Covance Reiterates Full Year 2011 Revenue and Pro Forma EPS

Covance Inc.

today announced that its Chairman and CEO, Joe Herring, will present at the 30th Annual J.P. Morgan Healthcare Conference on Wednesday, January 11, 2012 at 12:30 p.m. ET. Investors may access a live webcast of the presentation at www.covance.com. In order to register and download any necessary software, please log on 10 minutes early. During Mr. Herring's presentation, he will reiterate the Company's previously announced full-year 2011 guidance of high single-digit revenue growth and pro forma earnings of approximately $2.70 per diluted share. While the fourth quarter financial results are still subject to review, the company expects Late-Stage Development segment to have outperformed fourth quarter expectations (primarily led by central laboratories) and the Early Development segment to have underperformed expectations (primarily due to lower demand in research products and European toxicology). The Company expects to announce its financial guidance for 2012 in conjunction with the release of its full-year 2011 results on January 25, 2012 after market close. Financial guidance for 2012 will reflect December 30, 2011 exchange rates, incremental investment in IT infrastructure and systems, and an increase in its commercial footprint.