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Conversion Right Triggered for LabCorp’s Zero Coupon Convertible Subordinated Notes Due 2021



  Conversion Right Triggered for LabCorp’s Zero Coupon Convertible
  Subordinated Notes Due 2021

Business Wire

BURLINGTON, N.C. -- April 8, 2013

Laboratory Corporation of America^® Holdings (LabCorp^®) (NYSE: LH) announced
today that its Zero Coupon Convertible Subordinated Notes due 2021 (Zero
Coupon Notes) may be converted as set forth below.

The Zero Coupon Notes are convertible into cash and Common Stock of LabCorp,
if any, subject to the terms of the Zero Coupon Notes and the Indenture, dated
as of October 24, 2006 between LabCorp and The Bank of New York Mellon, as
trustee (Trustee) and the conversion agent.

In order to exercise the option to convert all or a portion of the Zero Coupon
Notes, holders must validly surrender their Zero Coupon Notes at any time
during the calendar quarter through the close of business at 5:00 p.m., New
York City time, on Friday, June 28, 2013. The Trustee has informed LabCorp
that, as of this date, all custodians and beneficial holders of the Zero
Coupon Notes hold the Zero Coupon Notes through Depository Trust Company (DTC)
accounts and that there are no certificated Zero Coupon Notes in non-global
form. Accordingly, all Zero Coupon Notes surrendered for conversion must be
delivered through the transmittal procedures of DTC.

Should Zero Coupon Notes be converted, LabCorp would be required to pay
holders in cash for the accreted principal amount of the securities to be
converted, with the remaining amount, if any, to be satisfied with shares of
Common Stock. The shares required for settlement of the Zero Coupon Notes are
included in LabCorp’s computation of fully diluted earnings per share.

About LabCorp^®

Laboratory Corporation of America^® Holdings, an S&P 500 company, is a pioneer
in commercializing new diagnostic technologies and the first in its industry
to embrace genomic testing. With annual revenues of $5.7 billion in 2012, over
34,000 employees worldwide, and more than 220,000 clients, LabCorp offers more
than 4,000 tests ranging from routine blood analyses to reproductive genetics
to companion diagnostics. LabCorp furthers its scientific expertise and
innovative clinical testing technology through its Specialty Testing Group:
The Center for Molecular Biology and Pathology, National Genetics Institute,
ViroMed Laboratories, Inc, The Center for Esoteric Testing, Litholink
Corporation, Integrated Genetics, Integrated Oncology, DIANON Systems, Inc,
Monogram Biosciences, Inc, Colorado Coagulation, Cellmark Forensics, MedTox,
and Endocrine Sciences. LabCorp conducts clinical trials testing through its
LabCorp Clinical Trials division. LabCorp clients include physicians,
government agencies, managed care organizations, hospitals, clinical labs, and
pharmaceutical companies. To learn more about our company, visit our Web site
at: www.labcorp.com.

This press release contains forward-looking statements. Each of the
forward-looking statements is subject to change based on various important
factors, including without limitation, competitive actions in the marketplace
and adverse actions of governmental and other third-party payors. Actual
results could differ materially from those suggested by these forward-looking
statements. Further information on potential factors that could affect
LabCorp’s financial results is included in the Company’s Form 10-K for the
year ended December 31, 2012, and subsequent SEC filings.

Contact:

Laboratory Corporation of America^® Holdings
Investor/Media Contact:
Stephen Anderson, 336-436-5076
www.labcorp.com
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