1.11.2007 - 09:33am ET

(CSRwire) WOONSOCKET, RI., January 11, 2006-- The CVS/pharmacy Charitable Trust, the private foundation managed by CVS Corporation, announced today that it has awarded $230,300 in grant funds to more than 200 non-profit organizations across the U.S. through its employee Volunteer Challenge Grants Program, which donates funds to community organizations for which CVS employees volunteer.

“At CVS, we believe that our colleagues are a tremendously valuable resource to the communities where we live and work,” said Eileen Howard Dunn, Vice President of the CVS/pharmacy Charitable Trust. “Our vision is to help people live longer, healthier, happier lives. We strive to meet that vision not only in the way we do business, but also through supporting employee volunteerism. CVS Volunteer Challenge Grants enhance the impact of the efforts of our colleagues by providing financial support through the CVS/pharmacy Charitable Trust to non-profit organizations where they volunteer their time.”

The goal of the CVS Volunteer Challenge Grants Program is to support organizations where CVS colleagues volunteer their time that are working successfully to improve the long-term health of individuals and communities; improve public schools and strengthen the skills of the future workforce; and make positive changes and improve the quality of life in our communities.

CVS colleagues who volunteer for a non-profit organization either individually or as part of an employee team may apply for grants to the organization for which they volunteer. Additional funding is awarded to non-profits which support the mission of CVS All Kids Can to make life easier for children with disabilities. The winners are selected by an impartial committee of CVS colleagues.

In the past ten years, a total of approximately $2 million has been awarded to non-profit organizations through the CVS Volunteer Challenge Grants Program. Funding from the 2006 CVS Volunteer Challenge grants went to a wide variety of programs, including youth-serving organizations, human and social service agencies, community health agencies, patient advocacy groups, public elementary and secondary schools, and colleges and universities.

About the CVS/pharmacy Charitable Trust

The CVS/pharmacy Charitable Trust, Inc. is a private foundation managed by CVS Corporation (NYSE: CVS), which operates more than 6,200 retail and specialty pharmacy stores in 43 states and the District of Columbia in addition to its online pharmacy, CVS.com; its retail-based health clinic subsidiary, MinuteClinic; and its pharmacy benefit management, mail order and specialty pharmacy subsidiary, PharmaCare. The Trust’s mission is to provide funding for health care, education and community involvement initiatives targeting children with disabilities in communities where CVS/pharmacy stores are located. General information about CVS is available through the Investor Relations portion of the Company’s Web site at http://investor.cvs.com, or through the press room portion of the Company’s website, at http://www.cvs.com/pressroom.

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