Press Release

CVS Names Lawrence J. Zigerelli To Executive Vice President, Corporate Development

WOONSOCKET, R.I.--(BUSINESS WIRE)--Jan. 14, 1999--CVS Corporation (NYSE:CVS) today announced it has named Lawrence J. Zigerelli to the position of Executive Vice President, Corporate Development.

Zigerelli will have responsibility for new business development including e-commerce, database marketing, and the evaluation of strategic marketing opportunities. He will report to CVS Corporation President and CEO Thomas M. Ryan and serve on the company's executive committee.

Zigerelli, 40, joins CVS from The Procter and Gamble Company where he has served in a variety of senior marketing and general management positions. Most recently, he has been Vice President and General Manager, Food and Beverage - Latin America based in Caracas, Venezuela, with additional responsibility for the Puerto Rico and Caribbean businesses.

During his career at Procter and Gamble, he has worked closely with drugstore retailers and mass merchandisers on category management and efficient consumer response initiatives. He has also been instrumental in developing Procter and Gamble's marketing strategy for over-the-counter and personal care products. Zigerelli joined Procter and Gamble in 1980 after graduating from Yale University.

"Larry is an accomplished general manager who will complement our senior management team," Ryan said. "I'm delighted he's joining CVS."

CVS is the leading drugstore chain in the Northeast, Mid-Atlantic, Southeast and Midwest, operating more than 4,000 stores in 24 states and the District of Columbia.


     CONTACT: CVS Corporation
              Media Contact: Fred McGrail, (401) 765-1500
              Investor Contact: Nancy Christal, (914) 722-4704