Health Net of California Receives Corporation of the Year Award from the...

Health Net of California Receives Corporation of the Year Award from the Latin Business Association



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WOODLAND HILLS, CA—(HISPANIC PR WIRE – BUSINESS WIRE)–May 24, 2005–Health Net of California announced today that it received the “Corporation of the Year” award from the Latin Business Association (LBA) for its continued leadership in the Latino business community.

“This recognition is a tremendous honor for all of us at Health Net, including our Latino associates who represent one third of our workforce in California,” said Stephen Lynch, president of Health Net of California. “We believe it is vital to California’s economic well-being to continue developing products and services like Salud con Health Net that are accessible and affordable for Latino business owners and their employees.”

For five years, Health Net has actively partnered with the LBA by participating in various planning committees and serving on its corporate advisory board.

“The LBA is proud to recognize Health Net as a company that continues to break new ground in the health care industry and demonstrates a keen understanding of specific needs in the Latino community,” said Ray Durazo, chairman of the board of directors for the LBA. “Salud con Health Net – an innovative employer-based, cross-border product – is an example of Health Net’s ongoing commitment to Latinos.”

The LBA, established in 1976 as a private nonprofit organization, is the nation’s largest organization representing the issues and concerns of Latino business owners. The primary purpose of the LBA is to promote the growth of Latino-owned companies through business development, education and advocacy. For more information, please call the LBA office at (213) 628-8510 or visit the Web site at http://www.LBAusa.com.

Salud con Health Net is offered by Health Net of California, a subsidiary of Health Net, Inc. (NYSE: HNT). With its affordable cost and health care provider networks on both sides of the border, businesses can offer coverage for their employees and their families in both California and Mexico. Coverage in Mexico is provided through Sistemas Medicos Nacionales, S.A. de C.V. (SIMNSA), the first Mexican health plan to be licensed by the state of California. For more information, employers may call Health Net’s enrollment line at (800) 600-8441 and brokers may call Health Net Broker Relations at (800) 448-4411.

For more information on Health Net, Inc., please visit the company’s Web site at http://www.healthnet.com.

Certain matters discussed in this release contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, that involve risks and uncertainties. All statements other than statements of historical information provided herein may be deemed to be forward-looking statements. These statements are based on management’s analysis, judgment, belief and expectation only as of the date hereof, and are subject to uncertainty and changes in circumstances. Without limiting the foregoing, the words “believes,” “anticipates,” “plans,” “expects,” “may,” “should,” “could,” “estimate,” “intend” and other similar expressions are intended to identify forward-looking statements. Actual results could differ materially due to, among other things, rising health care costs, trends in medical care ratios, operational issues, health care reform and general business conditions. Additional factors that could cause actual results to differ materially from those reflected in the forward-looking statements include, but are not limited to, the risks discussed in the “Risk Factors” section included within the company’s most recent Annual Report on Form 10-K filed with the SEC and the risks discussed in the company’s other periodic filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date of this release.

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Contacts:

Noemi Fishman

818.676.7666

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Brad Kieffer

818.676.7666

Health Net of California Receives Corporation of the Year Award from the Latin Business Association