CVS Caremark (CVS) Extends Expiration for Tender Offer of Longs Drugs (LDG)

October 16, 2008 9:22 AM EDT

CVS Caremark Corporation (NYSE: CVS) has extended the expiration for its tender offer to purchase all of the outstanding common stock of Longs Drug Stores Corporation (NYSE: LDG), at a price of $71.50 per share in cash, until 9:00 p.m., New York City time, on Thursday, October 16, 2008. All other terms and conditions of the tender offer remain unchanged.

As of midnight on October 15, 2008 (the date on which the tender offer was scheduled to expire), approximately 23,895,286 shares have been tendered and not withdrawn pursuant to the tender offer, including 4,778,578 shares guaranteed to be delivered within the next three New York Stock Exchange trading days. The shares tendered and not withdrawn represent approximately 65.88% of the outstanding shares, including the shares guaranteed to be delivered, which represent approximately 13.18% of the outstanding shares.

CVS Caremark Corporation (CVS Caremark) is a provider of prescriptions and related healthcare services in the United States.[SM]

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