WESTPORT, Conn., May 27 /PRNewswire/ -- Cognizant Corporation (NYSE: CZT)
today announced that it has received a favorable tax ruling from the Internal
Revenue Service as to the tax-free treatment of the company's planned
separation into two public corporations -- IMS HEALTH and Nielsen Media
Research -- by mid-1998.
"We're on track to complete the tax, legal and operational requirements
for the spin-off by mid-year," said Robert E. Weissman, Cognizant Chairman and
CEO.
Cognizant Corporation integrates information and technology to create
business insight. Its principal operating units are IMS, which offers global
information solutions to the pharmaceutical and healthcare industries, and
Nielsen Media Research, the leader in audience measurement for electronic
media. Cognizant also is the largest shareholder of Gartner Group, the
premier provider of research and advisory services to the information
technology industry. Additional information is available at Cognizant's web
site: http://www.cognizantcorp.com.
SOURCE Cognizant Corporation
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http://www.cognizantcorp.com
CONTACT:
Joseph C. Allen of Cognizant Corporation,
203-222-4235
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