FOR IMMEDIATE RELEASE

Contacts:

Ron Cook
Medicine Shoppe International
Office: 314.872.5368
Mobile: 314.791.9959
ron.cook@cardinal.com

Suzanne Stoddard
Cardinal Health – Investor Relations
Office: 614.757.7542


MEDICINE SHOPPE INTERNATIONAL, INC. COMPLETES
ACQUISITION OF MEDICAP PHARMACIES INCORPORATED

ST. LOUIS, December 23, 2003 – Medicine Shoppe International, Inc. (MSI), a Cardinal Health company (NYSE:CAH) and the national leading franchisor of independent retail pharmacies, today announced completion of its acquisition of Medicap Pharmacies Incorporated, a franchisor of 181 community pharmacies with locations in 34 states.
Medicap Pharmacies Incorporated will be a wholly owned subsidiary of MSI. The company will continue to support both the Medicine Shoppe® and Medicap Pharmacy® Brands. Terms of the acquisition were not disclosed.
“Similar to The Medicine Shoppe® Pharmacies, Medicap Pharmacy locations focus on personalized patient care and services, making the combination an ideal fit,” said Bob Storch, president of Medicine Shoppe International, Inc. “The completion of this transaction represents a major milestone in helping us achieve our vision of building a world-class pharmacy system.”
The companies plan to continue to offer franchisees a business proposition that enables them to control their hours, select their location, and receive the financial and personal benefits of owning their own business. The result will be a network of more than 1,100 Medicine Shoppe® and Medicap Pharmacy® locations that offer a personalized, expert, individualized service.

“Medicine Shoppe International represents a great opportunity for our franchisees, and the complementary nature of our businesses will also bring benefits to our patients,” said Bill Kimball, chairman and CEO of Medicap Pharmacies Incorporated. “Through this opportunity, Medicap Pharmacies Incorporated will benefit from MSI’s depth of resources and buying power.”

About Medicine Shoppe International
Medicine Shoppe International, Inc. (www.medicineshoppe.com), a Cardinal Health company, is distinguished for its commitment to providing expert, personal health care. With approximately 1,000 Medicine Shoppe® Pharmacies in the U.S. and more than 250 pharmacies in 6 other countries, Medicine Shoppe® Pharmacies fill approximately 47 million prescriptions per year, making Medicine Shoppe International the largest franchisor of independent community pharmacies in the United States, and one of the top three franchises in the health care industry.

About Medicap Pharmacies Incorporated
Medicap Pharmacies, Incorporated (www.medicap.com), is a wholly owned subsidiary of Medicine Shoppe International, and provides personal and professional care in 181 locations in 34 states. Headquartered in West Des Moines, Iowa, Medicap Pharmacies Incorporated boast prime store locations, state-of-the art store design, instant accessibility to the pharmacist and other innovative services that have helped Medicap Pharmacies Incorporated in redefining the meaning of convenience and the delivery of professional pharmacy services.

About Cardinal Health
Cardinal Health, Inc. is the leading provider of products and services supporting the health care industry. Cardinal Health develops, manufactures, packages and markets products for patient care; develops drug-delivery technologies; distributes pharmaceuticals, medical, surgical and laboratory supplies; and offers consulting and other services that improve quality and efficiency in health care. Headquartered in Dublin, Ohio, Cardinal Health employs more than 50,000 people on six continents and produces annual revenues of more than $50 billion. Cardinal Health is ranked #19 on the current Fortune 500 list and was named one of “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 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 healthcare products and/or services, the costs and other effects of governmental regulation and legal and administrative proceedings, and general economic conditions. Cardinal Health undertakes no obligation to update or revise any forward-looking statements.