Barry Averill to Retire from Health Net, Inc.

Business Editors

LOS ANGELES--(BUSINESS WIRE)--Feb. 3, 2003

Health Net, Inc. (NYSE:HNT) today announced that Barry Averill, president of its Northeast health plan subsidiary, Health Net of the Northeast, Inc., will retire on March 31, 2003.

Health Net will announce a new Northeast leader by the end of the first quarter of 2003.

Averill, 64, joined Health Net's Northeast operations in April of 2000 as president, responsible for the company's day-to-day health plan operations in Connecticut, New Jersey, New York and Pennsylvania. When Health Net of the Northeast's former chief executive officer, Karen Coughlin, suddenly passed away in November of 2000, Averill was appointed to lead the Northeast.

"After nearly 40 years in the health care industry, Barry Averill has achieved many accomplishments and successes over the years," said Jay Gellert, president and chief executive officer of Health Net, Inc. "For Health Net, Barry accomplished all he set out to do -- and even more. Not only was he integral in our efforts to successfully turnaround our Northeast operations, he has continued to build on our success and strengths in the quad-state area -- and has prepared us for future growth in a market that is key to Health Net's future success."

"On behalf of the Board of Directors and the Operating Committee, I wish Barry the very best as he embarks on retirement and begins yet another chapter in his life," added Gellert.

Prior to joining Health Net, Averill served for 10 years in several executive positions with Humana, Inc. Most recently, Averill served as regional vice president for Humana's central region. Prior to that, Averill was president and chief executive officer for the Michael Reese Health Plan in Chicago.

Averill also spent several years in academic administrative positions, including assistant dean for Fiscal Affairs, College of Medicine, University of Kentucky, and as executive director of University Health Services, University of Massachusetts.

Health Net of the Northeast is one of the largest health plans in the Northeast, serving more than one million members in Connecticut, New Jersey, New York and Pennsylvania. With a physician network comprising more than 82,000 health plan provider locations, it offers a full array of open-access products and coordination for multi-region employers.

Health Net, Inc. is one of the nation's largest publicly traded managed health care companies. Its mission is to help people be healthy, secure and comfortable. The company's HMO, insured PPO and government contracts subsidiaries provide health benefits to approximately 5.3 million individuals in 15 states through group, individual, Medicare, Medicaid and TRICARE programs. Health Net's subsidiaries also offer managed health care products related to behavioral health, dental, vision and prescription drugs, and offer managed health care product coordination for multi-region employers and administrative services for medical groups and self-funded benefits programs.

For more information on Health Net, Inc., please visit the company's Web site at www.health.net.