WESTPORT, Conn., June 15 /PRNewswire/ -- The Board of Directors of
Cognizant Corporation (NYSE: CZT) today declared a special dividend to
shareholders, the final step in the spin-off of IMS HEALTH.
"The dividend declaration completes Cognizant's transformation into two
independent companies -- IMS HEALTH and Nielsen Media Research -- each with
leadership positions in their industries and excellent prospects for the
future," said Robert E. Weissman, Cognizant Chairman and CEO.
Shareholders will receive one share of IMS HEALTH common stock for each
share of Cognizant common stock, payable to shareholders of record at the
close of business on June 25, 1998.
"When-issued" trading is expected to begin on or about June 23, 1998 on
the New York Stock Exchange. IMS HEALTH shares will trade under the symbol
"RX," and Nielsen Media Research shares will trade under the symbol "NMR."
Stock certificates for IMS HEALTH shares will be distributed on or about
July 1, 1998. Shareholders should retain their Cognizant stock certificates,
which will represent shares of Nielsen Media Research when Cognizant's name
changes to Nielsen Media Research at the time of the IMS HEALTH spin-off.
IMS HEALTH
IMS HEALTH (NYSE: RX) is the world's leading provider of information
solutions to the pharmaceutical and healthcare industries. With more than
$1 billion in 1997 revenue, IMS HEALTH operates in over 90 countries.
IMS HEALTH is the largest pharmaceutical manufacturer information partner,
with over 40 years' experience in the industry. Key products and services
integral to customer day-to-day operations include: market research for
prescription and over-the-counter pharmaceutical products; sales management
information to optimize sales force productivity; technology enabled selling
solutions for sales and marketing decision-making; and technology systems and
information services that support managed care organizations.
Nielsen Media Research
Nielsen Media Research (NYSE: NMR), the leading source of television
audience measurement services, generated revenue of more than $350 million in
1997. Its National People Meter Service provides audience estimates for all
national programming sources, including broadcast networks, cable networks,
and national syndicators. Local ratings services estimate audiences for each
of 211 television markets in the U.S., including electronic metered service in
40 markets.
Additional information is available at Cognizant's web site:
http://www.cognizantcorp.com.
SOURCE Cognizant Corporation
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CONTACT:
Joseph C. Allen of Cognizant Corporation,
203-222-4235
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