Exhibit 99.1

IMS Health Reports Strong Momentum in Second-Quarter 2005,
With Double-Digit Revenue and Earnings-Per-Share Growth

     FAIRFIELD, Conn.—(BUSINESS WIRE)—July 20, 2005—IMS Health (NYSE: RX) today announced second-quarter 2005 revenues of $433.3 million, up 14 percent (12 percent constant dollar), compared with revenues of $379.6 million for the second quarter of 2004. Second-quarter diluted earnings per share on an SEC-reported basis was $0.41, up 52 percent, compared with $0.27 in the 2004 second quarter. Second-quarter adjusted diluted earnings per share was $0.34, compared with $0.29 per share in the same period of 2004, an increase of 17 percent. Net income on an SEC-reported basis was $93.2 million, up 43 percent compared with net income of $65.1 million in the year-earlier quarter. On an adjusted basis, net income for the second quarter of 2005 was $77.8 million, up 12 percent, compared with net income of $69.5 million in the prior year.

     “Our second-quarter results were strong around the world, led by the U.S. and Europe. In fact, our teams delivered double-digit reported revenue gains in all regions-the Americas, Europe and Asia Pacific,” said David R. Carlucci, IMS chief executive officer and president. “IMS’s outstanding performance demonstrates our continued success in delivering essential market intelligence to help clients with their most critical business decisions. Our momentum is strong, and we remain confident that we will achieve our financial objectives for the year.”

     Operating income in the second quarter was $103.3 million on an SEC-reported basis and $110.7 million on an adjusted basis, compared with operating income of $102.5 million on both an SEC-reported and adjusted basis in the year-earlier period. Adjusted operating income excludes a charge of $7.4 million for costs associated with the proposed merger of IMS and VNU, N.V. Operating income rose 1 percent on an SEC-reported basis and 8 percent on an adjusted basis (7 percent constant dollar).

     Adjusted results for the second quarter of 2005 exclude the merger-related costs mentioned above, certain net pre-tax income items totaling $5.1 million, and certain net tax benefits of $17.6 million, including a $24.3 million tax benefit related to a technical correction Congress passed in the American Jobs Creation Act of 2004 (AJCA).

     Adjusted results for the 2004 second quarter exclude certain net pre-tax expense items totaling approximately $0.4 million, as well as certain net tax provisions of approximately $4.0 million. See Tables 5 and 7 for a reconciliation between SEC and adjusted results for the quarters ended June 30, 2005 and 2004, respectively.

     On July 11, 2005, IMS announced a definitive agreement to merge with VNU, a global information and media company with leading market positions and recognized brands in marketing information (ACNielsen), media measurement and information (Nielsen Media Research) and business information (publications and trade shows). The merger, which is expected to be completed in the first quarter of 2006, is subject to the approval of shareholders of IMS and VNU, regulatory approvals and other customary conditions.

     First-Half 2005 Results

     For the first half of 2005, revenues were $844.3 million, up 14 percent (11 percent constant dollar) over the first six months of 2004. SEC-reported diluted earnings per share for the 2005 first half was $0.54, compared with $0.61 in the year-earlier period, down 11 percent. Adjusted diluted earnings per share in the 2005 first half was $0.63, a 17 percent increase over the $0.54 reported in the prior-year period. On an SEC-reported basis, net income for the first

Page 1

six months of this year was $123.5 million, compared with $146.2 million for the year-ago period, a 16 percent decrease. On an adjusted basis, net income for the 2005 first half was $145.9 million, up 11 percent, compared with adjusted net income of $131.0 million in the first half of 2004.

     For the first six months of 2005, operating income was $200.2 million on an SEC-reported basis and $207.6 million on an adjusted basis, compared with $198.7 million on both an SEC-reported and adjusted basis in the year-earlier period. Operating income in the 2005 first half rose 1 percent on an SEC-reported basis and was up 4 percent on an adjusted basis (3 percent constant dollar) from the same period last year.

     Adjusted results for the 2005 first half exclude the merger-related costs mentioned above and certain net pre-tax income items totaling approximately $14.5 million, as well as certain net tax provisions of approximately $29.5 million, primarily related to the tax recorded in the first half of 2005 on cash IMS intends to repatriate under the AJCA. Adjusted results for the first half of 2004 exclude certain net pre-tax income items of approximately $11.3 million and certain net tax benefits of approximately $3.9 million. See Tables 6 and 8 for a reconciliation between SEC and adjusted results for the six months ended June 30, 2005 and 2004, respectively.

     Balance Sheet Highlights

     IMS’s cash, cash equivalents and short-term marketable securities as of June 30, 2005 was $399.8 million, compared with $460.0 million on December 31, 2004. Total debt as of June 30, 2005 was $710.4 million, up from $626.7 million at the end of 2004. See Table 9 for selected consolidated balance sheet items.

     Share Repurchase Program, Shares Outstanding

     IMS repurchased approximately 2.3 million shares in the second quarter at a total cost of $55.4 million. Year-to-date, the company has repurchased 6.2 million shares at a total cost of $147.9 million. As a result of the proposed merger with VNU, IMS has suspended its current share buyback program.

     The number of shares outstanding as of June 30, 2005 was approximately 225.8 million, compared with 233.9 million the same period a year ago.

     Repatriation

     On April 19, 2005, IMS announced that it is taking the opportunity provided by the AJCA to repatriate approximately $650 million of previously undistributed foreign earnings. IMS will continue with its previously announced plans to repatriate all of the $650 million during 2005.

     About IMS

     Operating in more than 100 countries, IMS Health is the world’s leading provider of information solutions to the pharmaceutical and healthcare industries. With $1.6 billion in 2004 revenue and more than 50 years of industry experience, IMS offers leading-edge business intelligence products and services that are integral to clients’ day-to-day operations, including portfolio optimization capabilities; launch and brand management solutions; sales force effectiveness innovations; managed care and over-the-counter offerings; and consulting and services solutions that improve ROI and the delivery of quality healthcare worldwide. Additional information is available at http://www.imshealth.com.

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     Conference Call and Webcast Details

     IMS will host a conference call at 8:30 a.m. (EDT) today to discuss its second-quarter 2005 financial results. To participate, please dial 1-800-396-0424 (U.S. and Canada) and 1-415-908-4714 (outside the United States and Canada) approximately 15 minutes before the scheduled start of the call. The conference call also will be accessible live on the Investor Relations section of the IMS Website at www.imshealth.com.

     A replay of the conference call will be available online on the Investor Relations section of the IMS Website and via telephone by dialing 1-800-633-8284 (U.S. and Canada) or 1-402-977-9140 (outside the U.S. and Canada), and entering access code 21251512.

     Forward-Looking Statements

     This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Although IMS Health believes the expectations contained in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct. This information may involve risks and uncertainties that could cause actual results of IMS Health to differ materially from the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to (i) the risks associated with operating on a global basis, including fluctuations in the value of foreign currencies relative to the U.S. dollar, and the ability to successfully hedge such risks, (ii) to the extent IMS Health seeks growth through acquisitions and joint ventures, the ability to identify, consummate and integrate acquisitions and joint ventures on satisfactory terms, (iii) the ability to develop new or advanced technologies and systems for its businesses on time and on a cost-effective basis, (iv) regulatory, legislative and enforcement initiatives, particularly in the areas of medical privacy and tax, (v) to the extent unforeseen cash needs arise, the ability to obtain financing on favorable terms, (vi) deterioration in economic conditions, particularly in the pharmaceutical, healthcare or other industries in which IMS Health’s customers operate, and (vii) the inability, for any reason, to consummate the merger with VNU, N.V., as expected. Additional information on factors that may affect the business and financial results of the Company can be found in filings of the Company made from time to time with the Securities and Exchange Commission.

Table 1
IMS Health
SEC Income Statement (a)
Three Months Ended June 30
(unaudited, in millions except per share)

	2005		2004		% Fav
	SEC		SEC		(Unfav)
Revenue (b)
Sales Force Effectiveness	$	207.5	$	190.0		9	%
Portfolio Optimization		122.3		111.0		10
Launch, Brand and Other		103.5		78.6		32
Total		433.3		379.6		14
Operating Expenses (c)

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	2005			2004			% Fav
	SEC			SEC			(Unfav)
Operating Costs		(189.5	)		(163.2	)		(16	)
Selling and Administrative		(107.4	)		(91.6	)		(17	)
Depreciation and Amortization		(25.6	)		(22.3	)		(15	)
Merger Costs (f)		(7.4	)		0.0		NM
Total		(330.0	)		(277.1	)		(19	)
Operating Income		103.3			102.5			1
Interest Expense, net		(4.6	)		(2.1	)
Gains (Losses) from Investments, net (e)		(0.3	)		2.1
Losses on Issuance of Investees’ Stock, net		0.0			(0.1	)
Other Income (Expense), net (g)		8.6			(1.6	)
Pretax Income		107.0			100.8			6
Provision for Income Taxes (h)		(13.9	)		(35.4	)
TriZetto Equity Loss, net (d)		0.0			(0.3	)
Net Income	$	93.2		$	65.1			43
Diluted EPS:
Total Diluted EPS	$	0.41		$	0.27			52	%
Shares Outstanding:
Weighted Average Diluted		229.5			240.3			4	%
End-of-Period Actual		225.8			233.9			3

The accompanying notes are an integral part of these financial tables.

Table 2
IMS Health
SEC Income Statement (a)
Six Months Ended June 30
(unaudited, in millions except per share)

	2005			2004			% Fav
	SEC			SEC			(Unfav)
Revenue (b)
Sales Force Effectiveness	$	407.4		$	369.7			10	%
Portfolio Optimization		247.8			225.8			10
Launch, Brand and Other		189.1			145.7			30
Total		844.3			741.2			14
Operating Expenses (c)
Operating Costs		(372.9	)		(315.9	)		(18	)
Selling and Administrative		(213.5	)		(182.5	)		(17	)
Depreciation and Amortization		(50.3	)		(44.0	)		(14	)
Merger Costs (f)		(7.4	)		0.0		NM
Total		(644.1	)		(542.5	)		(19	)
Operating Income		200.2			198.7			1
Interest Expense, net		(8.4	)		(5.4	)
Gains from Investments, net (e)		2.4			8.5
Losses on Issuance of Investees’ Stock, net		0.0			(0.1	)
Other Income, net (g)		17.9			1.2

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	2005			2004			% Fav
	SEC			SEC			(Unfav)
Pretax Income		212.0			202.9			4
Provision for Income Taxes (h)		(88.5	)		(55.5	)
TriZetto Equity Loss, net (d)		0.0			(1.3	)
Net Income	$	123.5		$	146.2			(16	)
Diluted EPS:
Total Diluted EPS	$	0.54		$	0.61			(11	)%
Shares Outstanding:
Weighted Average Diluted		230.5			240.3			4	%
End-of-Period Actual		225.8			233.9			3

The accompanying notes are an integral part of these financial tables.

Table 3
IMS Health
Adjusted Income Statement (a)
Three Months Ended June 30
(unaudited, in millions except per share)

										Constant
	2005			2004			% Fav			$ Growth
	Adjusted			Adjusted			(Unfav)			(j)
Revenue (b)
Sales Force Effectiveness	$	207.5		$	190.0			9	%		7	%
Portfolio Optimization		122.3			111.0			10			8
Launch, Brand and Other		103.5			78.6			32			29
Total		433.3			379.6			14			12
Operating Expenses (c)
Operating Costs		(189.5	)		(163.2	)		(16	)
Selling and Administrative		(107.4	)		(91.6	)		(17	)
Depreciation and Amortization		(25.6	)		(22.3	)		(15	)
Total		(322.6	)		(277.1	)		(16	)
Operating Income		110.7			102.5			8			7
Interest Expense, net		(4.6	)		(2.1	)		(124	)
Other Income, net		3.2			0.8		NM
Pretax Income		109.3			101.2			8
Provision for Income Taxes		(31.5	)		(31.4	)		0
TriZetto Equity Loss, net (d)		0.0			(0.3	)	NM
Net Income	$	77.8		$	69.5			12	%
Diluted EPS:
Total Diluted EPS	$	0.34		$	0.29			17	%
Shares Outstanding:
Weighted Average Diluted		229.5			240.3			5	%
End-of-Period Actual		225.8			233.9			3

The accompanying notes are an integral part of these financial tables.

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Table 4
IMS Health
Adjusted Income Statement (a)
Six Months Ended June 30
(unaudited, in millions except per share)

										Constant
	2005			2004			% Fav			$ Growth
	Adjusted			Adjusted			(Unfav)			(j)
Revenue (b)
Sales Force Effectiveness	$	407.4		$	369.7			10	%		8	%
Portfolio Optimization		247.8			225.8			10			7
Launch, Brand and Other		189.1			145.7			30			27
Total		844.3			741.2			14			11
Operating Expenses (c)
Operating Costs		(372.9	)		(315.9	)		(18	)
Selling and Administrative		(213.5	)		(182.5	)		(17	)
Depreciation and Amortization		(50.3	)		(44.0	)		(14	)
Total		(636.7	)		(542.5	)		(17	)
Operating Income		207.6			198.7			4			3
Interest Expense, net		(8.4	)		(5.4	)		(57	)
Gain from Investments, net (e)		3.0			0.0		NM
Other Income (Expense), net		2.8			(1.7	)	NM
Pretax Income		205.0			191.6			7
Provision for Income Taxes		(59.1	)		(59.4	)		1
TriZetto Equity Loss, net (d)		0.0			(1.3	)	NM
Net Income	$	145.9		$	131.0			11	%
Diluted EPS:
Total Diluted EPS	$	0.63		$	0.54			17	%
Shares Outstanding:
Weighted Average Diluted		230.5			240.3			4	%
End-of-Period Actual		225.8			233.9			3

The accompanying notes are an integral part of these financial tables.

Table 5
IMS Health
Reconciliation from SEC to Adjusted Income Statement (a)
Three Months Ended June 30, 2005
(unaudited, in millions except per share)

					Adjusted
	SEC Q2		Adjustments		Q2
Revenue (b)
Sales Force Effectiveness	$	207.5	$	0.0	$	207.5

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							Adjusted
	SEC Q2			Adjustments			Q2
Portfolio Optimization		122.3			0.0			122.3
Launch, Brand and Other		103.5			0.0			103.5
Total		433.3			0.0			433.3
Operating Expenses (c)
Operating Costs		(189.5	)		0.0			(189.5	)
Selling and Administrative		(107.4	)		0.0			(107.4	)
Depreciation and Amortization		(25.6	)		0.0			(25.6	)
Merger Costs (f)		(7.4	)		7.4			0.0
Total		(330.0	)		7.4			(322.6	)
Operating Income		103.3			7.4			110.7
Interest Expense, net		(4.6	)		0.0			(4.6	)
Losses from Investments, net (e)		(0.3	)		0.3			0.0
Other Income, net (g)		8.6			(5.4	)		3.2
Pretax Income		107.0			2.3			109.3
Provision for Income Taxes (h)		(13.9	)		(17.6	)		(31.5	)
Net Income	$	93.2		$	(15.4	)	$	77.8
Diluted EPS:
Total Diluted EPS	$	0.41		$	(0.07	)	$	0.34
Shares Outstanding:
Weighted Average Diluted		229.5			0.0			229.5
End-of-Period Actual		225.8			0.0			225.8

The accompanying notes are an integral part of these financial tables.

Table 6
IMS Health
Reconciliation from SEC to Adjusted Income Statement (a)
Six Months Ended June 30, 2005
(unaudited, in millions except per share)

						Adjusted
	SEC Q2			Adjustments		Q2
Revenue (b)
Sales Force Effectiveness	$	407.4		$	0.0	$	407.4
Portfolio Optimization		247.8			0.0		247.8
Launch, Brand and Other		189.1			0.0		189.1
Total		844.3			0.0		844.3
Operating Expenses (c)
Operating Costs		(372.9	)		0.0		(372.9	)
Selling and Administrative		(213.5	)		0.0		(213.5	)
Depreciation and Amortization		(50.3	)		0.0		(50.3	)
Merger Costs (f)		(7.4	)		7.4		0.0
Total		(644.1	)		7.4		(636.7	)
Operating Income		200.2			7.4		207.6

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							Adjusted
	SEC Q2			Adjustments			Q2
Interest Expense, net		(8.4	)		0.0			(8.4	)
Gains from Investments, net (e)		2.4			0.7			3.0
Other Income, net (g)		17.9			(15.1	)		2.8
Pretax Income		212.0			(7.1	)		205.0
Provision for Income Taxes (h)		(88.5	)		29.5			(59.1	)
Net Income	$	123.5		$	22.4		$	145.9
Diluted EPS:
Total Diluted EPS	$	0.54		$	0.09		$	0.63
Shares Outstanding:
Weighted Average Diluted		230.5			0.0			230.5
End-of-Period Actual		225.8			0.0			225.8

The accompanying notes are an integral part of these financial tables.

Table 7
IMS Health
Reconciliation from SEC to Adjusted Income Statement (a)
Three Months Ended June 30, 2004
(unaudited, in millions except per share)

							Adjusted
	SEC Q2			Adjustments			Q2
Revenue (b)
Sales Force Effectiveness	$	190.0		$	0.0		$	190.0
Portfolio Optimization		111.0			0.0			111.0
Launch, Brand and Other		78.6			0.0			78.6
Total		379.6			0.0			379.6
Operating Expenses (c)
Operating Costs		(163.2	)		0.0			(163.2	)
Selling and Administrative		(91.6	)		0.0			(91.6	)
Depreciation and Amortization		(22.3	)		0.0			(22.3	)
Total		(277.1	)		0.0			(277.1	)
Operating Income		102.5			0.0			102.5
Interest Expense, net		(2.1	)		0.0			(2.1	)
Gains from Investments, net (e)		2.1			(2.1	)		0.0
Losses on Issuance of Investees’ Stock, net		(0.1	)		0.1			0.0
Other Income (Expense), net (g)		(1.6	)		2.4			0.8
Pretax Income		100.8			0.4			101.2
Provision for Income Taxes (h)		(35.4	)		4.0			(31.4	)
TriZetto Equity Loss, net (d)		(0.3	)		0.0			(0.3	)
Net Income	$	65.1		$	4.4		$	69.5
Diluted EPS:
Total Diluted EPS	$	0.27		$	0.02		$	0.29

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					Adjusted
	SEC Q2		Adjustments		Q2
Shares Outstanding:
Weighted Average Diluted		240.3		0.0		240.3
End-of-Period Actual		233.9		0.0		233.9

The accompanying notes are an integral part of these financial tables.

Table 8
IMS Health
Reconciliation from SEC to Adjusted Income Statement (a)
Six Months Ended June 30, 2004
(unaudited, in millions except per share)

							Adjusted
	SEC Q2			Adjustments			Q2
Revenue (b)
Sales Force Effectiveness	$	369.7		$	0.0		$	369.7
Portfolio Optimization		225.8			0.0			225.8
Launch, Brand and Other		145.7			0.0			145.7
Total		741.2			0.0			741.2
Operating Expenses (c)
Operating Costs		(315.9	)		0.0			(315.9	)
Selling and Administrative		(182.5	)		0.0			(182.5	)
Depreciation and Amortization		(44.0	)		0.0			(44.0	)
Total		(542.5	)		0.0			(542.5	)
Operating Income		198.7			0.0			198.7
Interest Expense, net		(5.4	)		0.0			(5.4	)
Gains from Investments, net (e)		8.5			(8.5	)		0.0
Losses on Issuance of Investees’ Stock, net		(0.1	)		0.1			0.0
Other Income (Expense), net (g)		1.2			(2.9	)		(1.7	)
Pretax Income		202.9			(11.3	)		191.6
Provision for Income Taxes (h)		(55.5	)		(3.9	)		(59.4	)
TriZetto Equity Loss, net (d)		(1.3	)		0.0			(1.3	)
Net Income	$	146.2		$	(15.2	)	$	131.0
Diluted EPS:
Total Diluted EPS	$	0.61		$	(0.07	)	$	0.54
Shares Outstanding:
Weighted Average Diluted		240.3			0.0			240.3
End-of-Period Actual		233.9			0.0			233.9

The accompanying notes are an integral part of these financial tables.

Page 9

Table 9
IMS Health
Selected Consolidated Balance Sheet Items
(unaudited, in millions)

	June 30, 2005		Dec. 31, 2004
Cash and cash equivalents	$	399.8	$	444.9
Short-term marketable securities		0.0		15.1
Accounts receivable, net (i)		296.6		264.8
Total debt		710.4		626.7

The accompanying notes are an integral part of these financial tables.

IMS Health
NOTES TO FINANCIAL TABLES

(a)	“SEC Income Statement” (Tables 1 and 2) differs from the “Adjusted Income Statement” (Tables 3 and 4) by amounts that are detailed on Tables 5, 6, 7 and 8. Adjusted results are those used by management for the purposes of global business decision-making, including developing budgets and managing expenditures. Adjusted results exclude certain U.S. GAAP measures to the extent that management believes exclusion will facilitate comparisons across periods and more clearly indicate trends. Although IMS discloses adjusted results in order to give a full picture to investors of its business as seen by management, these adjusted results are not prepared specifically for investors and are not a replacement for the more comprehensive information for investors included in IMS’s U.S. GAAP results. The method IMS uses to prepare adjusted results differs in significant respects from U.S. GAAP and is likely to differ from the methods used by other companies. Investors interested in management’s adjusted results are urged to review the detailed reconciliations of the adjusted measures to comparable U.S. GAAP results.
(b)	Revenue in 2004 has been reclassified to conform to the 2005 presentation, including a reclassification of Consulting and Services revenue into the other three business lines. Consulting and Services revenue was $62.4 million in second-quarter 2005, up 35% (33% constant dollar) from $46.2 million in second-quarter 2004. Consulting and Services revenue was $117.1 million in first-half 2005, up 47% (44% constant dollar) from $79.6 million in first-half 2004.
(c)	Operating expenses in 2004 reflect a reclassification between operating costs and selling and administrative expenses to make them comparable with the 2005 presentation.
(d)	In the fourth quarter of 2004, IMS sold its entire interest in TriZetto back to the company.
(e)	Losses from investments, net were $0.3 million in the second quarter of 2005, relating primarily to management fees for the Enterprise investments. This is compared with a net gain of $2.1 million in the second quarter of 2004 primarily from the sale of certain Enterprise investments, partially offset by $0.4 million of management fees for the Enterprise investments. For the first six months of 2005, Gains from investments, net were $2.4 million relating primarily to a $3.0 million gain from the sale of a 20% interest we held in a German company (GPI), partially offset by $0.6 million of

Page 10

	management fees for the Enterprise investments. This is compared with a net gain of $8.5 million in the first six months of 2004 from the sale of certain Enterprise investments. These gains and losses from Enterprise investments are excluded from adjusted results because they relate to non-strategic investments and are not related to IMS’s core business operations.
(f)	Merger costs relate to professional fees incurred during the second quarter of 2005 in connection with IMS’s proposed merger with VNU, N.V., as announced on July 11, 2005. These costs, and the associated tax benefits, are excluded from adjusted results because they were incurred specifically in relation to the proposed merger of IMS with VNU, N.V. and are not related to IMS’s core business operations.
(g)	Other income (expense), net includes $0.0 million and $1.2 million of expenses for legal fees in the second quarter of 2005 and 2004, respectively, related to the IRI litigation. For the first six months, IRI litigation legal fees were $1.2 million and $1.6 million in 2005 and 2004, respectively. These expenses are excluded from adjusted results because they relate to a D&B legacy matter and are not related to IMS’s core business operations. In addition, Other income (expense), net excludes a quarterly phasing adjustment of foreign currency hedge gains (losses), net of $(5.4) million and $(16.3) million in the second quarter and first six months of 2005, respectively, compared with $1.2 million and $(4.4) million in the second quarter and first six months of 2004, respectively. This phasing adjustment is made to adjusted results in order to more closely match the timing of foreign exchange hedge gains (losses) with the operating income being hedged. For the full year, there is no difference between the hedge gains in adjusted and SEC results.
(h)	The tax provision for the second quarter and first six months of 2005 includes a tax benefit of $1.2 million and a tax provision of $2.0 million, respectively, related to the Enterprise investments described in note (e) and the items described in notes (f) and (g). The tax provision for the second quarter and first six months of 2004 includes a tax benefit of $0.2 million and a tax provision of $4.0 million, respectively, related to the items described in notes (e) and (g). These tax provisions are excluded from adjusted results because the related charges and gains are excluded from adjusted results. The tax provision in the first six months of 2005 also included a $29.3 million tax benefit related to a favorable audit resolution in Japan of the tax years through 2003. Adjusted results include a phasing adjustment to recognize this benefit ratably throughout the year; the phasing adjustment for the second quarter and first six months of 2005 was $(7.8) million and $15.3 million, respectively. This phasing adjustment allows the full year effective tax rate to be applied in each quarter to adjusted pretax results. Also in the first six months of 2005, $42.8 million of tax expense was recorded related to the decision to repatriate approximately $650 million of foreign earnings back to the U.S. during 2005 under the American Jobs Creation Act of 2004 (AJCA), including a tax benefit of $24.3 million recorded in the second quarter as a result of Congress passing a technical correction to the AJCA. As the AJCA is a one-time event, this tax expense has been excluded from adjusted results. In addition, the first quarter 2004 tax provision also includes a

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	$15.6 million tax benefit related to a favorable audit resolution in the U.S. of the 1998 and 1999 tax years. The phasing adjustment for the second quarter of 2004 was $(4.2) million and $7.9 million for the first six months of 2004.
(i)	December 31, 2004 Accounts receivable, net has been reclassified to conform to current period presentation.
(j)	Constant-dollar growth rates eliminate the impact of year-over-year foreign currency fluctuations.

     Amounts presented in the financial tables may not add due to rounding.

     These financial tables should be read in conjunction with IMS Health’s filings previously made or to be made with the Securities and Exchange Commission.

CONTACT:	IMS Health
	Corporate Communications:
	Bill Hughes, 203-319-4732
	bhughes@imshealth.com
	or
	Investor Relations:
	Darcie Peck, 203-319-4766
	dpeck@imshealth.com

Page 12

About IMS Health Incorporated

IMS Health Incorporated (“IMS”) provides sales management and market research information services to the pharmaceutical and healthcare industries worldwide. IMS provides information services covering more than 100 countries and maintains offices in 76 countries on six continents, with approximately 64% of total 2004 IMS revenue generated outside the United States. IMS is listed on the New York Stock Exchange (NYSE: RX). Additional information is available at http://www.imshealth.com.

About VNU N.V.

VNU N.V. (“VNU”) is a global information and media company with leading market positions and recognized brands. VNU is active in more than 100 countries, with its headquarters located in Haarlem, The Netherlands and New York, USA. In 2004, total revenues amounted to EUR 3.8 billion. VNU is listed on the Euronext Amsterdam stock exchange (ASE: VNU), and VNU is part of the AEX Index of leading Netherlands-based stocks. Additional information is available at http://www.vnu.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

     This document contains certain forward-looking information about IMS Health Incorporated (“IMS”), VNU N.V. (“VNU”) and the combined company after completion of the transactions that are intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Words such as “expect(s)”, “feel(s)”, “believe(s)”, “will”, “may”, “anticipate(s)” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, financial projections and estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to future operations, products and services; and statements regarding future performance. Such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of IMS and VNU, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to: the failure of stockholders to approve the transaction; the risk that the businesses will not be integrated successfully or that doing so will be costly or result in significant charges; the risk that the cost savings and any other synergies from the transaction may not be fully realized or may take longer to realize than expected; the results of the reconciliation of IMS’ financial statements into IFRS and the results of the reconciliation of VNU’s results into U.S. GAAP; disruption from the transaction making it more difficult to maintain relationships with customers, employees or suppliers; competition and its effect on pricing, spending, third-party relationships and revenues; the ability to obtain governmental approvals of the transaction on the proposed terms and schedule; the risk that VNU is not able to maintain its status as a foreign private issuer; risks associated with operating on a global basis, including fluctuations in the value of foreign currencies relative to the U.S. dollar, and the ability to successfully hedge such risks; to the extent the companies seek growth through acquisition, the ability of the companies to complete development of or to develop new or advanced technologies and systems for their businesses on a cost-effective basis; the ability to successfully achieve estimated effective tax rates and corporate overhead levels; competition, particularly in the markets for pharmaceutical information and audience measurement services; regulatory and legislative initiatives, particularly in the area of privacy; the outcome of pending legal and regulatory proceedings; leverage and debt service (including sensitivity to fluctuations in interest rates); compliance with covenants in loan agreements; the ability to obtain future financing on satisfactory terms; deterioration in economic conditions, particularly in the pharmaceutical, healthcare, media, information technology or other industries in which customers operate; and conditions in the securities markets which may affect the value or liquidity of portfolio investments. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof. Neither IMS nor VNU undertakes any obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Readers are also urged to carefully review and consider the various disclosures in IMS’ various reports with the Securities and Exchange Commission (“SEC”), including but not limited to IMS’ Annual Report

on Form 10-K for the year ended December 31, 2004 and IMS’ Quarterly Reports on Form 10-Q for the quarterly period ending March 31, 2005, and VNU’s Annual Report for the year ended December 31, 2004, which is available at the SEC’s Internet site (http://www.sec.gov).

Additional Information and Where to Find It

     This document may be deemed to be solicitation material in respect of the proposed merger of IMS and VNU. In connection with the proposed transaction, VNU and IMS will file a registration statement on Form F-4, including the preliminary joint proxy statement/prospectus constituting a part thereof, with the SEC. VNU and IMS will file a definitive registration statement, including a definitive joint proxy statement/prospectus constituting a part thereof, and other documents with the SEC. SHAREHOLDERS OF IMS AND VNU ARE ENCOURAGED TO READ THE DEFINITIVE REGISTRATION STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC, INCLUDING THE DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS THAT WILL BE PART OF THE DEFINITIVE REGISTRATION STATEMENT, AS THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER. The final joint proxy statement/prospectus will be mailed to stockholders of IMS and VNU. Investors and security holders will be able to obtain the documents free of charge at the SEC’s web site, www.sec.gov, from IMS’ Investor Relations at 1499 Post Road, Fairfield, CT, 06824 or from VNU’s Investor Relations at Ceylonpoort 5-25, 2037 AA Haarlem, The Netherlands.

Participants in Solicitation

     IMS, VNU and their directors and executive officers and other members of their management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information regarding IMS’ participants is set forth in the proxy statement, dated March 23, 2005, for IMS’ 2005 annual meeting of stockholders as filed with the SEC on Schedule 14A. Information regarding VNU’s participants is set forth in VNU’s Annual Report for the year ended December 31, 2004. Additional information regarding the interests of IMS’ and VNU’s participants in the solicitation of proxies in respect of the proposed transaction is included in the registration statement and joint proxy statement/prospectus filed with the SEC.

Regulation G Legend

     This presentation may contain certain non-GAAP financial measures. Reconciliations between certain non-GAAP financial measures and the GAAP financial measures will be made available in the joint proxy statement/prospectus. VNU figures have been prepared in accordance with Dutch GAAP and IFRS. IMS figures are prepared in accordance with U.S. GAAP. All pro forma consolidated financial information has been prepared by aggregating financial information based on these differing accounting standards and might be materially different if IMS figures were presented in accordance with Dutch GAAP or IFRS or if VNU figures were presented in accordance with U.S. GAAP. The definitive registration statement, including the definitive joint proxy statement/prospectus, may include adjustments to the financial statements of VNU to reflect differences between U.S. and Dutch GAAP and between the U.S. and Dutch approaches to financial statement presentation.