Full Slate of 14 Directors Elected at CVS Caremark Annual Meeting

Woonsocket, RI (May 9, 2007) – CVS Caremark Corporation (NYSE: CVS) announced that based on preliminary results the full slate of 14 directors nominated to serve on the CVS Caremark Board of Directors was elected at the company's Annual Meeting of Stockholders this morning.

The elected members of the CVS Caremark Board of Directors are as follows:

    * E. Mac Crawford - Chairman, CVS Caremark Corporation
    * Thomas M. Ryan - President and CEO, CVS Caremark Corporation
    * Edwin M. Banks - Founder, Washington Corner Capital Management, LLC
    * C. David Brown II - Chairman, Broad and Cassel
    * David W. Dorman - Senior Advisor and Partner, Warburg Pincus LLC
    * Kristen E. Gibney Williams - former executive of Caremark's Prescription Benefits Management Division
    * Roger L. Headrick - Managing General Partner, HMCH Ventures; President and CEO, ProtaTek International, Inc.
    * Marian L. Heard - President and CEO, Oxen Hill Partners
    * William H. Joyce - Chairman and CEO, Nalco Company
    * Jean-Pierre Millon - former President and CEO, PCS Health Systems Inc.
    * Terrence Murray -former Chairman and CEO, FleetBoston Financial Corporation
    * C.A. Lance Piccolo - CEO of HealthPic Consultants, Inc.
    * Sheli Z. Rosenberg - former Vice Chairman, President and CEO, Equity Group Investments, LLC.
    * Richard J. Swift - former Chairman, President, and CEO, Foster Wheeler Ltd.

“The members of the Board of Directors bring extensive experience with both CVS and Caremark,” said Mr. Crawford. “This group will guide CVS Caremark as we fulfill our goals for transforming the delivery of health care, providing significant benefits to employers, health plans and consumers and delivering shareholder value.”

Mr. Ryan noted, “This is an exciting time for our company. As we look forward to the opportunities ahead, I am pleased that we have the caliber of people both in our board of directors and executive management team that will help shape our direction and execute our long term vision. Today, our shareholders affirmed their support for the course we have set, to lead change and improve healthcare delivery in this country.”

In other actions, based on preliminary results the stockholders voted in accordance with the Board of Directors' recommendation for a vote in favor of the following resolutions:

    * Ratification of the appointment of KPMG LLP as Corporation's independent registered public accounting firm for the fiscal year ending December 29, 2007.
    * Adoption of the Corporation's 2007 Employee Stock Purchase Plan.
    * Adoption of the Corporation's 2007 Incentive Plan.

Based on preliminary results the stockholders also voted in accordance with the Board of the Directors' recommendation for a vote against the following items:

    * A stockholder proposal regarding limits on CEO compensation.
    * A stockholder proposal regarding sustainability reporting by the Corporation.
    * A stockholder proposal regarding the relationship between the Corporation and compensation consultants.

The votes in regard to the following two items are still being tabulated:

    * A stockholder proposal regarding separation of the roles of Chairman and CEO.
    * A stockholder proposal regarding the Corporation's policy on stock option grants.