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LabCorp's Liquid Yield Option(TM) Notes To Accrue Contingent Cash Interest

19 September 2006

BURLINGTON, N.C., Sept. 19 /PRNewswire-FirstCall/ -- Laboratory Corporation of America(R) Holdings (LabCorp(R)) (NYSE: LH) announced today that for the period of September 12, 2006 to March 11, 2007, its $744 million in zero coupon subordinated Liquid Yield Option(TM) Notes (LYONs) due 2021 will, subject to the terms of the LYONs, accrue contingent cash interest at a rate of no less than 0.125% of the average market price of a LYON for the five trading days ended September 7, 2006, in addition to the continued accrual of the original issue discount.

About LabCorp

Laboratory Corporation of America(R) Holdings, a 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 $3.3 billion in 2005, approximately 24,000 employees nationwide, and more than 220,000 clients, LabCorp offers clinical assays ranging from routine blood analyses to HIV and genomic testing. LabCorp combines its expertise in innovative clinical testing technology with its Centers of Excellence: The Center for Molecular Biology and Pathology, in Research Triangle Park, NC; National Genetics Institute, Inc. in Los Angeles, CA; ViroMed Laboratories, Inc. based in Minneapolis, MN; The Center for Esoteric Testing in Burlington, NC; DIANON Systems, Inc. based in Stratford, CT; US LABS based in Irvine, CA; and Esoterix and its Colorado Coagulation, Endocrine Sciences, and Cytometry Associates laboratories. LabCorp clients include physicians, government agencies, managed care organizations, hospitals, clinical labs, and pharmaceutical companies. To learn more about our growing organization, visit our Web site at: www.LabCorp.com.

Each of the above 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, 2005, and subsequent SEC filings.

SOURCE  Laboratory Corporation of America Holdings
    -0-                             09/19/2006
    /CONTACT:  Investor, Scott Fleming, +1-336-436-4879, or Media, Pam
Sherry, +1-336-436-4855, or Shareholder Direct, +1-800-LAB-0401, both of
Laboratory Corporation of America Holdings/
    /Web site:  http://www.labcorp.com/
    (LH)

CO:  Laboratory Corporation of America Holdings
ST:  Canada, North Carolina
IN:  HEA MTC BIO
SU:

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7678 09/19/2006 18:37 EDT http://www.prnewswire.com