LabCorp announces extension of cash tender offer for outstanding shares of Orchid Cellmark

Laboratory Corporation of America® Holdings (NYSE: LH) today announced that LabCorp is extending until 6:00 p.m., New York City time, on June 1, 2011 LabCorp's previously announced cash tender offer for all outstanding shares of the common stock of Orchid Cellmark Inc. (NASDAQ: ORCH). On May 17, 2011, LabCorp received a request from the Federal Trade Commission, or the FTC, for additional information under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, applicable to the acquisition of Orchid by LabCorp. LabCorp will cooperate with the FTC's request for additional information.

The depositary for the tender offer has advised LabCorp that as of 5:00 p.m., New York City time, on May 17, 2011, stockholders of Orchid had validly tendered, and not withdrawn, 25,526,141 shares of Orchid common stock, including 138,764 shares of Orchid common stock tendered through notices of guaranteed delivery. The shares tendered represent approximately 85.1% of the outstanding shares of Orchid, and approximately 84.6% excluding the shares tendered by notices of guaranteed delivery (or approximately 78.04% and 77.6%, respectively, calculated on a fully diluted basis).

As announced previously, on April 19, 2011, LabCorp, through its wholly owned subsidiary OCM Acquisition Corp., commenced a tender offer for all outstanding shares of Orchid at a price of $2.80 per share net to the seller in cash without interest and subject to applicable withholding taxes. The tender offer was made pursuant to the previously announced merger agreement among LabCorp, OCM Acquisition Corp. and Orchid dated as of April 5, 2011. The tender offer was previously set to expire at 5:00 p.m., New York City time, on Tuesday, May 17, 2011, and will now expire at 6:00 p.m., New York City time, on June 1, 2011, unless further extended.