Caremark Chief Executive Mac Crawford Named a Top-Performing CEO By Institutional Investor Magazine

  
    
  
  
    
      Caremark Rx, Inc. (NYSE: CMX) today announced that its Chairman, Chief 
      Executive Officer and President Mac Crawford has been named the 
      top-performing healthcare technology & distribution CEO by Institutional 
      Investor magazine, based on its survey of more than 1,000 analysts and 
      portfolio managers at 486 of the country’s 
      largest money management firms. Investors were asked to name the best 
      CEO in each of the sectors where they invest. This marks the third year 
      that Crawford has received this recognition.
    
    
      “It’s an honor to be 
      recognized by investors for our strong record of creating value. We are 
      continually focused on ways to grow our Company, better serve our 
      customers and enhance shareholder returns,” 
      stated Crawford. “We look forward to 
      continuing to generate value for our owners through the merger of equals 
      with CVS, which offers many compelling strategic and financial benefits.”
    
    
      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 www.CVSCaremarkMerger.com.
    
    
      Important Information for Investors and Stockholders
    
    
      CVS has filed with the SEC a registration statement on Form S-4 that was 
      declared effective by the SEC on January 19, 2007. This registration 
      statement includes a joint proxy statement/prospectus in connection with 
      the proposed merger. Caremark and CVS urge investors and stockholders to 
      read the joint proxy statement/prospectus and any other relevant 
      documents filed by either party with the SEC because they contain 
      important information.
    
    
      Investors and stockholders are currently able to obtain the joint proxy 
      statement/prospectus and other documents filed with the SEC free of 
      charge at the website maintained by the SEC at www.sec.gov. 
      In addition, documents filed with the SEC by Caremark will be available 
      free of charge on the investor relations portion of the Caremark website 
      at www.caremark.com. Documents 
      filed with the SEC by CVS will be available free of charge on the 
      investor relations portion of the CVS website at http://investor.cvs.com. 
      Investors and stockholders may obtain a detailed list of names, 
      affiliations and interests of participants in the solicitation of 
      proxies of Caremark stockholders to approve the merger at the following 
      address: Innisfree M&A Incorporated, 501 Madison Avenue, 20th Floor, New 
      York, New York 10022.
    
    
      Caremark, and certain of its directors and executive officers may be 
      deemed to be participants in the solicitation of proxies from its 
      stockholders in connection with the merger. A description of the 
      interests of Caremark’s directors and 
      executive officers in Caremark is set forth in the proxy statement for 
      Caremark’s 2006 annual meeting of 
      stockholders, which was filed with the SEC on April 7, 2006. CVS, and 
      certain of its directors and executive officers may be deemed to be 
      participants in the solicitation of proxies from the stockholders of CVS 
      in connection with the merger. A description of the interests of CVS’s 
      directors and executive officers in CVS is set forth in the proxy 
      statement for CVS’s 2006 annual meeting of 
      stockholders, which was filed with the SEC on March 24, 2006.
    
    
      If and to the extent that any of the Caremark or CVS participants will 
      receive any additional benefits in connection with the merger that are 
      unknown as of the date of this filing, the details of those benefits are 
      described in the definitive joint proxy statement/prospectus relating to 
      the merger. Investors and stockholders can obtain more detailed 
      information regarding the direct and indirect interests of Caremark’s 
      and CVS’s directors and executive officers in 
      the merger by reading the definitive joint proxy statement/prospectus.
    
    
      Cautionary Statement Regarding Forward-Looking Statements
    
    
      This document contains certain forward-looking statements about CVS and 
      Caremark. When used in this document, the words "anticipates", "may", 
      "can", "believes", "expects", "projects", "intends", "likely", "will", 
      "to be" and any similar expressions and any other statements that are 
      not historical facts, in each case as they relate to CVS or Caremark or 
      to the combined company, the management of either such company or the 
      combined company or the transaction are intended to identify those 
      assertions as forward-looking statements. In making any of those 
      statements, the person making them believes that its expectations are 
      based on reasonable assumptions. However, any such statement may be 
      influenced by factors that could cause actual outcomes and results to be 
      materially different from those projected or anticipated. These 
      forward-looking statements, including, without limitation, statements 
      relating to anticipated accretion, return on equity, cost synergies, 
      incremental revenues and new products and offerings, are subject to 
      numerous risks and uncertainties. There are various important factors 
      that could cause actual results to differ materially from those in any 
      such forward-looking statements, many of which are beyond the control of 
      CVS and Caremark, including macroeconomic condition and general industry 
      conditions such as the competitive environment for retail pharmacy and 
      pharmacy benefit management companies, regulatory and litigation matters 
      and risks, legislative developments, changes in tax and other laws and 
      the effect of changes in general economic conditions, the risk that a 
      condition to closing of the transaction may not be satisfied, the risk 
      that a regulatory approval that may be required for the transaction is 
      not obtained or is obtained subject to conditions that are not 
      anticipated and other risks to consummation of the transaction. The 
      actual results or performance by CVS or Caremark or the combined 
      company, and issues relating to the transaction, could differ materially 
      from those expressed in, or implied by, any forward-looking statements 
      relating to those matters. Accordingly, no assurances can be given that 
      any of the events anticipated by the forward-looking statements will 
      transpire or occur, or if any of them do so, what impact they will have 
      on the results of operations or financial condition of CVS or Caremark, 
      the combined company or the transaction.