LabCorp(R) Scheduled to Present at UBS Warburg Global Life Sciences Conference

BURLINGTON, N.C., Oct 10, 2001 /PRNewswire via COMTEX/ -- Laboratory Corporation of America(R) Holdings (NYSE: LH) (LabCorp(R)) today announced that Thomas P. Mac Mahon, chairman and chief executive officer, is scheduled to speak at the UBS Warburg Global Life Sciences Conference in New York City, NY on Thursday, October 11 at 1:00 p.m. Eastern Time. The presentation will be available via listen-only conference lines. The recorded conference lines will be available for up to four weeks after the conference. The call-in numbers are:

    Live: 1-800-500-0177 (domestic) and 1-719-457-2679 (international)
    Recorded: 1-888-566-0785 (domestic) and 1-402-220-0102 (international)

At the conference, Mr. Mac Mahon will reiterate Company guidance for 2001 and 2002, as filed in an 8K on July 23 and up-dated on September 19 to include the accretive impact to EPS of its private placement of zero coupon convertible subordinated notes due 2021. Mr. Mac Mahon will state, "For 2001, we expect revenue growth of 12.5 percent, EBITDA margins of approximately 21 percent of sales and EPS growth of approximately 50 percent. For 2002, we expect to increase overall revenues in the low double-digit range, and we expect EPS growth of approximately 30 percent compared to 2001."

The first national clinical laboratory to fully embrace genomic testing, Laboratory Corporation of America(R) Holdings (LabCorp(R)) has been a pioneer in commercializing new diagnostic technologies. As a national laboratory with annual revenues of $1.9 billion in 2000 and over 18,000 employees, the company offers more than 4,000 clinical tests ranging from simple blood analyses to sophisticated molecular diagnostics. Serving over 200,000 clients nationwide, LabCorp leverages its expertise in innovative clinical testing technology with its Centers of Excellence. The Center for Molecular Biology and Pathology, in Research Triangle Park, North Carolina, offers state-of-the-art molecular gene-based testing in infectious disease, oncology and genetics. Its National Genetics Institute in Los Angeles is an industry leader in developing novel, highly sensitive polymerase chain reaction (PCR) methods for testing hepatitis C and other blood borne infectious agents. LabCorp's Minneapolis-based Viro- Med offers molecular microbial testing using real time PCR platforms, while its Center for Esoteric Testing in Burlington, North Carolina, performs the largest volume of specialty testing in the network. LabCorp's clients include physicians, state and federal government, managed care organizations, hospitals, clinics, pharmaceutical and Fortune 1000 companies, and other clinical laboratories.

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. 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, 2000 and subsequent SEC filings.

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SOURCE Laboratory Corporation of America Holdings

CONTACT:          Pamela Sherry of Laboratory Corporation of America Holdings,
                  +1-336-436-4855, or Shareholder Direct, +1-800-LAB-0401

URL:              http://www.labcorp.com 
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