CVS/pharmacy Wins 2008 WWD Beauty Biz Award for Launch of Beauty 360

CVS/pharmacy, America's largest retail pharmacy, was presented the "Retailer of the Year" Award by Women's Wear Daily Beauty Biz in the magazine's annual Beauty Awards issue. The award was announced yesterday in New York City at the WWD Beauty Biz Awards breakfast. WWD Beauty Biz recognized CVS/pharmacy for its bold strategy in partnering with prestige and niche beauty brands to launch its Beauty 360 concept.

"We are honored to receive the WWD Beauty Biz Award for Retailer of the Year for the launch of Beauty 360," said Cheryl Mahoney, vice president of beauty care, CVS/pharmacy. "Beauty 360 is the natural evolution of CVS/pharmacy's leadership within the beauty category and we are proud to be recognized for our vision to bring a new level of access to prestige brands as well as an unparalleled service model to our customers."

The inaugural Beauty 360 location opened on November 3, 2008 at 1350 Connecticut Avenue NW (Dupont Circle) in Washington D.C. The second Beauty 360 location opened on December 9th at 25272 Marguerite Parkway in Mission Viejo, CA. Both locations are adjacent to CVS/pharmacy stores and can be accessed via a breezeway as well as a separate store front entrance. More locations are being explored across the country for 2009 in markets where beauty performs exceedingly well.

WWD Beauty Biz praised the pioneering, prestige venture noting, "CVS earned its right to dabble in the luxury arena and a number of niche and high- end firms agreed." CVS/pharmacy brought the shopping model, which has been successful in Europe and Canada, to the United States, making it more accessible and convenient to shop for prestige beauty than ever before. By locating Beauty 360 stores where women already shop, next to the drugstore in her neighborhood, they are saving her valuable time. The publication also acknowledged Beauty 360 for its service and reward offerings. In addition to sought-after prestige and niche brands, the new stores will provide pampering treatments like hand massage and makeup application and will offer "Beautiful You" rewards that can be redeemed for signature services through the ExtraCare program, the largest retail loyalty program in the world, with more than 50 million cardholders. ExtraCare members earn 2% back on all purchases in the form of "ExtraBucks," which can be used at either CVS/pharmacy or Beauty 360.

About CVS/pharmacy

CVS/pharmacy, the retail division of CVS Caremark Corporation , is America's largest retail pharmacy. The Company operates more than 6,800 CVS/pharmacy and Longs Drugs stores. CVS/pharmacy is committed to improving the lives of those we serve by making innovative and high-quality health and pharmacy services safe, affordable and easy to access, both in its stores and online at CVS.com. General information about CVS/pharmacy and CVS Caremark is available at http://www.cvscaremark.com/.

  Contact:
  Erin Pensa
  CVS/pharmacy
  401-770-4786
  EPensa@cvs.com

First Call Analyst:
FCMN Contact:

SOURCE: CVS/pharmacy