CVS HEALTH Corp — Director's Dealing 2004

May 20, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CVS CORP (CVS)
CIK: 0000064803
Period of Report: 2004-05-18

Reporting Person: RYAN THOMAS M (Director, Chairman & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-05-18	Common Stock	M	2900	$16.7223	Acquired	65027	Direct
2004-05-18	Common Stock	M	123230	$16.1811	Acquired	188257	Direct
2004-05-18	Common Stock	S	28030	$40.25	Disposed	160227	Direct
2004-05-18	Common Stock	S	25200	$40.2	Disposed	135027	Direct
2004-05-18	Common Stock	S	72900	$40.1	Disposed	62127	Direct
2004-05-19	Common Stock	M	197100	$16.7223	Acquired	259227	Direct
2004-05-19	Common Stock	S	40400	$40.15	Disposed	218827	Direct
2004-05-19	Common Stock	S	42800	$40.16	Disposed	176027	Direct
2004-05-19	Common Stock	S	52600	$40.17	Disposed	123427	Direct
2004-05-19	Common Stock	S	25700	$40.18	Disposed	97727	Direct
2004-05-19	Common Stock	S	5700	$40.19	Disposed	92027	Direct
2004-05-19	Common Stock	S	4600	$40.2	Disposed	87427	Direct
2004-05-19	Common Stock	S	500	$40.21	Disposed	86927	Direct
2004-05-19	Common Stock	S	5800	$40.22	Disposed	81127	Direct
2004-05-19	Common Stock	S	6600	$40.23	Disposed	74527	Direct
2004-05-19	Common Stock	S	4600	$40.24	Disposed	69927	Direct
2004-05-19	Common Stock	S	7800	$40.25	Disposed	62127	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-05-18	Stock Option	$16.1811	M	123230	Disposed	2005-04-11	Common Stock (123230)	Direct
2004-05-18	Stock Option	$16.7223	M	2900	Disposed	2006-04-14	Common Stock (2900)	Direct
2004-05-19	Stock Option	$16.7223	M	197100	Disposed	2006-04-14	Common Stock (197100)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	482809	Indirect
ESOP Preference Stock	1408	Indirect
Common Stock (Restricted)	171711	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$23	2007-02-17	Common Stock (391320)	391320	Direct
Stock Option	$25.125	2013-01-09	Common Stock (450000)	450000	Direct
Stock Option	$29.925	2012-01-02	Common Stock (506062)	506062	Direct
Stock Option	$35.335	2011-01-08	Common Stock (200000)	200000	Direct
Stock Option	$36.6953	2008-02-27	Common Stock (195660)	195660	Direct
Stock Option	$37.3125	2008-03-12	Common Stock (600000)	600000	Direct
Stock Option	$38.5625	2010-01-03	Common Stock (200000)	200000	Direct
Stock Option	$50	2009-03-10	Common Stock (150000)	150000	Direct
Stock Option	$60.525	2011-03-07	Common Stock (250000)	250000	Direct
Phantom Stock Credits	$1		Common Stock (614)	614	Direct

Footnotes

F1: Includes shares acquired pursuant to issuer's Employee Stock Purchase Plan.

F2: Includes dividend reinvestment shares acquired during the course of the year.

F3: Reflects stock beneficially owned pursuant to issuer's ESOP Plan.

F4: Reflects 2002 and 2003 year end company match share credits of 33 and 581, respectively, under a non-qualified deferred compensation plan; share credits are payable in cash only, at such time as has been elected by the reporting person.