Covance To Present At Bear Stearns 15th Annual Healthcare Conference.

Business Editors

PRINCETON, N.J.--(BUSINESS WIRE)--Sept. 12, 2002

Covance Inc. (NYSE: CVD) will participate in "Bear Stearns 15th Annual Healthcare Conference" at The Waldorf Astoria in New York City, New York on Wednesday, September 18, 2002 at 2:30 p.m. EST. Chris Kuebler, Covance's Chairman and Chief Executive Officer, will make a formal presentation at the event.

Mr. Kuebler will reiterate that Covance remains comfortable with its full-year EPS target of $0.83-$0.85 per share, which represents earnings growth of more than 30% for the year. EPS excludes the amortization of goodwill in accordance with FAS 142.

The conference is being webcast live and can be accessed with accompanying slideshow on the Internet at http://www.covance.com. The presentation will also be archived at the URL listed above.

Covance, with headquarters in Princeton, New Jersey, is one of the world's largest and most comprehensive drug development services companies with 2001 pro forma revenues of $800 million, global operations in 17 countries, and approximately 7,000 employees worldwide. Information on Covance's products and services, recent press releases, and SEC filings can be obtained through our website at www.covance.com.

Statements contained in this press release, which are not historical facts, such as statements about prospective earnings, savings, revenue, operations, revenue and earnings growth and other financial results are forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All such forward-looking statements including the statements contained herein regarding anticipated trends in the Company's business are based largely on management's expectations and are subject to and qualified by risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, without limitation, competitive factors, outsourcing trends in the pharmaceutical industry, the Company's ability to continue to attract and retain qualified personnel, the fixed price nature of contracts or the loss of large contracts, the Company's ability to increase profitability of its clinical development services and to increase order volume in central laboratory services, and continued growth in demand for bioanalytical services and Covance's ability to provide these services on a large scale basis, and other factors described in the Company's filings with the Securities and Exchange Commission including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. All information in this release is as of September 12th, 2002. The Company undertakes no duty to update any forward looking statement to conform the statement to actual results or changes in the Company's expectations.