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Cardinal Health Holds Annual Meeting, Names Philip Francis to Board
11/08/2006

DUBLIN, Ohio, Nov. 8, 2006 — At its annual meeting of shareholders held today, Cardinal Health, the leading provider of products and services supporting the health-care industry, appointed a new director to its board, declared its 89th consecutive quarterly dividend and announced preliminary results of shareholder voting.

 

Philip L. Francis, 60, chairman and chief executive officer of PetSmart, was appointed to the Cardinal Health board of directors replacing long-time board member John F. Havens, who had previously announced his plans to retire.  In naming Francis, Cardinal Health cited his 35 years of retail and wholesale experience in management positions at Shaw’s Supermarkets, Roundy’s and Jewel corporations.  He also served as president of Cardinal Foods, Inc., the company’s former wholesale food business, from 1985 to 1988.

 

The board of directors also approved a quarterly dividend of $0.09 per share payable on Jan. 15 to shareholders of record on Jan. 1.  For more than 22 years, Cardinal Health has paid a quarterly dividend to shareholders.  The company had approximately 405 million shares outstanding as of Nov. 1. 

 

In addition to the reelection of three directors and ratification of the company’s external auditor, three shareholder proposals failed to pass.  The proposals pertained to corporate governance matters that Cardinal Health said it had addressed within its current practices.

 

In his management presentation, President and CEO R. Kerry Clark told shareholders that, “Cardinal Health remains well positioned to help the health-care industry drive substantial safety and productivity improvements.” 

 

“Our mission is to help make health care safer and more productive,” Clark said.  “And we are poised to deliver for our customers and shareholders with clear strategies for growth and an innovative line of market-leading products and services.”

 

About Cardinal Health

Headquartered in Dublin, Ohio, Cardinal Health, Inc. (NYSE: CAH) is an $81 billion, global company serving the health-care industry with a broad portfolio of products and services.  Through its diverse offerings, Cardinal Health delivers health-care solutions that help customers reduce their costs, improve safety and productivity, and deliver better care to patients.  The company manufactures, packages and distributes pharmaceuticals and medical supplies, offers a range of clinical services and develops automation products that improve the management and delivery of supplies and medication for hospitals, physician offices and pharmacies.  Ranked No. 19 on the Fortune 500, Cardinal Health employs more than 55,000 people on six continents.  More information about the company may be found at www.cardinalhealth.com.

 

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Except for historical information, all other information in this news release consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended.  These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied.  The most significant of these uncertainties are described in Cardinal Health's Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports) and exhibits to those reports, and include (but are not limited to) the following: competitive pressures in its various lines of business; the loss of one or more key customer or supplier relationships or changes to the terms of those relationships; changes in the distribution patterns or reimbursement rates for health-care products and/or services; the results, consequences, effects or timing of any inquiry or investigation by or settlement discussions with any regulatory authority or any legal and administrative proceedings, including shareholder litigation; difficulties in opening new facilities or fully utilizing existing capacity; the costs, difficulties and uncertainties related the integration of acquired businesses; and general economic and market conditions.  Except to the extent required by applicable law, Cardinal Health undertakes no obligation to update or revise any forward-looking statement.

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