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Quest Diagnostics Announces Two-For-One Stock Split

05/08/1

TETERBORO, N.J., May 8 /PRNewswire/ -- Quest Diagnostics Incorporated (NYSE: DGX), the nation's leading provider of diagnostic testing, information and services, announced that its stockholders had approved an increase in the number of authorized shares of common stock needed to effect a two-for-one stock split.

The stock split will be effected by the issuance on May 31, 2001 of a stock dividend of one new share of common stock for each share of common stock held by stockholders of record on May 16, 2001. The company has approximately 47 million shares of common stock outstanding and previously its charter had authorized the issuance of 100 million shares of common stock. Stockholders approved an amendment to the company's certificate of incorporation to increase the authorization to 300 million shares of common stock at the company's 2001 Annual Meeting of Stockholders, held this morning in New York City. Following the dividend, the company will have approximately 94 million shares of common stock outstanding.

In addition, Quest Diagnostics announced that Kenneth W. Freeman, Chairman and Chief Executive Officer, is scheduled to speak at the Deutsche Banc Alex. Brown Health Care 2001 Conference on Thursday, May 10, 2001 in Baltimore. The Quest Diagnostics presentation is scheduled to begin at approximately 9:00 a.m. Eastern Time. The public is invited to listen to a live webcast of the presentation on the Internet by visiting the following web address: http://www.db.com/conferences. A replay of the webcast will be available for 90 days following the conference.

Quest Diagnostics is the nation's leading provider of diagnostic testing, information and services with annual revenues of $3.4 billion in 2000. The company's diagnostic testing yields information that enables health care professionals and consumers to make better decisions to improve health. Quest Diagnostics offers patients and physicians the broadest access to diagnostic testing services through its national network of approximately 30 full-service laboratories, 150 rapid response laboratories and more than 1,300 patient service centers, where specimens are collected. Quest Diagnostics is the leading provider of esoteric testing, including gene-based testing, and is the leader in routine medical testing, drugs of abuse testing, and anatomic pathology testing. Through partnerships with pharmaceutical, biotechnology and information technology companies, Quest Diagnostics provides support to help speed the development of health care insights and new therapeutics. Additional company information can be found on the Internet at: http://www.questdiagnostics.com.

The statements in this press release which are not historical facts or information may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. Certain of these risks and uncertainties are described in the Quest Diagnostics Incorporated 2000 Form 10-K and subsequent filings.

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SOURCE Quest Diagnostics Incorporated

CONTACT: Media - Gary Samuels, 201-393-5700, or Investors - Cathy Doherty, 201-393-5030, both of Quest Diagnostics Incorporated/

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