CARDINAL HEALTH [LOGO]
7000 Cardinal Place
Dublin, OH 43017
NEWS RELEASE
www.cardinal.com
FOR IMMEDIATE RELEASE
Media Contact: David Verbraska
614-757-3690
Investor Contact: Stephen Fischbach
614-757-7067
CARDINAL HEALTH CHAIRMAN FOCUSES ON COMPANY'S STRONG GROWTH AT ANNUAL
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SHAREHOLDERS' MEETING; BOARD OF DIRECTORS DECLARES FIRST QUARTER DIVIDEND
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DUBLIN, OHIO, NOVEMBER 6, 2002 - Robert D. Walter, chairman and CEO of Cardinal
Health, Inc. (NYSE: CAH), the leading provider of products and services
supporting the health care industry, expressed confidence in the company's
continued growth at the annual meeting of shareholders held today at corporate
headquarters. The company's board of directors also declared today a regular
quarterly dividend of $0.025 per common share, without par value. The dividend,
which is the company's 73rd consecutive regular quarterly dividend, is payable
on January 15, 2003 to shareholders of record on January 1, 2003.
"Cardinal Health continues to outperform the market and its competitors because
of our innovative products and services, successful integration of these unique
offerings, and the strength of our customer partnerships," Walter told
shareholders. "Cardinal Health expects to continue to benefit from attractive
health care market economics as demand for our products and services increases.
We hold leading positions in all the health care businesses we operate and will
build on that competitive strength to increase the broad value we offer
customers."
"The financial momentum of last year continued strongly into the first quarter
of fiscal 2003," noted Walter. "By serving our customers well, we achieved
record first quarter revenues, earnings, and returns on sales and committed
capital. At the same time we generated superior cash flow while continuing to
invest in the future. We are positioned for another outstanding year."
In other business, shareholders re-elected five board members to three-year
terms. Those board members are J. Michael Losh, retired chairman of Metaldyne
Corporation; John B. McCoy, chairman of the Board of Corillian Corporation;
Michael D. O'Halleran, president and chief operating officer of Aon Corporation;
Jean G. Spaulding, M.D., trustee of The Duke Endowment; and Matthew D. Walter,
chief executive officer of Bound Tree Medical, LLC.
-more-
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CHAIRMAN FOCUSES ON STRONG GROWTH AT SHAREHOLDERS' MEETING; BOARD DECLARES
DIVIDEND
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About Cardinal Health
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Cardinal Health, Inc. (www.cardinal.com) is the leading provider of products and
services supporting the health care industry. Cardinal Health companies develop,
manufacture, package and market products for patient care; develop drug-delivery
technologies; distribute pharmaceuticals, medical-surgical and laboratory
supplies; and offer consulting and other services that improve quality and
efficiency in health care. Headquartered in Dublin, Ohio, Cardinal Health
employs more than 49,000 people on five continents and produces annual revenues
of more than $44 billion. Cardinal Health is ranked #23 on the current Fortune
500 list and was named one of the "The World's Best" companies by Forbes
magazine in 2002.
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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. 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 8-K and
Form 10-Q reports (including all amendments to those reports) and exhibits to
those reports, and include (but are not limited to) the costs, difficulties, and
uncertainties related to the integration of acquired businesses, the loss of one
or more key customer or supplier relationships, changes in the distribution
outsourcing patterns for health-care products and/or services, the costs and
other effects of governmental regulation and legal and administrative
proceedings, and general economic and market conditions. Cardinal Health
undertakes no obligation to update or revise any forward-looking statements.
Information regarding the identity of the persons who may, under SEC rules, be
deemed to be participants in the solicitation of stockholders of Syncor
International Corporation in connection with the proposed merger, and their
interests in the solicitation, is set forth in a Schedule 14A filed by Syncor on
June 14, 2002 with the SEC. Cardinal Health has filed a registration statement
on Form S-4 in connection with the transaction, and Syncor is mailing a
definitive proxy statement/prospectus to its stockholders in connection with the
transaction. Investors and security holders of Syncor are urged to read the
definitive proxy statement/prospectus because it contains important information
about Cardinal Health, Syncor and the transaction. A free copy of the definitive
proxy statement/prospectus may be obtained from Cardinal Health or Syncor or at
the SEC's Web site at www.sec.gov. Information regarding the interests of
Syncor's officers and directors in the transaction is included in the definitive
proxy statement/prospectus. In addition to the registration statement on Form
S-4 filed by Cardinal Health in connection with the transaction, and the
definitive proxy statement/prospectus mailed to the stockholders of Syncor in
connection with the transaction, each of Cardinal Health and Syncor file annual,
quarterly and special reports, proxy and information statements, and other
information with the SEC. Investors may read and copy any of these reports,
statements and other information at the SEC's public reference room located at
450 5th Street, N.W., Washington, D.C., 20549. Investors should call the SEC at
1-800/SEC-0330 for further information. The reports, statements and other
information filed by Cardinal Health and Syncor with the SEC are also available
for free at the SEC's Web site at www.sec.gov. A free copy of these reports,
statements and other information may also be obtained from Cardinal Health or
Syncor. The proxy statement/prospectus contains important information that
should be read carefully by investors before making any voting or investment
decision.
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