CMX Caremark RX

Caremark Rx, Inc. (NYSE: CMX) today announced that its Board of Directors has authorized a $1.25 billion increase in its existing share repurchase program, raising the total authorization of the program to $3.0 billion. The timing and amount of the repurchases of the company's common stock will be at management's discretion. The repurchases will depend on a variety of factors, including share price, regulatory requirements and market conditions. At the close of business on May 11, 2006, the company had repurchased a total 44.4 million shares, at an aggregate cost of approximately $1.71 billion since inception of the program in the third quarter of 2002. About Caremark Rx, Inc. Caremark Rx, Inc. is a leading pharmaceutical services company, providing through its affiliates comprehensive drug benefit services to over 2,000 health plan sponsors and their plan participants throughout the U.S. The company's clients include corporate health plans, managed care organizations, insurance companies, unions, government agencies and other funded benefit plans. In addition, Caremark is a national provider of drug benefits to eligible beneficiaries under the Medicare Part D program. The company operates a national retail pharmacy network with over 60,000 participating pharmacies, seven mail service pharmacies, the industry's only FDA-regulated repackaging plant and 21 licensed specialty pharmacies for delivery of advanced medications to individuals with chronic or genetic diseases and disorders. Additional information about Caremark is available at www.caremarkrx.com or in the company's Forms 10-K, 10-Q and other SEC filings.