. Therefore, the closing of the 
      CVS/Caremark merger is now expected to occur by late this week or early 
      next week.”
    
    
      As announced on March 16, 2007, a substantial majority of Caremark’s 
      shareholders approved the merger with CVS. CVS shareholders approved the 
      merger with Caremark on March 15, 2007.
    
    
      About CVS Corporation
    
    
      CVS Corporation (NYSE: CVS) is America's largest retail pharmacy, 
      operating approximately 6,200 retail and specialty pharmacy stores in 43 
      states and the District of Columbia. With more than 40 years of dynamic 
      growth in the retail pharmacy industry, CVS is committed to being the 
      easiest pharmacy retailer for customers to use. CVS innovatively serves 
      the healthcare needs of all customers through its CVS/pharmacy stores; 
      its online pharmacy, CVS.com; its retail-based health clinic subsidiary, 
      MinuteClinic; and its pharmacy benefit management, mail order and 
      specialty pharmacy subsidiary, PharmaCare. General information about CVS 
      is available through the Investor Relations portion of the Company's 
      website, at http://investor.cvs.com, 
      as well as through the pressroom portion of the Company's website, at www.cvs.com/pressroom.
    
    
      About Caremark
    
    
      Caremark is a leading pharmaceutical services company, providing through 
      its affiliates comprehensive drug benefit services to over 2,000 health 
      plan sponsors and their plan participants throughout the U.S. The 
      company's clients include corporate health plans, managed care 
      organizations, insurance companies, unions, government agencies and 
      other funded benefit plans. In addition, Caremark is a national provider 
      of drug benefits to eligible beneficiaries under the Medicare Part D 
      program. The company operates a national retail pharmacy network with 
      over 60,000 participating pharmacies, seven mail service pharmacies, the 
      industry's only FDA-regulated repackaging plant and 21 licensed 
      specialty pharmacies for delivery of advanced medications to individuals 
      with chronic or genetic diseases and disorders.
    
    
      Additional information about Caremark is available at www.caremark.com 
      and at www.cvscaremarkmerger.com.