
                                                               EXHIBIT 99
                           FOR IMMEDIATE RELEASE

                  Contact:  Pamela Sherry (910) 584-5171
        

           LABORATORY CORPORATION OF AMERICA[Trademark] HOLDINGS
             REPORTS SUCCESSFUL COMPLETION OF RIGHTS OFFERING

Burlington, NC, June 19, 1997 -- Laboratory Corporation of
America[Trademark] Holdings (LabCorp[Trademark]) (NYSE: LH) today
announced the results of the rights offering which expired June 16, 1997 at
5:00 p.m.  New York time.  According to American Stock Transfer & Trust
Company, the Subscription and Information Agent, rights were exercised to
purchase 4,363,202 shares of 8 1/2% Series A Convertible Exchangeable
Preferred Stock and 5,636,798 shares of 8 1/2% Series B Convertible Pay-in-
Kind Preferred Stock for an aggregate purchase price of $500,000,000, of
which $11,631,500 represents shares purchased pursuant to the
oversubscription privilege.  Roche Holdings, Inc., the owner of
approximately 49.9% of LabCorp's common stock, exercised its basic
subscription privilege in full for 4,988,522 shares of 8 1/2% Series B
Convertible Pay-in-Kind Preferred Stock and other rights holders purchased
the remaining 5,011,478 shares.  The offer was oversubscribed and payment
for subscriptions for 3,983,405 shares will be returned in accordance with
the terms of the rights offering.  There were a sufficient number of shares
subscribed in each series so that both series will be listed on the New
York Stock Exchange.

Credit Suisse First Boston Corporation acted as dealer manager for the
rights offering.

Laboratory Corporation of America Holdings is a national clinical
laboratory organization with revenues of $1.6 billion in 1996.  The Company
operates primary testing facilities nationally, offering more than 1,700
different clinical assays, from routine blood analysis to more
sophisticated technologies.  LabCorp performs diagnostic tests for
physicians, managed care organizations, hospitals, clinics, long-term care
facilities, industrial companies and other clinical laboratories.
