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UNITED HEALTHCARE REPORTS FIRST QUARTER RESULTS: EARNINGS UP 61 PERCENT IN 14TH CONSECUTIVE RECORD QUARTER

 UNITED HEALTHCARE REPORTS FIRST QUARTER RESULTS:
 EARNINGS UP 61 PERCENT IN 14TH CONSECUTIVE RECORD QUARTER
 MINNEAPOLIS, May 5 /PRNewswire/ -- United HealthCare Corporation (NYSE: UNH) today announced record revenues and earnings for the first quarter ended March 31, 1992. Revenues were $335.3 million, an 87 percent increase over first quarter 1991. Earnings were $25.0 million, up 61 percent from last year's first quarter, with earnings per share of $0.75, a 39 percent increase over the same period last year.
 "We're extremely pleased with the quarter's performance," said William W. McGuire, UHC's president, chairman and chief executive officer.
 McGuire said the quarter's record per-share earnings reflect a 16 percent increase in the number of UHC shares outstanding following a public offering completed March 5, 1992. 2,500,000 common shares were sold in the offering, with net proceeds to the company of $195,891,000.
 Balance Sheet Strength
 Shareholders' equity rose to $539.4 million at March 31, compared with $318.7 million at Dec. 31, 1991, reflecting the quarter's earnings as well as proceeds from the offering, McGuire said.
 Medical Loss Ratio
 UHC's first quarter health plan medical loss ratio (medical costs as a percent of premium revenues) remained steady at 81.7 percent compared with 81.0 percent for the fourth quarter of 1991. The slight increase reflects, as expected, the company's Jan. 2, 1992, acquisition of 156,000-member Physicians Health Plan of Ohio. McGuire said the integration of that plan into UHC is proceeding well.
 Enrollment Growth
 -- Health plans. Enrollment in the company's health plans totalled 1,621,000 at March 31, a 29 percent increase over one year ago and an 18 percent increase over year-end 1991.
 -- Specialty Companies. Lives served by UHC's specialty companies totalled 16,768,000 at March 31, a 65 percent increase over March 31, 1991, and a 19 percent increase over year-end. Diversified Pharmaceutical Services registered 22 percent growth in the first quarter, to 5,626,000 lives; United Behavioral Systems -- 40 percent growth to 1,401,000 lives; Healthmarc -- 18 percent growth to 1,168,000 lives; United Resource Networks -- 13 percent growth to 7,475,000 lives; and Institute for Human Resources -- 27 percent growth to 1,098,000 lives.
 McGuire said the specialty companies' strong growth, reflecting increasing demand for effective specialized care management services among self-insureds, insurers and non-UHC health plans, continues in the second quarter.
 United HealthCare Corporation is a national leader in health care management, serving purchasers, users, managers and providers of health care since 1974. The company offers a broad range of products through 19 locally based health plans and 9 non-geographically bounded specialty care management companies. The company's services include: HMOs; PPOs; health plan management; pharmaceutical cost management; managed mental health and substance abuse services; utilization management; workers compensation/casualty services; specialized provider networks; employee assistance services; Medicare and managed care programs for the aged; health care evaluation services; information systems; and administrative services.
 UNITED HEALTHCARE CORPORATION
 EARNINGS REPORT
 (In thousands, except per-share data)
 Three Months Ended
 3/31/92 3/31/91
 Revenues $335,276 $179,374
 Net earnings $24,980 $15,555
 Net earnings per share $0.75 $0.54
 Average number of common
 shares outstanding 33,288 28,753
 -0- 5/5/92
 /CONTACT: David P. Koppe, 612-939-7760, or Noreen L. Conway, 612-936-1125/
 (UNH) CO: United HealthCare Corporation ST: Minnesota IN: MTC SU: ERN


AL -- MN002 -- 6365 05/05/92 08:32 EDT
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Date:May 5, 1992
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