(Source: Business Wire)Laboratory Corporation of America® Holdings (NYSE: LH) and Monogram Biosciences, Inc. (NASDAQ: MGRM) today announced that LabCorp is extending until 12:00 midnight, New York City time, at the end of the day on Monday, August3, 2009 LabCorp's previously announced cash tender offer for all outstanding shares of the common stock of Monogram Biosciences, Inc. The offer was extended to allow for the public disclosure of amendments to LabCorp's offer to purchase and Schedule TO and Monogram's solicitation/recommendation statement on Schedule 14D-9 to reflect the settlement of certain legal proceedings.

LabCorp and Monogram announced that LabCorp and Monogram have agreed in principle with the shareholder plaintiffs to settle purported class action lawsuits filed in the Court of Chancery of the State of Delaware and in the Superior Court of the State of California, San Mateo County relating to the pending tender offer and subsequent merger. Under the terms of the proposed settlements, the claims of the named plaintiffs and the proposed class of public shareholders relating to the tender offer and the related agreement and plan of merger entered into by LabCorp and Monogram on June22, 2009 and the transactions contemplated thereby will be dismissed. Finalization of the proposed settlements remains subject to several conditions, including court approval and completion of the tender offer and the other transactions contemplated by the agreement and plan of merger in accordance with its terms. In connection with the proposed settlements, Monogram has agreed to provide additional disclosures in Monogram's solicitation/recommendation statement on Schedule 14D-9. The settlements will not affect the price of $4.55 per share paid in the offer or the consideration to be paid in the subsequent proposed merger.

As announced previously, on July 1, 2009, LabCorp, through its wholly owned subsidiary Mastiff Acquisition Corp., commenced a tender offer for all outstanding shares of Monogram at a price of $4.55 per share net to the seller in cash without interest and subject to applicable withholding taxes. The tender offer was previously set to expire at 12:00 midnight, New York City time, at the end of the day on Wednesday, July 29, 2009, and will now expire at 12:00 midnight, New York City time, at the end of the day on Monday, August3, 2009.