CVS/pharmacy Enters Twin Cities and Makes a Three-Year Commitment to Children's Home Society & Family Services

Saturday, September 18, 2004

WOONSOCKET, R.I., Sep 18, 2004 /PRNewswire-FirstCall via COMTEX/ -- CVS/pharmacy (NYSE: CVS), the nation's largest pharmacy retailer, continues its nationwide expansion by opening its first stores in the Twin Cities area this month. At today's grand opening celebration, CVS presented a $30,000 donation to Children's Home Society & Family Services signifying a three-year commitment to early childhood education in Minnesota.

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The donation to Children's Home Society & Family Services will help to meet the needs of children and families in the Twin Cities area. "This generous donation from CVS will have a great and lasting effect in supporting many families in our Twin Cities communities by providing them with high-quality, developmental child care for the next three years," said Madonna W. King, President & CEO of Children's Home Society & Family Services.

CVS expects to open a total of eight to 10 stores in the Twin Cities between now and the end of the year, providing Minnesota consumers with access to the easiest pharmacy experience in the United States. The first stores are now open at 4241 Johnny Cake Ridge Road in Eagan and 2017 Coon Rapids Boulevard in Coon Rapids.

"We believe our new store openings in the Twin Cities market will introduce a new retail pharmacy experience in this part of the country, and we look forward to serving our new customers in Minnesota with the best possible pharmacy service," said Mike Talbot, area vice president for CVS Corporation.

During today's celebration at the Eagan location, the first 500 CVS customers received $10 gift cards and Betty Zeyen of Eagan, Minn. won a free trip to the destination of her choice.

CVS' entry into the Twin Cities market exemplifies the company's continued growth strategy involving high-growth pharmacy markets. CVS recently acquired 1,260 Eckerd stores, mainly in the southern United States. This acquisition creates the nation's leading pharmacy retailer with stores in 36 states and the District of Columbia, and a $2 billion PBM/mail order pharmacy business serving approximately 30 million lives.

CVS is committed to easy, convenient service, with prescriptions ready when promised. CVS accepts virtually all prescription plans and its pharmacists are always available to help with any questions or concerns.

"We have conducted extensive research to understand the shopping needs of pharmacy customers, and our new stores provide an inviting and easy store experience that is unlike any other drug store," said Helena Foulkes, senior vice president of advertising and marketing for CVS Corporation. "We feel confident that consumers in the Twin Cities area will welcome the convenience and value CVS offers shoppers and, most important, they will welcome our commitment to the highest level of pharmacy care and service."

All CVS stores in the Twin Cities market will feature a simple, intuitive store layout, clean and wide aisles, and well-stocked shelves boasting a comprehensive array of product categories to ensure customers can find everything they need, from beauty and health products to greeting cards to the latest in digital photo developing technology.

CVS' broad selection of merchandise features top national brands such as L'Oreal, Revlon, Hallmark, Kodak and Johnson & Johnson, as well as a variety of high-quality, exclusive CVS products, such as Lumene beauty products from Finland. CVS also offers a broad range of CVS-brand products that will offer Minnesotans outstanding quality and value.

In addition, CVS will give Minnesota customers access to the largest and most successful customer loyalty program in the country. The CVS ExtraCare card program gives CVS customers two percent back on most purchases. The ExtraCare program also earns customers money back on each prescription they fill. There are currently 50 million ExtraCare cardholders nationwide.