This document is a presentation from Quest Diagnostics given at the Bear Stearns Healthcare Conference on September 11, 2007. It summarizes Quest Diagnostics' position as an industry leader in diagnostic testing, with a national network of laboratories and patient service centers. It also provides an overview of the company's growth strategy, including its recent AmeriPath acquisition, expansion into near-patient testing, and focus on higher-margin testing services. The presentation concludes with Quest Diagnostics' financial guidance for 2007.

1. Bear Stearns
Healthcare Conference
September 11, 2007

2. Safe Harbor Disclaimer
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The statements in this presentation which are not historical
facts or information are forward-looking statements. These
forward-looking statements involve risks and uncertainties that
could cause the outcome to be materially different. Certain of
these risks and uncertainties are described in the Quest
Diagnostics Incorporated SEC filings, including our latest Form
10-K. Additional risks may arise from unanticipated events.
A copy of this presentation is available on
our website at www.questdiagnostics.com
Patients Growth People

3. Who is Quest Diagnostics?
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»Leader in Providing Healthcare Insights and Solutions
Comprehensive Diagnostic Testing
Routine ——» Esoteric
• Diagnose
• Monitor
• Predict
• Prevent
Advanced Information Technology Solutions
Improve Care and Efficiency
Facilitate Introduction of New Therapeutics
Clinical Trials Testing
Touching the Lives of Patients >150 Million Times in 2006
Patients Growth People

4. Quest Diagnostics: The Leader
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» DiagnosticBTesting
US
Market: ~$45
Source: Washington G-2 Reports and company estimates
Quest Diagnostics data is proforma for AmeriPath acquisition
Patients Growth People

5. A Leader Across All Product Lines
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$ in millions
Based on 2006 Actual Results, proforma for AmeriPath acquisition
Patients Growth People

6. Favorable Industry Trends
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» Essential Healthcare Service
Growing and Aging Population
Innovations in Science & Medicine
Personal Interest in Health
Convergence of Technologies
• Genetic Predisposition
• Diagnostic Testing
• Diagnostic Imaging
• Information Technology
Influences >70% of Healthcare Decisions
Patients Growth People

7. Why Quest Diagnostics?
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» Unique Value Proposition
Superior Patient Experience
Six Sigma Quality
Unparalleled Access and Distribution
Innovative Science & Medicine
Advanced Information Technology
Sustainable Advantage
Patients Growth People

8. Expanding Usage by Patients
of PSC Appointment Scheduling
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Patients Growth People

9. Unparalleled Access and Distribution
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» Serving 50% of US Hospitals & Physicians
31 Regional Laboratories
2 Comprehensive Esoteric Laboratories
150 Rapid Response Laboratories
40 Outpatient AP Facilities in 19 States
~2,100 Patient Service Centers
- serving 45 million patients each year
4,000 Vans and 20 Airplanes
- making 95,000 stops each day
45,000 Dedicated Employees
Touching the Lives of Patients >150 Million Times in 2006
Patients Growth People

10. Patient Service Centers
and Laboratory Network
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PSCs
IOPs
RRLs
∃ Main Labs
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~2,300 Laboratories and Patient Service Centers Serving Half of US Physicians
Patients Growth People

11. Electronic Connectivity:
Care360 Network
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>115,000 Physician Users and Growing by >1,000 Physicians Each Month
Patients Growth People

12. Approach to Driving
Profitable Growth
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» Building a Sustainable Competitive Advantage
Provide Differentiated Service at Competitive Prices
Focus on High Growth Segments
Cancer Diagnostics
Cardiovascular Disease
Infectious Disease
Molecular Diagnostics
Introduce Important & Unique Tests & Services
Expand Geographic Scope
Expand Diagnostic Scope – Near Patient Testing
Increasing Loyalty with Patients, Physicians and Payers
Patients Growth People

13. AmeriPath Acquisition
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» Creates Leader in Cancer Diagnostics
National Scale with Significant Local Presence
• 900 MDs and PhDs
• Over 200 Hospital Contracts in 22 States
• Approximately 40 Outpatient Anatomic Pathology Facilities
in 19 States
Strengthens Leadership in Hospital and Esoteric Testing
Strengthens Relationship with Physicians and Payers
Accelerates Revenue and Earnings Growth
Integration Activities are On Track
Patients Growth People

14. Near Patient Testing
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» An Opportunity to Improve Patient Care and …
Attractive benefits for hospitals and
physician offices
Enables more timely and effective
decisions
Expanding product menu
Combine with central
lab results to create
complete patient
testing record available to
physicians and plans
…to Reduce Medical Costs
Patients Growth People

15. Improving Revenue Mix to Higher
Margin, Differentiated Services
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» Quest Diagnostics 2002 Revenue Quest Diagnostics 2006 Pro Forma Revenue
Other Other
3% 7%
Drugs of Abuse Gene-based and Esoteric Drugs of Abuse Gene-based and Esoteric
4% 16% 3% 17%
Anatomic Pathology Anatomic Pathology
10% 17%
Routine Routine
67% 56%
Total Revenue: $4.1 Billion Total Pro Forma Revenue: ~$7.0 Billion
Patients Growth People

16. 2007 Guidance *
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» A Challenging Environment in 2007
Revenues $6.6 billion to $6.7 billion
Operating Income ~16%
EPS $2.80 – $2.95
Cash from Operations ~$800 million
CapEx $210 - $220 million
Returning to Revenue and Earnings Growth in 2008
*Excludes $0.04 EPS in Q1 charges. Patients Growth People

17. Building on Strength
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» Industry Leader in a Vital and Growing Industry
−Leadership in All Major Segments
Unique Value Proposition
A Proven Track Record of Integrating Acquisitions
Proven Management Team
Strong Cash Generator
A History of Disciplined Growth
Patients Growth People

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Patients Growth People