| COVANCE ELECTS SANDRA L. HELTON TO BOARD OF DIRECTORS |
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Princeton, New Jersey, September 25, 2003 — Covance Inc. (NYSE: CVD) today announced that it has elected Sandra L. Helton, Executive Vice President and Chief Financial Officer of Telephone and Data Systems Inc. (AMEX: TDS), to its Board of Directors, effective September 25, 2003.
Ms. Helton brings to Covance a wealth of knowledge from the financial and managerial arenas. Since 1998 Ms. Helton has held the role of CFO for TDS, a Fortune 500 telecommunications services company with approximately $3 billion in revenues, 11,000 employees, and 5.4 million wireless and local telephone customers in 35 states. Prior to 1998, she was Vice President and Corporate Controller of Compaq Computer Corporation from 1997-1998. Previously, Ms. Helton was Senior Vice President and Treasurer of Corning Incorporated.
Ms. Helton also is a Director of TDS, United States Cellular Corporation (AMEX: USM) (a publicly held affiliate of TDS), and The Principal Financial Group.
"I am delighted to welcome Sandy Helton to the Covance Board of Directors. Her experience in managing complex organizations and financial issues for large, technology based companies will greatly contribute to Covance's ability to create shareholder value and to meet our clients' drug development needs," said Chris Kuebler, Covance Chairman and Chief Executive Officer.
Covance, with headquarters in Princeton, New Jersey, is one of the world's largest and most comprehensive drug development services companies with 2002 net revenues of $883 million, global operations in 18 countries, and approximately 6,800 employees worldwide. Information on Covance's products and services, recent press releases, and SEC filings can be obtained through the website in the About Covance area. |
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