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LabCorp Successfully Completes Acquisition of Monogram Biosciences, Inc.

BURLINGTON, N.C.--(BUSINESS WIRE)--Aug. 4, 2009-- Laboratory Corporation of America® Holdings (NYSE:LH) today announced the successful completion of its acquisition of Monogram Biosciences, Inc. LabCorp acquired Monogram pursuant to a cash tender offer followed by the merger of a wholly-owned subsidiary of LabCorp with and into Monogram.

“This acquisition is a significant step in the execution of LabCorp’s strategy,” said David P. King, Chairman and Chief Executive Officer of LabCorp. “By adding Monogram's innovative offerings to our extensive esoteric testing menu, we will advance our leadership in infectious disease and cancer testing, companion diagnostics and personalized medicine.”

As a result of the acquisition, Monogram became a wholly-owned subsidiary of LabCorp, and Monogram shares ceased to be traded on the NASDAQ Global Market at the close of trading on August 4, 2009.

At the effective time of the merger, all outstanding shares of Monogram common stock not validly tendered and accepted for payment in the tender offer were converted into the right to receive $4.55 per share in cash (the same price paid in the tender offer), without interest and subject to applicable withholding taxes. American Stock Transfer & Trust Company, acting as paying agent for the merger, will mail to the remaining former stockholders of Monogram materials necessary to exchange their former Monogram shares for such payment.

About LabCorp®

Laboratory Corporation of America® Holdings, a S&P 500 company, is a pioneer in commercializing new diagnostic technologies and the first in its industry to embrace genomic testing. With annual revenues of $4.5 billion in 2008, over 28,000 employees worldwide, and more than 220,000 clients, LabCorp offers clinical assays ranging from routine blood analyses to HIV and genomic testing. LabCorp combines its expertise in innovative clinical testing technology with its Centers of Excellence: The Center for Molecular Biology and Pathology, National Genetics Institute, ViroMed Laboratories, Inc., The Center for Esoteric Testing, Litholink Corporation, DIANON Systems, Inc., US LABS, and Esoterix and its Colorado Coagulation, Endocrine Sciences, and Cytometry Associates laboratories. LabCorp conducts clinical trial testing through its Esoterix Clinical Trials Services division. LabCorp clients include physicians, government agencies, managed care organizations, hospitals, clinical labs, and pharmaceutical companies. To learn more about our organization, visit our Web site at: www.labcorp.com.

About Monogram Biosciences, Inc.

Monogram Biosciences, Inc. is advancing individualized medicine by discovering, developing and marketing innovative products to guide and improve treatment of serious infectious diseases and cancer. Monogram Biosciences, Inc.’s products are designed to help doctors optimize treatment regimens for their patients that lead to better outcomes and reduced costs. Monogram Biosciences, Inc.’s technology is also being used by numerous biopharmaceutical companies to develop new and improved anti-viral therapeutics and vaccines as well as targeted cancer therapeutics. More information about Monogram Biosciences, Inc. and its technology can be found on its web site at www.monogrambio.com.

Source: Laboratory Corporation of America® Holdings

Laboratory Corporation of America® Holdings
Investor/Media Contact:
Bill Bonello, 336-436-7732
Company Information: www.labcorp.com

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