Covance Chairman and CEO Joe Herring Named 2011 New Jersey Ernst & Young Master Entrepreneur Of The Year®

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Recognized for excellence, success and innovation in business; commitment to communities

Princeton, N.J., June 27, 2011 — Covance Inc. (NYSE: CVD), one of the world’s largest and most comprehensive drug development services companies, today announced that Joe Herring, Chairman and Chief Executive Officer, received the Ernst & Young Master Entrepreneur Of The Year Award at the 2011 New Jersey program’s 25th anniversary gala, held Thursday, June 23.

The Master Entrepreneur Of The Year Award — the organization’s highest honor — recognizes individuals who demonstrate the ability to maintain management excellence over a sustained period of time, in conjunction with sound management practices, high company values and strong relationships with employees, customers, suppliers, and shareholders. 

“I share this honor with all Covance employees who have embraced our noble mission of bringing miracles of medicine to market sooner,” said Herring.  “We all should be proud that our decade-long pursuit of innovative ways to grow our business has earned Covance the recognition as one of the best entrepreneurial-minded companies in New Jersey.”

Award recipients were selected by an independent judging panel made up of previous winners, including leading CEOs, private capital investors and other regional business leaders.  As a regional winner, Herring is eligible for consideration for the Ernst & Young Entrepreneur Of The Year national program in November.

About Covance Inc.
Covance, with headquarters in Princeton, New Jersey, is one of the world's largest and most comprehensive drug development services companies with annual revenues greater than $1.9 billion, global operations in more than 30 countries, and more than 10,000 employees worldwide. Information on Covance’s products and services, recent press releases, and SEC filings can be obtained through its website at http://www.covance.com.

About Ernst & Young Entrepreneur Of The Year
Ernst & Young Entrepreneur Of The Year is the world’s most prestigious business award for entrepreneurs.  The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential, and recognizes the contribution of people who inspire others with their vision, leadership and achievement.  As the first and only truly global award of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic business, recognizing them through regional, national and global awards programs in more than 140 cities in more than 50 countries.