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CARENETWORK ANNOUNCES SHARE REPURCHASE PROGRAM

 CARENETWORK ANNOUNCES SHARE REPURCHASE PROGRAM
 MILWAUKEE, Dec. 4 /PRNewswire/ -- CareNetwork, Inc. (NASDAQ: CRNT)


received authorization from its board of directors to initiate a share repurchase program up to 500,000 shares or approximately 10 percent of the shares outstanding.
 "The primary basis for establishing the share repurchase program is the company's view that the stock price at current levels does not reflect either our operating performance or future growth potential," said Kipton Kaplan, president and CEO. "Moreover, this program reflects the confidence our company and the board of directors has in our five- year strategic plan," he added.
 "We intend to use any repurchased shares to finance our two-track growth strategy which calls for the development of HMO joint ventures and the acquisition of non-insurance specialty businesses," added Craig Kasten, chief operating officer.
 CareNetwork, Inc. had 5,032,883 shares outstanding as of Sept. 30, 1991.
 CareNetwork, Inc. is a Milwaukee-based managed care services holding company for its wholly owned, 138,000 member Wisconsin Health Organization HMO subsidiary.
 -0- 12/4/91
 /CONTACT: Walter R. Barry, III of CareNetwork, Inc., 414-223-0172/
 (CRNT) CO: CareNetwork, Inc. ST: Wisconsin IN: HEA SU:


AL -- MN010 -- 9426 12/04/91 18:00 EST
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Publication:PR Newswire
Date:Dec 4, 1991
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