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BAXTER BOARD DECLARES DIVIDEND OF CAREMARK STOCK

 BAXTER BOARD DECLARES DIVIDEND OF CAREMARK STOCK
 DEERFIELD, Ill., Oct. 28 /PRNewswire/ -- Baxter International


(NYSE: BAX) announced that its board of directors today declared a dividend of one share of common stock of Caremark International for each four shares held of Baxter International common stock. Distribution of the dividend is subject to receipt of a ruling from the Internal Revenue Service and an effectiveness order from the Securities and Exchange Commission related to a Form 10 registration statement previously filed by Baxter. The ruling from the Internal Revenue Service would indicate that the distribution is generally tax-free to shareholders and to Baxter.
 If the government rulings are received by Baxter prior to Nov. 27, 1992, the dividend will be distributed on Nov. 30, 1992, to Baxter shareholders of record on that date. Baxter shareholders who would be entitled to fractional shares of Caremark International will receive a cash equivalent in lieu of such fractional shares.
 The distribution will complete the spin-off -- announced by Baxter in June -- of Caremark International as an independent, publicly traded company serving "alternate-site" health care. Caremark provides products and services for home health care, infusion therapy, AIDS care, women's health care, physical therapy and prescription services.
 Baxter is the leading manufacturer and marketer of health-care products, systems and services worldwide.
 -0- 10/28/92
 /CONTACT: Geoffrey D. Fenton, 708-948-3436, for Baxter/
 (BAX) CO: Baxter International; Caremark International ST: Illinois IN: MTC SU: DIV


LD -- NY128 -- 6288 10/28/92 17:32 EST
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Publication:PR Newswire
Date:Oct 28, 1992
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