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DUBLIN, Ohio, July 2, 2002 - In light of the unusual trading activity in Cardinal Health's stock in the past two days and in response to inquiries from shareholders, the Company today issued a statement from Robert D. Walter, Chairman and Chief Executive Officer of Cardinal Health, Inc. (NYSE: CAH). Mr. Walter's statement addresses erroneous rumors in the market about a recent S-8 filing with the Securities and Exchange Commission (SEC). In addition, with the recent completion of the Company's fourth quarter, the company stated that it is comfortable with analyst consensus earnings per share estimates of $0.73 per share for the fourth quarter and reaffirms its previous guidance for growth in earnings in fiscal 2003 of twenty percent or more.

The Company plans to host a conference call today to discuss the recent stock activity and its outlook for the quarter and fiscal 2003. The conference call will begin at 3:30 p.m. Eastern Time today. The company has established a call-in number at 706-679-0766. A replay of the conference call will be available until 5:00 p.m. Eastern Time July 5 by dialing 706-645-9291 reservation number 4801201.

"We find ourselves in an unprecedented time of suspicion and lack of trust in the capital markets. Given this unusual climate, we at Cardinal Health have taken the unusual step of issuing this release to reassure our investors," said Robert Walter, Chairman and Chief Executive Officer. "We understand investors' concerns about recent developments in the capital markets and we share those concerns. With respect to Cardinal Health, however, I can assure the investment community that any accounting concerns are unfounded. Cardinal Health continues to adhere to the same high standards of reporting as we have prided ourselves in ever since going public in 1983."

"We believe that the trading activity in our stock over the past two days has been due to an erroneous rumor in the marketplace about our prior relationship with Arthur Andersen over the past few years," added Mr. Walter. Specifically, on Friday June 28, 2002 Cardinal Health filed a routine S-8 registration statement with the SEC related to the registration of additional common shares for a recent acquisition and for Cardinal Health's 401K plan. In that statement, Cardinal Health indicated that it was unable to obtain a written consent from Arthur Andersen to use a previously issued opinion on historical financial statements in the S-8 registration statement. Cardinal Health was unable to obtain Arthur Andersen's consent due to Andersen being unable to provide the staffing resources necessary to prepare the consent. The SEC anticipated exactly this type of situation when they recently issued guidelines on how to deal with the lack of written consents specific to prior clients of Arthur Andersen (Rule 437a under the Securities Act of 1933). The SEC guidelines specifically permit the filing of financial statements without written consent from Arthur Andersen so long as standard language is included in the filing per the SEC guidelines. Those guidelines can be viewed at http://www.sec.gov/rules/final/33-8070.htm. Cardinal Health fully complied with those guidelines in the S-8 filing.

"Cardinal Health has not had any disagreements with our auditors regarding accounting principles or other elements of our audits," said Richard Miller, Chief Financial Officer. "We maintain straight-forward accounting practices, with over 97% of our revenues based on the delivery of tangible goods and transfer of title. The rumor in the market regarding our relationship with our auditor or any accounting improprieties is quite simply erroneous."

"Cardinal Health is proud of its tradition of financial performance and level of candor in its disclosure to the investment community," said Robert Walter, Chairman and Chief Executive Officer. "We look forward to reporting a strong fiscal fourth quarter which will reflect the solid operating fundamentals of our company. Our fourth quarter performance will at least meet analyst consensus estimates for the quarter. Our outlook for fiscal 2003 is strong and we fully expect to grow earnings at 20% or more."

About Cardinal Health

Cardinal Health, Inc. (NYSE: CAH) (www.cardinal.com), is the leading provider of products and services supporting the health care industry. Cardinal Health companies develop, manufacture, package and market products for patient care; develop drug-delivery technologies; distribute pharmaceuticals, medical-surgical and laboratory supplies; and offer consulting and other services that improve quality and efficiency in health care. Headquartered in Dublin, Ohio, Cardinal Health employs more than 49,000 people on five continents and produces annual revenues of more than $40 billion. Cardinal Health is ranked #23 on the current Fortune 500 list and was named as one of the "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 health-care 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.