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CVS Declares Quarterly Dividend
    Business Editors

    WOONSOCKET, RI--(BUSINESS WIRE)--Sept. 14, 1999--CVS Corporation (NYSE: CVS) today announced that its Board of Directors has approved its quarterly cash dividend at the rate of $0.0575 per share on the Company's common stock, payable November 3, 1999, to shareholders of record October 22, 1999.

As of August 21, 1999, CVS operated 4,091 stores in 24 states and the District of Columbia.

CVS is the largest retail provider of prescriptions in the nation. The Company is the No. 1 drugstore chain in the U.S. with stores in the Northeast, Mid-Atlantic, Southeast and Midwest regions of the country. General Information about CVS, including corporate background and press releases, is available through CVS' web site at http://www.CVS.com.

     --30--es/ny*

     CONTACT:  Investor Contact: 
               Nancy Christal                    
               Vice President                               
               Investor Relations                          
               914/722-4704                               
                    or
               Media Contact:        
               Todd Andrews
               Director                   
               Corporate Communications                                                                                                 FOR IMMEDIATE RELEASE
               401/765-1500 x4630       

     KEYWORD: RHODE ISLAND
     INDUSTRY KEYWORD: PHARMACEUTICAL RETAIL DIVIDEND


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