EXHIBIT 99.1


Contacts:       McKesson
                Media
                Larry Kurtz
                Vice President, Corporate Communications
                415-983-8418
                or
                Investors
                Janet Bley
                Vice President, Investor Relations
                415-983-9357


                McKESSON AND HBOC OBTAIN STOCKHOLDER APPROVALS 
                              AND COMPLETE MERGER


SAN FRANCISCO, January 12, 1999 -- McKesson Corporation (NYSE:MCK) and HBO & 
Company (NASDAQ:HBOC) announced that, at separate meetings today, their
respective stockholders each voted to approve the merger of a wholly owned
subsidiary of McKesson with and into HBO & Company and other related matters.
HBOC stockholders approved the pending merger by a favorable vote of
approximately 96 percent of the shares voted. McKesson stockholders also
approved the pending merger by a favorable vote of approximately 95 percent of
the shares voted.

        The two companies completed their merger today and will begin operations
as Mckesson HBOC, Inc., tomorrow. Common shares of McKesson HBOC, Inc., will
continue to trade on the New York Stock Exchange under the symbol "MCK."

        McKesson HBOC, Inc., a Fortune 100 Corporation, is the world's largest
healthcare services company. McKessonHBOC provides pharmaceutical supply
management and information technologies across the entire continuum of
healthcare, including market-leading businesses in pharmaceutical and medical-
surgical distribution, information technology for healthcare providers,
services for payors and outsourcing.

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