Paula A. Price Joins CVS as Senior Vice President, Controller and Chief Accounting Officer

WOONSOCKET, R.I.--(BUSINESS WIRE)--July 17, 2006--CVS Corporation (NYSE: CVS) announced today that Paula A. Price has joined the Company as Senior Vice President, Controller and Chief Accounting Officer. Price will be responsible for financial reporting, accounting systems, internal controls and loss prevention, and will help ensure the effective coordination of strategic plans and budgets. Under the direction of the Chief Financial Officer, she will also be responsible for managing general accounting, planning and analysis of the company's financial results.

Previously, Price was Senior Vice President and Chief Financial Officer for the Institutional Trust Services division of JPMorgan Chase & Co. Price's career experience includes senior-level finance positions at Prudential Financial, RJR Nabisco, Diageo/Grandmet, Kraft Foods and Sears. She received her MBA magna cum laude from the University of Chicago and her BS summa cum laude from DePaul University. Price is a certified public accountant.

"Paula has demonstrated her effectiveness in accounting, corporate finance, and strategy. Her experience across industries and functions will be an asset to CVS as we continue to grow our business and we welcome her to the CVS team," said David Rickard, Executive Vice President, Chief Financial Officer and Chief Administrative Officer.