Laboratory Corporation of America-Registered Trademark-Holdings
358 South Main Street
Burlington, NC 27215
Telephone: 336-584-5171
FOR IMMEDIATE RELEASE
Contact: 336-436-4855 Shareholder Direct: 800-LAB-0401
Pamela Sherry www.labcorp.com
LABORATORY CORPORATION OF AMERICA-REGISTERED TRADEMARK- DECLARES
FINAL PREFERRED STOCK DIVIDENDS
Burlington, NC, June 8, 2000 - Laboratory Corporation of America-
Registered Trademark- Holdings (LabCorp-Registered Trademark-) (NYSE:
LH) today announced that its Board of Directors has declared a
dividend of $0.08264 per share on the Company's Series A Preferred
Stock, payable in cash. The Board has also declared a dividend of
$0.08264 per share on the Company's Series B Preferred Stock, payable
in shares of Series B Preferred Stock at the rate of 0.001653 shares
per share of Series B Preferred Stock held. No fractional shares of
Series B Preferred Stock will be issued, so that the number of shares
to be paid as a dividend on the Series B Preferred Stock will be
rounded to the nearest whole number of shares. The dividends will be
paid on June 30, 2000, for each issued and outstanding share of
Series A and Series B Preferred Stock to stockholders of record on
June 14, 2000 (whether or not such stockholders convert their shares
after such date), and will cover the seven days to July 7, 2000, the
date set for redemption of the Series A and Series B Preferred Stock,
at an equivalent annualized rate of $4.25 per share. The dividends
will be paid in addition to the dividends payable on the Series A and
Series B Preferred Stock for the quarterly dividend period ended June
30, 2000 announced by the Company on May 2, 2000.
Laboratory Corporation of America-Registered Trademark- Holdings
(LabCorp-Registered Trademark-) is a national clinical laboratory
with annual revenues of $1.7 billion in 1999. With 18,000 employees
and over 100,000 clients nationwide, the Company offers more than
2,000 clinical tests ranging from simple blood analyses to
sophisticated molecular diagnostics. LabCorp leverages its expertise
in innovative clinical testing technology with three Centers of
Excellence. The Center for Molecular Biology and Pathology, in
Research Triangle Park (RTP), North Carolina, develops applications
for polymerase chain reaction (PCR) technology. Its Center for
Occupational Testing in RTP is the world's largest substance abuse
testing facility, and the Center for Esoteric Testing in Burlington,
North Carolina, performs the largest volume of specialty testing in
the network. LabCorp's clients include physicians, state and federal
government, managed care organizations, hospitals, clinics,
pharmaceutical and Fortune 1000 companies, and other clinical
laboratories.
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