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CVS/pharmacy Announces Plans for New Distribution Center in Southern New York

CVS facility expected to open in 2011 and bring 600 new jobs to the region

WOONSOCKET, R.I., Feb. 5 /PRNewswire/ -- CVS/pharmacy, America's largest retail pharmacy, announced today that it is finalizing plans to build a 750,000 square foot distribution center in Chemung County, New York.

CVS/pharmacy's proposed distribution center, which is subject to final negotiations and approvals from state and local agencies, would support the inventory and fulfillment needs of approximately 350 CVS/pharmacy stores in the northeast. The selected site is located off White Wagon Road in the Town of Chemung and is expected to employ about 600 people after it becomes operational in 2011.

"Our proposed Chemung County site is an ideal location to support our expanding distribution needs in the northeast," said Ron Link, Senior Vice President of Logistics at CVS/pharmacy. "We want to thank state and local officials for their cooperation and support during our site selection process. We look forward to receiving their final approvals, which will enable us to move forward with this project."

"This is great economic news for the residents of our entire region and could not have come at a better time," said Tom Santulli, Chemung County Executive. "After four years of hard work to develop the White Wagon Road site, to land a company the magnitude of CVS/pharmacy is a testament to the working partnership between local government and the State of New York. This project will create hundreds of quality jobs and provide a significant boost to our local economy."

"We are pleased that CVS recognizes that Chemung County is an outstanding environment from which to launch future development," said Empire State Development Upstate President Dennis Mullen. "The county's skilled workforce and central location, coupled with the strategic and well-developed transportation infrastructure of the Southern Tier, make it a great place to do business. This is testament to the State's continued attractiveness as a place for businesses to grow and prosper. CVS is a dynamic company and we look forward to continuing to work with them."

CVS/pharmacy expects to close on the 311-acre property before the end of the first quarter of 2009 and to break ground in the spring.

About CVS/pharmacy

CVS/pharmacy, the retail division of CVS Caremark Corporation (NYSE: CVS), is America's largest retail pharmacy with more than 6,800 CVS/pharmacy and Longs Drug stores. CVS/pharmacy is committed to improving the lives of those we serve by making innovative and high-quality health and pharmacy services safe, affordable and easy to access, both in its stores and online at CVS.com. General information about CVS/pharmacy and CVS Caremark is available at www.cvscaremark.com.

CONTACT: Mike DeAngelis of CVS/pharmacy, +1-401-770-2645, mjdeangelis@cvs.com/

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