We
are confident that each of the non-profits we chose to work with in the coming
year will create positive change and influence in the communities we serve
together," said Howard Dunn.

"With a Community Endowment that now exceeds $113 million, generating more
than
$6 million in local grantmaking, it is important to us to receive honest
assessments on how well we are serving the nonprofit community, which is
one of our two key constituencies," said Sterling Speirn, President,
Peninsula Community Foundation. Since 2002, the SBC Foundation has allocated $27
million through SBC Excelerator grants, supporting more than 1,500
nonprofit organizations across the nation.

seeks renewal

com/
Contact name at organization: Amy Riordan (314) 241-1600

The CVS/pharmacy Charitable Trust will be accepting applications for 2005
grants from May 1 to June 15 , 2005. "Improving technology has helped us strengthen the services
and information management activities that help us help the
community. In Houston, Texas, a $20,000 SBC
Excelerator grant to the Association for the Advancement of Mexican
Americans enabled the organization to purchase computers, software ,
and web services.
The SBC Foundation is the charitable giving arm of SBC
Communications Inc .

strength spf

7 million dollars in grant funds provided by
CVS/pharmacy's charitable foundation to 76 organizations across the country --

WOONSOCKET, R. "A CVS/pharmacy
Charitable Trust grant is an effective way for us to give back to the
communities where we do business," stated Howard Dunn. Grants will range
from $2,500 to $25,000 and are one year in length. The Foundation Center has consistently ranked the SBC
Foundation among the nation's top fifteen corporate foundations.

describes coexistence

Grants were awarded to organizations dedicated to healthcare, education
and community engagement. "They are
one of the leaders in funding innovative and well planned projects that
yield positive results."
The SBC Excelerator grant program will award $6 million in
competitive technology-related grants, enabling nonprofit
organizations to integrate technology into their ongoing operations
and community outreach . SBC companies also
now offer satellite TV service.

improve nonprofit

, The CVS/pharmacy
Charitable Trust, the private foundation managed by CVS Corporation
(NYSE: CVS), announced today that it has awarded a $5,000 grant to one non-
profit organization in Missouri.

For additional information, go to
http: //www. Peninsula Community Foundation is
a registered trademark, and Center for Venture Philanthropy , Peninsula
Partnership for Children, Youth and Families, and the Peninsula Nonprofit
Center are trademarks of Peninsula Community Foundation.sbc.

nonprofit renewal

Missouri based organization that received a grant from the CVS/pharmacy
Charitable Trust is:

The National Children's Cancer Society
Description of grant: The society's mission is to improve quality of life
for children with cancer and to reduce risk of cancer.9369 or
visit www."
2005 SBC Excelerator grants will help nonprofit organizations
across the U. SBC holds a 60 percent ownership
interest in Cingular Wireless , which serves 49.1 million wireless
customers.

grantees peace

cvs. SBC companies provide high-speed DSL Internet access lines
to more American consumers than any other provider and are among the
nation's leading providers of Internet services.

gives pluralistic

The Trust's mission is to provide funding for health care, education and
community involvement initiatives in communities where CVS stores are located.cvs.com

gives pluralistic

I.
"We are pleased to support these very worthy charities that are working
hard in our communities to improve people's lives," said Eileen Howard Dunn,
Vice President of the CVS/pharmacy Charitable Trust. PCF
is easy to work with, responsive and an incredible resource -- we are
extremely fortunate and blessed to be working with them. For more information call 650.358.sbc.
"The SBC Excelerator program is founded on the idea that
technology access and resources can improve the lives of people in
communities across the nation," says Laura Sanford, president of the
SBC Foundation.S. The funds also covered installation, training, and
technical support for this equipment, allowing Latino Technology
Network Alliance partners to collaborate on program services. Since
1984, SBC Communications and the SBC Foundation have contributed more
than $1 billion to nonprofit organizations across the country. In
2002, the SBC Foundation launched SBC Excelerator, a multimillion
dollar competitive grants program that funds nonprofit organizations
in their efforts to digitally connect communities . is a Fortune 50 company whose
subsidiaries, operating under the SBC brand, provide a full range of
voice, data, networking, e-business, directory publishing and
advertising, and related services to businesses, consumers and other
telecommunications providers.

reports areas

With the Trust's assistance, funding will help provide financial
assistance which will cover health insurance premiums, as well as
supplementary expenses to allow parents to stay with their hospitalized
children such as food, lodging, phone and travel costs.
Link to website: http://www.

Business Editors

SAN ANTONIO----

$9 million program now available to nonprofit organizations to
build stronger communities through technology

The SBC Foundation - the philanthropic arm of SBC Communications
Inc.
"The SBC Excelerator grant has greatly improved the efficiency and
effectiveness in all of our small business program areas," said
Cynthia Amador, President and CEO of the Los Angeles-area CHARO
Community Development Corporation, a 2004 SBC Excelerator grant
recipient.

reports grants

com, or through the
website's press room at http://www.

PRESS RELEASE Peninsula Community Foundation Receives High Scores From Center for Effective Philanthropy Survey

Based on the
survey responses, the Center for Effective Philanthropy noted that,
"Peninsula Community Foundation (PCF) is highly rated across nearly all
dimensions, a finding that is unusual in the Center's experience. Completed
applications are due June 15, 2005.

reports seeks

-- Local donations are part of 1.com/pressroom.
Peninsula Community Foundation today
announced the release of its results from the 2005 Grantee Perception
Report (GPR) compiled by the Center for Effective Philanthropy, a national
nonprofit organization based in Cambridge, Massachusetts . We look forward to continuing
to work closely with our grantees so as to become an even more effective
philanthropic and community partner in the years to come.

peace improve

nationalchildrenscancersociety. (NYSE:SBC ) - today announced the opening of its 2005 SBC
Excelerator technology grants program.

nobel grantees

In many cases, CVS/pharmacy associates become involved with grantees by
providing volunteer assistance, participating in other fund-raisers and
assisting in outreach and education services. Pediatric Oncology
Program is ongoing program that provides financial assistance, emotional
support, advocacy and education programs for families with children suffering
from cancer.cvs. Both our
Center for Venture Philanthropy and our Community Programs staff are
committed to high-engagement work with our grantees, but we need to see how
we can streamline some of our evaluation requirements so that they are not
'cumbersome ' as one survey respondent noted. SBC Foundation-backed programs are designed
to increase access to information technologies, broaden technology
training and professional skills development, and effectively
integrate new technologies to enhance education and economic
development.

grants philanthropy

Through their grants , we have been able provide the
highest quality healthcare services to over 11,000 patients over the past 3
years, in an area that desperately needed a community health provider. Grant recipients of the 2004 SBC Excelerator program are
eligible to submit a grant application for the 2005 program .

values spf

com/corpInfo/community/charitable_mission.
General information about CVS is available through the Investor Relations
portion of the Company's website at http://investor. "The Report is also an excellent benchmarking tool and a
good indicator of areas where we can become more efficient."

"PCF is very committed to improving the quality of life for members of our
community, and they understand the needs of our region because the program
officers go into the field and conduct their own research ," said Luisa
Buada, Chief Executive Officer, Ravenswood Family Health Center.org. Interested organizations can apply for this
year's grant by downloading a copy of the 2005 request for proposals
(RFP) from www.

gives pluralistic

"The foundation focuses on those projects that
clearly demonstrate they are meeting a need within the community, and where
collaborative efforts and measurement tools are in place to track success.

CONTACT:
Mike DeAngelis
CVS Corporation
401-770-2645

For example,
our lowest score in the survey was at the median level for 'dollar return
on grantee administrative hours.com/foundation
SBC Excelerator will provide the remaining $3 million in
invitational grants to support exceptional national organizations and
programs.
To qualify for an SBC Excelerator grant, an organization's major
focus and project must emphasize education , community development,
health and human services, or arts and culture. The SBC Foundation supports efforts that enrich
and strengthen diverse communities nationwide, particularly those with
an emphasis on education and technology and those that benefit
underserved populations.

improve reports

-- The foundation is ranked highest among community foundations surveyed
in the quality of its interactions , impact on grantee organizations and
overall satisfaction.

areas foundation

pcf. Now in its fourth year, SBC
Excelerator will provide $9 million to national and local nonprofit
organizations for projects that use technology to build stronger
communities.
The SBC Excelerator program is the largest special grants program
ever undertaken by the SBC Foundation, one of the top corporate
foundations in the nation, according to The Foundation Center.

seeks foundation

" The
Center surveyed more than 22,000 grantees of 117 foundations nationwide in
2003 and 2004, including 113 grantees of PCF for the report.

-- PCF provides its grantees with much more non-monetary assistance than
is typical, including management, field-related and operational assistance. improve their operations and build stronger
communities through:

Internet Access - Networked, high-speed access to the Internet
and email

Online Outreach - Interactive, Web-based applications that
support activities such as service delivery, volunteer
recruiting and e-fundraising

Data Networking - Network connectivity enabling easy sharing
of database applications and information systems

Staff Development - Technology training programs for nonprofit
staff members

For example, in Chicago, Illinois a $15,000 SBC Excelerator grant
to Junior Achievement supported 30 technology-based programs, allowing
the organization's economic education programs to reach 750 new
students in Chicago schools.
SBC Communications Inc.

values coexistence

The CVS Charitable Trust, Inc. The purpose
of the survey is to solicit anonymous feedback from a foundation's
nonprofit partners and to provide comparative data with other foundations. "While our donors provide us with
invaluable feedback on how we can improve our services , nonprofits may
hesitate to give us constructive criticism given their reliance on our
funding ."

Key findings of the report include:

-- PCF is highly rated in both its impact on the community and its fields
of funding, which is not typical of regionally focused funders.' What this tells us is that while PCF
awards larger grants than the median foundation, we require much more time
from our grantees during the reporting and evaluation processes.
SBC Excelerator is a major philanthropic initiative that connects
the nation's neediest residents - including at-risk youth and
underserved urban families - to important community resources, such as
Internet access , computer training, math and reading classes, and job
skills programs. "SBC Excelerator grants work to connect people to each
other and help develop educational and economic opportunities.

sasakawa areas

About Peninsula Community Foundation

For 40 years, Peninsula Community Foundation has worked with nonprofits ,
donors, and government agencies to change the world -- one community at a
time. With assets of over $609 million, including a $113 million Community
Endowment, PCF is an innovative leader in meeting the needs of the
community in the areas of children and families, education, health and
human services, the environment, the arts, and strengthening nonprofits. Additional information about SBC and
SBC products and services is available at www.

pluralistic describes

html.

-- The foundation provides grantees with more assistance securing funding
from other sources - which is a very valuable service for grantees.

2005 Peninsula Community Foundation. Grant funds may be
used for data communications services, hardware, software, technology
training, personnel, and application development. Collaborations by
two or more organizations will be considered for grants up to $50,000
for one year.

sasakawa coexistence

CVS/pharmacy Charitable Trust Awards $5 000 Dollars to Non-Profit Organization in Missouri

is a private foundation managed by CVS
Corporation, which operates more than 5,000 CVS/pharmacy stores in 36 states.

"The results are a tremendous affirmation of the hard work and dedication
of our staff, and of our commitment to serve the community we live in,"
Speirn noted. Results were compared to other
foundations whose grantees were also surveyed.

focus sasakawa

"

On behalf of PCF, the Center surveyed 113 grantees that received funding in
2003 from the foundation's Community Endowment or from the Center for
Venture Philanthropy, a division of PCF.
PCF divisions include the Center for Venture Philanthropy , the
Peninsula Partnership for Children, Youth and Families, and the
Peninsula Nonprofit Center .

SBC Foundation Launches 2005 SBC Excelerator Grant Program

coexistence prize

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- - kjjkjk

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