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CVS Caremark Reports Record Results in Fourth Quarter and Year 2008
Date:2/19/2009

r entered on October 16, 2008, Linens Holding Co. is in the process of liquidating the entire Linens 'n Things retail chain. The Company's loss from discontinued operations includes $132.0 million of lease-related costs ($214.4 million, net of an $82.4 million income tax benefit), which the Company believes it will likely be required to satisfy pursuant to its Linens 'n Things lease guarantees.

Real estate program:

For the quarter, CVS Caremark opened 52 new retail pharmacy stores, acquired 529 Longs Drugs retail stores, closed 6 retail pharmacy stores, and relocated 7 others. As of December 31, 2008, the Company operated 6,923 retail pharmacy stores, 58 specialty pharmacy stores, 19 specialty mail order pharmacies and 7 mail order pharmacies in 44 states, the District of Columbia and Puerto Rico.

Fiscal year change

On December 23, 2008, the Board of Directors of the Company approved a change in the Company's fiscal year end from the Saturday nearest December 31 of each year to December 31 of each year to better reflect the Company's position in the health care, rather than retail, industry. The fiscal year change was effective beginning with the fourth quarter of fiscal 2008. Prior to Board approval of this change, the Saturday nearest December 31, 2008 would have resulted in a 53-week fiscal year that would have ended January 3, 2009.

Teleconference and webcast:

The Company will be holding a conference call today for the investment community at 8:30 am (ET) to discuss its quarterly results. An audio webcast of the conference call will be broadcast simultaneously for all interested parties through the Investor Relations section of the CVS Caremark Web site at cvscaremark.com/investors. This webcast will be archived and available on the Web site for a one-month period following the conference call.

About the Company:'/>"/>

SOURCE CVS Caremark Corporation
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