Exhibit 99.4
  Express Scripts

Management Briefing

July 21, 2011

George Paz, Chairman & CEO

(c) 2011 Express Scripts, Inc. All Rights Reserved

1




---



##### 



|Another Express Scripts Milestone


Thank You!

Your hard work made this
historic day possible.

(c) 2011 Express Scripts, Inc. All Rights Reserved

2
|------------------------------------------------------------------------------------------------------------------------------------------------------



---



##### 



|An Historic Deal

This is the combination the country needs now
Cost and quality of healthcare are a great concern
National mandate to lower cost of healthcare and
improve care
Accelerates our ability to drive out waste in healthcare

Lower costs - improve the quality of care
Builds upon our legacy of advancing healthcare through
innovation and an unwavering alignment with clients

(c) 2011 Express Scripts, Inc. All Rights Reserved

3
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



---



##### 



|Terms of the Deal

Jeff Hall
Chief Financial Officer

(c) 2011 Express Scripts, Inc. All Rights Reserved

4
|-----------------------------------------------------------------------------------------------------------



---



##### 



|Transaction Overview

Price
$28.80 cash and 0.81 of a share of Express Scripts stock
(fixed exchange ratio); total consideration $29 billion
Total value $71.36 per Medco share based on Express
Scripts' closing stock price on July 20, 2011

Premium
28% to Medco shareholders based on Medco's closing
stock price  on July 20, 2011

(c) 2011 Express Scripts, Inc. All Rights Reserved

5
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



---



##### 



|Transaction Overview

Ownership
Express Scripts shareholders to own approximately
59% and Medco shareholders to own approximately
41% of the combined company

Anticipated closing
First half of 2012, subject to regulatory approvals

(c) 2011 Express Scripts, Inc. All Rights Reserved

6
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



---



##### 



|Significant Financial Benefits

Maintains Express Scripts' strong financial
profile
2013 cash flow $4 billion+ of annual pro forma free
cash flow generation
Capex: disciplined capex deployment
Credit Rating: commitment to maintaining
investment grade credit rating
Earnings Growth: maintain industry-leading growth
rate

(c) 2011 Express Scripts, Inc. All Rights Reserved

7
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



---



##### 



|Until the Transaction Closes (2012)

Both companies operate independently

Do not share competitive or financial info
Except as part of due diligence

Each company responsible for communications
with its clients, patients, suppliers, etc.

(c) 2011 Express Scripts, Inc. All Rights Reserved

8
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



---



##### 



|Client Perspective

Ed Ignaczak
Executive Vice President
Sales & Marketing

(c) 2011 Express Scripts, Inc. All Rights Reserved

9
|---------------------------------------------------------------------------------------------------------------------------------



---



##### 



|Forward-Looking Statements

Cautionary Note Regarding Forward-Looking Statements
This material may include forward-looking statements, both with respect to us and our industry, that reflect our current views with respect to future
events and financial performance. Statements that include the words "expect," "intend," "plan," "believe," "project," "anticipate," "will," "may,"
"would" and similar statements of a future or forward-looking nature may be used to identify forward-looking statements. All forward-looking
statements address matters that involve risks and uncertainties, many of which are beyond our control. Accordingly, there are or will be important
factors that could cause actual results to differ materially from those indicated in such statements and, therefore, you should not place undue
reliance on any such statements.  We believe that these factors include, but are not limited to, the following:

STANDARD OPERATING FACTORS
Our ability to remain profitable in a very competitive marketplace is dependent upon our ability to attract and retain clients while maintaining
our margins, to differentiate our products and services from others in the marketplace, and to develop and cross sell new products and services
to our existing clients;
Our failure to anticipate and appropriately adapt to changes in the rapidly changing health care industry;
Changes in applicable laws or regulations, or their interpretation or enforcement, or the enactment of new laws or regulations, which apply to
our business practices (past, present or future) or require us to spend significant resources in order to comply;
Changes to the healthcare industry designed to manage healthcare costs or alter healthcare financing practices;
Changes relating to our participation in Medicare Part D, the loss of Medicare Part D eligible members, or our failure to otherwise execute on
our strategies related to Medicare Part D;
A failure in the security or stability of our technology infrastructure, or the infrastructure of one or more of our key vendors, or a significant
failure or disruption in service within our operations or the operations of such vendors;
Our failure to effectively execute on strategic transactions, or to integrate or achieve anticipated benefits from any acquired businesses;
The termination, or an unfavorable modification, of our relationship with one or more key pharmacy providers, or significant changes within
the pharmacy provider marketplace;
The termination, or an unfavorable modification, of our relationship with one or more key pharmaceutical manufacturers, or the significant
reduction in payments made or discounts provided by pharmaceutical manufacturers;
Changes in industry pricing benchmarks;
Results in pending and future litigation or other proceedings which would subject us to significant monetary damages or penalties and/or
require us to change our business practices, or the costs incurred in connection with such proceedings;
Our failure to execute on, or other issues arising under, certain key client contracts;
The impact of our debt service obligations on the availability of funds for other business purposes, and the terms and our required compliance
with covenants relating to our indebtedness; our failure to attract and retain talented employees, or to manage succession and retention for
our Chief Executive Officer or other key executives;

(c) 2011 Express Scripts, Inc. All Rights Reserved

10
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



---



##### 



|Forward-Looking Statements (cont.)

TRANSACTION-RELATED FACTORS
Uncertainty as to whether Express Scripts, Inc. (Express Scripts) will be able to consummate the transaction with Medco
Health Solutions, Inc. (Medco) on the terms set forth in the merger agreement;
The ability to obtain governmental approvals of the transaction with Medco;
Uncertainty as to the actual value of total consideration to be paid in the transaction with Medco;
Failure to realize the anticipated benefits of the transaction, including as a result of a delay in completing the
transaction or a delay or difficulty in integrating the businesses of Express Scripts and Medco;
Uncertainty as to the long-term value of Express Scripts Holding Company (formerly known as Aristotle Holding, Inc.)
common shares;
Limitation on the ability of Express Scripts and Express Scripts Holding Company to incur new debt in connection with
the transaction;
The expected amount and timing of cost savings and operating synergies; and
Failure to receive the approval of the stockholders of either Express Scripts or Medco for the transaction.

The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the
other cautionary statements that are included herein and elsewhere, including the risk factors included in Express Scripts'
most recent reports on Form 10-K and Form 10-Q and the risk factors included in Medco's most recent reports on Form 10-K
and Form 10-Q and other documents of Express Scripts, Express Scripts Holding Company and Medco on file with the
Securities and Exchange Commission ("SEC"). Any forward-looking statements made in this material are qualified in their
entirety by these cautionary statements, and there can be no assurance that the actual results or developments anticipated
by us will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, us or
our business or operations. Except to the extent required by applicable law, we undertake no obligation to update publicly or
revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

(c) 2011 Express Scripts, Inc. All Rights Reserved

11
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



---



##### 



|Additional Information and Where to Find It

This communication is not a solicitation of a proxy from any stockholder of Express Scripts, Medco or Express Scripts Holding Company.
In connection with the Agreement and Plan of Merger among Medco, Express Scripts, Express Scripts Holding Company, Plato Merger
Sub Inc. and Aristotle Merger Sub, Inc. (the "Merger"), Medco, Express Scripts and Express Scripts Holding Company, intend to file
relevant materials with the SEC, including a Registration Statement on Form S-4 filed by Express Scripts Holding Company that will
contain a joint proxy statement/prospectus.  INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THESE MATERIALS WHEN THEY
BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT MEDCO, EXPRESS SCRIPTS, EXPRESS SCRIPTS
HOLDING COMPANY AND THE MERGER.  The Form S-4, including the joint proxy statement/prospectus, and other relevant materials
(when they become available), and any other documents filed by Express Scripts, Express Scripts Holding Company or Medco with the
SEC, may be obtained free of charge at the SEC's web site at www.sec.gov.  In addition, investors and security holders may obtain free
copies of the documents filed with the SEC by directing a written request to:
Mackenzie Partners, Inc.
105 Madison Avenue
New York, New York 10016

This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of
securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933, as amended.

PARTICIPANTS IN THE SOLICITATION
Express Scripts, Express Scripts Holding Company and Medco and their respective executive officers and directors may be deemed to be
participants in the solicitation of proxies from the security holders of either Express Scripts and Medco in connection with the Merger.
Information about Express Scripts' directors and executive officers is available in Express Scripts' definitive proxy statement, dated
March 21, 2011, for its 2011 annual general meeting of stockholders. Information about Medco's directors and executive officers is
available in Medco's definitive proxy statement, dated April 8, 2011, for its 2011 annual general meeting of stockholders. Other
information regarding the participants and description of their direct and indirect interests, by security holdings or otherwise, will be
contained in the Form S-4 and the joint proxy statement/prospectus regarding the Merger that Express Scripts Holding Company will file
with the SEC when it becomes available.


(c) 2011 Express Scripts, Inc. All Rights Reserved

12
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



---



##### 



|Questions?

(c) 2011 Express Scripts, Inc. All Rights Reserved

13
|------------------------------------------------------------------