Davaco Awarded CVS Pharmacy Rx Remodel Initiative

1,352 stores to be remodeled in six months

Dallas, TX - March 21, 2003 - Davaco, the retail industry's leading single-source partner for the management and execution of new stores, remodels/resets and high-volume rollouts, has recently been awarded a 1,352 remodel program from CVS Pharmacy. CVS has revised its pharmacy layout to improve the frequency of customer to pharmacy interaction, increase the response rate to customer need and streamline behind the scenes functionality support of respective support services. The CVS initiative is now being implemented nationwide.

Davaco has been working with CVS as a preferred service provider for several years. CVS awarded Davaco the program largely because of its broad range of services and ability to provide a single-source solution. Over the next six months, Davaco will complete site surveys for each of the selected locations, provide consolidation points, coordinate the distribution of fixtures and products, as well manage all subcontractors and related services. Davaco's field operations team will work within the store to modify existing counters, install new fixtures and cabinetry, and revise electrical/data cable layouts and installation. All stores will be executed according to the revised layout and specs per each location. To complete the program on time and on budget, the Davaco team will be executing 50 store remodels per week.

“Davaco has had the privilege of establishing a great working relationship with CVS Pharmacy. We see this large-scale project as a true testament to the quality of services we provide our clients,” said Paul Hamer, executive vice president of sales for Davaco. “The number of stores and timeframe given for this project create a logistical challenge. Fortunately, we have a great project management staff and a nationwide base of over 400 employees to tap into – this trained labor force is what will enable us to complete 50 store locations per week over a 26 week period.”