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AmerisourceBergen Reports Record Earnings Per Share Before Special Charges of $.88 for the September Quarter and $3.29, a 42 Percent Increase, for Fiscal Year 2002

November 5, 2002

Company Moved Quickly To Maximize Benefits Of Year-Ago Merger

    Fiscal Fourth Quarter Highlights
    --  Record diluted earnings per share of $.88 before special
        charges.
    --  Record operating revenue of $10.4 billion, up 14 percent, pro
        forma.
    --  Operating margin of 1.91 percent, up 12 basis points, pro
        forma.
    --  Return On Committed Capital (ROCC) of 25.5 percent.
    Fiscal 2002 Highlights
    --  Record diluted earnings per share of $3.29 before special
        charges.
    --  Record operating revenue of $40.2 billion, up 16 percent, pro
        forma.
    --  Cost saving synergies captured ahead of schedule.
    --  Consolidated seven distribution centers and two specialty
        operations.
    --  Cash flow from operations of more than $500 million.

"Our success is a reflection of the dedication and hard work of our associates. They made it happen on the firing line. The financial result was a more than 40 percent increase in earnings per share and $40 billion in revenue for the year. Combined with our 25.5 percent ROCC, we exceeded our key financial goals.

"From the beginning, it has not been about being the biggest, but the best. In one year, we have laid a solid foundation, and we have only begun to tap the potential of AmerisourceBergen. With our number one position in the market, a growing array of services and products, and a commitment to maximize our synergy opportunities, we remain dedicated to increasing value for our shareholders, customers, suppliers and associates."

    Discussion of Results

Diluted earnings per share before special charges for the fourth quarter of fiscal 2002 were $0.88, a 38 percent increase over the prior year's fourth quarter. Income before special charges for the fourth quarter of fiscal 2002 increased to $97.3 million from $47.2 million in the same period last year. Special charges, consisting of merger integration costs, were $2.3 million, net of tax, in the quarter. Net income and diluted earnings per share for the quarter were $95.0 million and $0.86, respectively.

AmerisourceBergen's operating revenue, which excludes bulk deliveries to customer warehouses, was $10.4 billion in the fourth quarter of fiscal 2002 compared to $5.5 billion for the same period last year. Fiscal 2002 fourth quarter operating revenue increased 14 percent over fiscal 2001 fourth quarter pro forma operating revenue of $9.1 billion.

For the 2002 fiscal year, diluted earnings per share before special charges were $3.29, a 42 percent increase over the prior year. Income before special charges for the year increased to $359.6 million from $137.0 million last year. Special charges, consisting of merger integration costs, were $14.6 million, net of tax, in fiscal year 2002. Operating revenue for the fiscal year ended September 30, 2002 was $40.2 billion compared to $15.8 billion in the prior year, and represents a 16 percent increase over pro forma operating revenue of $34.6 billion in fiscal year 2001. Net income and diluted earnings per share for the 2002 fiscal year were $344.9 million and $3.16, respectively.

The following discussion of results, including segment data, does not include the impact of special charges.

"In the fiscal 2002 fourth quarter, our outstanding performance was driven by our continual focus on customer service, synergy cost savings ahead of internal expectations, and strong working capital management," said Kurt J. Hilzinger, AmerisourceBergen President and Chief Operating Officer. "The result was a double digit expansion in operating margin, record earnings per share and a ROCC of 25.5 percent.

"In pharmaceutical distribution we consolidated four distribution centers in the September quarter bringing the total number of consolidations in the fiscal year to seven, in line with the schedule we set at the beginning of the fiscal year. Our new generic pharmaceutical program, PROGenerics(TM), also contributed to the quarter's strong performance.

"With the integration of the key functional areas now nearly complete, in fiscal 2003 we will continue to work toward building our new distribution network and introducing new offerings to our customers in the pharmaceutical supply channel. We expect to consolidate six larger distribution centers in the coming fiscal year as well as begin building a number of new facilities and expanding others. Retail and institutional customers will see new programs to solve challenges such as staffing shortages, cost constraints and dispensing accuracy.

"In our PharMerica segment, strong revenue growth in the fiscal 2002 fourth quarter of 14 percent, pro forma, reflects continued solid performance by PharMerica's workers' compensation business, as well as improved growth in the long-term care business," said Hilzinger. "The favorable impact of a single information technology platform, continued receivable and operating discipline, and the positive impact of the new generic pharmaceutical program, drove PharMerica's performance in the quarter."

    Segment Review

    Pharmaceutical Distribution Segment

Pharmaceutical Distribution customer mix in the fourth quarter of fiscal 2002 was 54 percent institutional and 46 percent retail, and for fiscal year 2002 the mix was 53 percent institutional and 47 percent retail. Both customer groups had double-digit growth in the quarter and year.

Operating income was $174.6 million in the fourth quarter of fiscal 2002, up from $94.8 million for the same quarter last year, and improved 22 percent compared to pro forma operating income of $143.2 million in the same period last year. For the fiscal 2002 fourth quarter, operating income as a percentage of operating revenue was 1.72 percent, an 11 basis point improvement from the prior year's fourth quarter on a pro forma basis. Lower gross margins, which reflect the Company's customer mix and the competitive environment, were more than offset by lower total operating expenses as a percentage of operating revenue.

Total operating expenses as a percentage of operating revenue in the fiscal 2002 fourth quarter were 2.20 percent, a 31 basis point improvement over the same quarter last year on a pro forma basis driven by synergy cost savings, customer mix and operating leverage.

AmerisourceBergen Specialty Group, with annualized revenue of more than $2.5 billion, continued its strong quarterly performance, building significant positions in oncology, blood plasma, injectables and vaccine distribution as well as growing its manufacturing services business.

    PharMerica

Operating income for the fourth quarter of fiscal 2002 was $22.9 million up from $6.5 million for the same quarter last year, and improved 22 percent over the prior year's pro forma fourth quarter operating income of $18.7 million. Operating income as a percentage of operating revenue increased 40 basis points in the quarter ended September 30, 2002 to 5.92 percent from 5.52 percent on a pro forma basis in the prior year.

    Looking Ahead

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    About AmerisourceBergen

    Forward-Looking Statements

The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: the risk that the businesses of AmeriSource and Bergen Brunswig will not be integrated successfully; failure to obtain and retain expected synergies; and other economic, business, competitive and/or regulatory factors affecting the business of AmerisourceBergen generally.

More detailed information about these factors is set forth in AmerisourceBergen's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for fiscal 2001, its Quarterly Reports on Form 10-Q for fiscal 2002, and the joint proxy statement-prospectus for the merger filed on August 1, 2001.

AmerisourceBergen is under no obligation to (and expressly disclaims any such obligation to) update or alter any forward-looking statements whether as a result of new information, future events or otherwise.

                     AMERISOURCEBERGEN CORPORATION
                           FINANCIAL SUMMARY
                 (In thousands, except per share data)
                              (unaudited)
                         Three                Three
                         Months               Months
                         Ended       % of     Ended      % of
                        September  Operating September Operating   %
                        30, 2002   Revenue   30, 2001   Revenue Change
                       -----------  ------- ----------  ------- ------
Revenue:
 Operating revenue     $10,357,502  100.00% $5,516,347  100.00%   88%
 Bulk deliveries to
  customer warehouses    1,243,418             367,884
                       -----------          ----------
Total revenue           11,600,920           5,884,231
Cost of goods sold      11,072,301           5,617,654            97%
                       -----------          ----------
Gross profit               528,619    5.10%    266,577    4.83%   98%
Operating expenses:
 Distribution,
  selling and
  administrative           314,184    3.03%    156,103    2.83%  101%
 Depreciation and
  amortization              16,962    0.16%      9,209    0.17%   84%
 Facility
  consolidations
  and employee
  severance                   --      0.00%     10,912    0.20% -100%
 Merger costs                3,859    0.04%     12,206    0.22%  -68%
 Environmental
  remediation                 --      0.00%     (2,716)  -0.05% -100%
                       -----------          ----------
Operating income           193,614    1.87%     80,863    1.47%  139%
Equity in losses
 of affiliates
 and other                   4,460    0.04%      6,285    0.11%  -29%
Interest expense            31,663    0.31%     17,823    0.32%   78%
                       -----------          ----------
Income before
 taxes                     157,491    1.52%     56,755    1.03%  177%
Income taxes                62,531    0.60%     22,172    0.40%  182%
                       -----------          ----------
Net income                 $94,960    0.92%    $34,583    0.63%  175%
                       ===========          ==========
Earnings per share:
     Basic                   $0.89               $0.49
     Diluted                 $0.86               $0.48
Weighted average
 common shares
 outstanding:
     Basic                 106,225              70,628
     Diluted               113,134              77,613
----------------------------------------------------------------------
Pro forma results excluding merger costs in the three months ended
September 30, 2002 and merger costs and costs related to facility
consolidations and employee severance and environmental remediation
included in the three months ended September 30, 2001:
Operating income          $197,473            $101,265
Net income                 $97,287             $47,230
Earnings per share:
     Basic                   $0.92               $0.67
     Diluted                 $0.88               $0.64
                     AMERISOURCEBERGEN CORPORATION
                           FINANCIAL SUMMARY
                 (In thousands, except per share data)
                              (unaudited)
                       Fiscal                Fiscal
                      Year Ended    % of    Year Ended   % of
                      September   Operating September  Operating   %
                       30, 2002    Revenue   30, 2001   Revenue Change
                      -----------  ------- -----------  ------- ------
Revenue:
 Operating revenue    $40,240,714  100.00% $15,822,635  100.00%  154%
 Bulk deliveries
  to customer
  warehouses            4,994,080              368,718
                      ------------         ------------
Total revenue          45,234,794           16,191,353
Cost of goods sold     43,210,320           15,491,235           179%
                      ------------         ------------
Gross profit            2,024,474    5.03%     700,118    4.42%  189%
Operating expenses:
 Distribution,
  selling and
  administrative        1,220,651    3.03%     397,848    2.51%  207%
 Depreciation and
  amortization             61,151    0.15%      21,589    0.14%  183%
 Facility
  consolidations
  and employee
  severance                     -    0.00%      10,912    0.07% -100%
 Merger costs              24,244    0.06%      13,109    0.08%   85%
 Environmental
  remediation                   -    0.00%      (2,716)  -0.02% -100%
                      ------------         ------------
Operating income          718,428    1.79%     259,376    1.64%  177%
Equity in losses
 of affiliates
 and other                  5,647    0.01%      10,866    0.07%  -48%
Interest expense          140,734    0.35%      47,853    0.30%  194%
                      ------------         ------------
Income before taxes       572,047    1.42%     200,657    1.27%  185%
Income taxes              227,106    0.56%      76,861    0.49%  195%
                      ------------         ------------
Net income               $344,941    0.86%    $123,796    0.78%  179%
                      ============         ============
Earnings per share:
     Basic                  $3.29                $2.16
     Diluted                $3.16                $2.10
Weighted average
 common shares
 outstanding:
     Basic                104,935               57,185
     Diluted              112,228               62,807
----------------------------------------------------------------------
Pro forma results excluding merger costs in the year ended September
30, 2002 and merger costs and costs related to facility conted financial summary and summary segment
information for the three-months and year ended September 30, 2001,
included in this press release, reflect only the results of
AmeriSource Health Corporation, as predecessor to the Company, through
August 29, 2001 and the results of AmerisourceBergen Corporation for
the period from August 29, 2001 through September 30, 2001
(collectively, the "Historical Results"). In order to enhance
comparability, the following schedules as well as the summary segment
information include fiscal 2001 financial data on a pro forma basis.
Within these schedules, pro forma refers to the Historical Results
combined with the results of Bergen Brunswig Corporation through
August 29, 2001. The pro forma information for fiscal 2001 has not
been prepared in accordance with generally accepted accounting
principles and does not represent consolidated results as if the
merger had occurred at the beginning of the periods presented. To
enhance comparability of financial information between fiscal years,
the pro forma information for fiscal 2001 excludes the amortization of
goodwill and special items related to the merger and environmental
remediation and reflects the full allocation of Bergen Brunswig
Corporation's former Corporate segment to the Pharmaceutical
Distribution and PharMerica segments. The pro forma information is not
necessarily indicative of the actual results which might have occurred
had the operations and management of AmeriSource Health Corporation
and Bergen Brunswig Corporation been combined at the beginning of
fiscal 2001.
Appendix - A(2)
AmerisourceBergen
Pro forma combined condensed financial information
(dollars in thousands)
(unaudited)
----------------------------------------------------------------------
                        Fiscal Year Ended September 30, 2001
              --------------------------------------------------------
                First      Second     Third      Fourth     Fiscal
               Quarter     Quarter    Quarter    Quarter    Year (3)
                 (1)         (1)        (1)        (2)
----------------------------------------------------------------------
Operating
 revenue      $8,083,535 $8,467,976  8,995,115 $9,052,684 $34,599,310
              ========================================================
Gross profit    $442,249   $480,035   $475,810   $482,647  $1,880,741
Distribution,
 selling and
 administrative
 (4)             293,608    303,730    295,462    304,703   1,197,503
Depreciation      13,891     14,337     14,296     14,641      57,165
Amortization
 (5)               1,553      1,140      1,270      1,427       5,390
              --------------------------------------------------------
Operating
 income         $133,197   $160,828   $164,782   $161,876    $620,683
              ========================================================
Gross profit
 to operating
 revenue            5.47%      5.67%      5.29%      5.33%       5.44%
Operating
 expenses to
 operating
 revenue            3.82%      3.77%      3.46%      3.54%       3.64%
Operating
 income to
 operating
 revenue            1.65%      1.90%      1.83%      1.79%       1.79%
	   (1) Represents the combination of AmeriSource Health Corporation's
        and Bergen Brunswig Corporation's previously reported
        financial information. (See discussion under Pro Forma
        Information Appendix - A(1)).
	   (2) Represents the combination of AmerisourceBergen Corporation's
        financial information for the quarter ended September 30,
        2001, and Bergen Brunswig Corporation's historical financial
        information for the period from July 1, 2001 to August 29,
        2001. (See discussion under Pro Forma Information Appendix -
        A(1)).
	   (3) Represents the combination of AmerisourceBergen Corporation's
        previously reported financial information for the fiscal year
        ended September 30, 2001, and Bergen Brunswig Corporation's
        historical financial information for the period from October
        1, 2000 to August 29, 2001. (See discussion under Pro Forma
        Information Appendix - A(1)).
	   (4) Excludes special items in the third and fourth quarters
        related to the merger and environmental remediation.
	   (5) Excludes amortization of goodwill.
Appendix - A(3)
AmerisourceBergen - Pharmaceutical Distribution
Pro forma combined condensed financial information
(dollars in thousands)
(unaudited)
----------------------------------------------------------------------
                        Fiscal Year Ended September 30, 2001
              --------------------------------------------------------
                  First     Second     Third     Fourth      Fiscal
                 Quarter    Quarter   Quarter    Quarter     Year (3)
                   (1)        (1)       (1)        (2)
----------------------------------------------------------------------
Operating
 revenue      $7,929,966 $8,335,337 $8,835,163 $8,885,145 $33,985,611
              =======================================================
Gross profit    $322,096   $358,294   $358,619   $365,948  $1,404,957
Distribution,
 selling and
 administrative
 (4), (5)        195,464    202,915    200,042    211,501     809,922
Depreciation       9,426      9,962      9,916     10,278      39,582
Amortization
 (6)               1,116        703        835        972       3,626
              --------------------------------------------------------
Operating
 income         $116,090   $144,714   $147,826   $143,197    $551,827
              ========================================================
Gross profit
 to operating
 revenue            4.06%      4.30%      4.06%      4.12%       4.13%
Operating
 expenses to
 operating
 revenue            2.60%      2.56%      2.39%      2.51%       2.51%
Operating
 income to
 operating
 revenue            1.46%      1.74%      1.67%      1.61%       1.62%
	   (1) Represents the combination of AmeriSource Health Corporation's
        and Bergen Brunswig Corporation's previously reported
        financial information. (See discussion under Pro Forma
        Information Appendix - A(1)).
	   (2) Represents the combination of AmerisourceBergen Corporation's
        financial information for the quarter ended September 30,
        2001, and Bergen Brunswig Corporation's historical financial
        information for the period from July 1, 2001 to August 29,
        2001. (See discussion under Pro Forma Information Appendix -
        A(1)).
	   (3) Represents the combination of AmerisourceBergen Corporation's
        previously reported financial information for the fiscal year
        ended September 30, 2001, and Bergen Brunswig Corporation's
        historical financial information for the period from October
        1, 2000 to August 29, 2001. (See discussion under Pro Forma
        Information Appendix - A(1)).
	   (4) Excludes special items in the third and fourth quarters
        related to the merger and environmental remediation.
	   (5) Expenses previously reported in the Corporate segment for
        Bergen Brunswig Corporation have been fully allocated to the
        Pharmaceutical Distribution and PharMerica segments for
        comparative purposes within this schedule.
	   (6) Excludes amortization of goodwill.
Appendix - A(4)
AmerisourceBergen - PharMerica
Pro forma combined condensed financial information
(dollars in thousands)
(unaudited)
----------------------------------------------------------------------
                          Fiscal Year Ended September 30, 2001
                  ----------------------------------------------------
                    First    Second     Third     Fourth     Fiscal
                   Quarter   Quarter   Quarter    Quarter    Year (3)
                     (1)       (1)       (1)        (2)
----------------------------------------------------------------------
Operating
 revenue           $335,166  $339,924  $336,783  $338,135  $1,350,008
                  ====================================================
Gross profit       $120,153  $121,741  $117,191  $116,699    $475,784
Distribution,
 selling and
 administrative
 (4), (5)            98,144   100,815    95,420    93,202     387,581
Depreciation          4,465     4,375     4,380     4,363      17,583
Amortization (6)        437       437       435       455       1,764
                  ----------------------------------------------------
Operating
 income             $17,107   $16,114   $16,956   $18,679     $68,856
                  ====================================================
Gross profit to
 operating
 revenue              35.85%    35.81%    34.80%    34.51%      35.24%
Operating
 expenses to
 operating
 revenue              30.74%    31.07%    29.76%    28.99%      30.14%
Operating
 income to
 operating
 revenue               5.10%     4.74%     5.03%     5.52%       5.10%
	   (1) Represents the combination of AmeriSource Health Corporation's
        and Bergen Brunswig Corporation's previously reported
        financial information. (See discussion under Pro Forma
        Information Appendix - A(1)).
	   (2) Represents the combination of AmerisourceBergen Corporation's
        financial information for the quarter ended September 30,
        2001, and Bergen Brunswig Corporation's historical financial
        information for the period from July 1, 2001 to August 29,
        2001. (See discussion under Pro Forma Information Appendix -
        A(1)).
	   (3) Represents the combination of AmerisourceBergen Corporation's
        previously reported financial information for the fiscal year
        ended September 30, 2001, and Bergen Brunswig Corporation's
        historical financial information for the period from October
        1, 2000 to August 29, 2001. (See discussion under Pro Forma
        Information Appendix - A(1)).
	   (4) Excludes special items in the third and fourth quarters
        related to the merger and environmental remediation.
	   (5) Expenses previously reported in the Corporate segment for
        Bergen Brunswig Corporation have been fully allocated to the
        Pharmaceutical Distribution and PharMerica segments for
        comparative purposes within this schedule.
	   (6) Excludes amortization of goodwill.
Appendix - A(5)
AmerisourceBergen - Intersegment Eliminations
Pro forma combined condensed financial information
(dollars in thousands)
(unaudited)
----------------------------------------------------------------------
                         Fiscal Year Ended September 30, 2001
               -------------------------------------------------------
                  First     Second      Third     Fourth      Fiscal
                 Quarter    Quarter    Quarter    Quarter     Year (3)
                   (1)        (1)        (1)        (2)
----------------------------------------------------------------------
Operating
 revenue        ($181,597) ($207,285) ($176,831) ($170,596) ($736,309)
               =======================================================
Gross profit           $0         $0         $0         $0         $0
Distribution,
 selling and
 administrative      --         --         --         --         --
Depreciation         --         --         --         --         --
Amortization         --         --         --         --         --
               -------------------------------------------------------
Operating
 income                $0         $0         $0         $0         $0
               =======================================================
	   (1) Represents the combination of AmeriSource Health Corporation's
        and Bergen Brunswig Corporation's previously reported
        financial information. (See discussion under Pro Forma
        Information Appendix - A(1)).
	   (2) Represents the combination of AmerisourceBergen Corporation's
        financial information for the quarter ended September 30,
        2001, and Bergen Brunswig Corporation's historical financial
        information for the period from July 1, 2001 to August 29,
        2001. (See discussion under Pro Forma Information Appendix -
        A(1)).
	   (3) Represents the combination of AmerisourceBergen Corporation's
        previously reported financial information for the fiscal year
        ended September 30, 2001, and Bergen Brunswig Corporation's
        historical financial information for the period from October
        1, 2000 to August 29, 2001. (See discussion under Pro Forma
        Information Appendix - A(1)).
CONTACT:          AmerisourceBergen
                  Michael N. Kilpatric
                  610/727-7118
                  mkilpatric@amerisource.com

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