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Chemed Holds Annual Meeting of Stockholders; Declares Quarterly Dividend; Announces Promotion

CINCINNATI, May 21, 2002--Stockholders of Chemed Corporation (NYSE:CHE) elected a slate of 15 directors at the company's annual stockholders' meeting. Stockholders also ratified the continuation of PricewaterhouseCoopers LLP as the company's independent accountants for 2002 and approved and adopted the company's 2002 long-term incentive plan and 2002 stock incentive plan.

New to the board is Frank E. Wood, 59, president and chief executive officer of Cincinnati-based Secret Communications LLC; cofounder and a principal of The Darwin Group, a Cincinnati-based venture capital firm; and chairman of 8e6 Technologies Corporation, an Orange, California, developer of Internet filtering software.

Dividend Declared

Following the meeting, the Chemed Board of Directors declared a quarterly cash dividend of 11 cents per share on the company's capital stock, payable on June 10, 2002, to stockholders of record on May 30, 2002. This represents the 124th consecutive quarterly dividend paid by Chemed in its 31 years as a public company.

Promotion Announced

Also at its meeting Monday, the Board of Directors elected Thomas J. Reilly, 44, a vice president of the company. Mr. Reilly has served in various financial and accounting positions at Chemed and its subsidiaries since 1979. In his new position, he will continue to report to Chemed President and Chief Executive Officer Kevin J. McNamara. Mr. Reilly was graduated summa cum laude from the University of Cincinnati with a B.B.A. in accounting and finance. He earned his M.B.A. in finance from Xavier University.

Chemed Corporation (www.chemed.com), headquartered in Cincinnati, is a New York Stock Exchange-listed corporation with strategic positions in plumbing and drain cleaning; residential appliance and air-conditioning repair; and home healthcare services.

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CONTACT:
Chemed Corporation
Timothy S. O'Toole, 513/762-6702