CVS Caremark Statement Regarding Results of 2010 Medicare Part D Bidding Process

CVS Caremark Corporation (NYSE: CVS), today announced that the number of low income subsidy ("LIS”) members enrolled in its Silverscript and Accendo Medicare Part D plans will likely decline by approximately 30 to 35% in 2010. The Company based its conclusions on a preliminary review of the results of the 2010 Medicare Part D competitive bidding process recently released by the Centers for Medicare and Medicare ("CMS”). Those results indicate that Silverscript and/or Accendo plans qualified to receive automatically-assigned LIS members in 15 regions (comprising 27 states) in 2010 as compared to 30 regions (comprising 46 states plus the District of Columbia) in 2009. The total number of beneficiaries that will ultimately be enrolled in Silverscript and Accendo Medicare Part D plans during the 2010 year will not be known until early 2010 (after the close of the open enrollment period).

Based on these results, the Company estimates that the decrease in LIS members enrolled in Silverscript and Accendo plans during 2010 could negatively impact 2010 earnings by $0.03 to $0.04. In addition, the Company previously noted in its second quarter 2009 earnings call that the effect of a regulatory change that effectively eliminated Medicare Part D network differential is expected to negatively impact 2010 earnings by $0.05 to $0.07. Consequently, the aggregate impact on 2010 earnings is expected to be $0.08 to $0.11.

Dave Rickard, Executive Vice President, Chief Administrative Officer and Chief Financial Officer, said, "While we are disappointed that we will serve fewer auto enrollees in 2010, the Medicare Part D business will still provide good returns and remain solidly profitable.”

About the Company:

CVS Caremark is the largest provider of prescriptions in the nation. The Company fills or manages more than 1 billion prescriptions annually. Through its unmatched breadth of service offerings, CVS Caremark is transforming the delivery of health care services in the U.S. The Company is uniquely positioned to effectively manage costs and improve health care outcomes through its more than 7,000 CVS/pharmacy and Longs Drugs stores; its Caremark Pharmacy Services division (pharmacy benefit management, mail order and specialty pharmacy); its retail-based health clinic subsidiary, MinuteClinic; and its online pharmacy, CVS.com. General information about CVS Caremark is available through the Investors section of the Company’s Web site, at cvscaremark.com, as well as through the Newsroom section of the Company’s Web site, at cvscaremark.com/newsroom.

Forward-looking statements:

This press release contains certain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company strongly recommends that you become familiar with the specific risks and uncertainties outlined under the Risk Factors section in our Annual Report on Form 10-K for the year ended December 31, 2008 and under the section entitled "Cautionary Statement Concerning Forward-Looking Statements” in our most recently filed Quarterly Report on Form 10-Q.