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HUMANA REPORTS SECOND QUARTER RESULTS

 LOUISVILLE, Ky., March 18 /PRNewswire/ -- Humana Inc. (NYSE: HUM) reported earnings per share of $.12 for the three months ended February 28 compared to $.04 earned in the same period a year ago.
 Net income for the second quarter was $19 million compared to $5 million a year ago.
 Second quarter premium revenues increased 12 percent to $769 million from $685 million for the same quarter a year ago. Membership at February 28, 1993 was 1,650,900 compared to 1,682,600 on February 29, 1992.
 Pretax income totaled $30 million compared to $9 million in the same period a year ago. The improvement was due to premium increases in Medicare products, continuing reductions in administrative costs as a percentage of premiums and the beneficial effect of $3 million of costs charged to the reserves established in the fourth quarter of 1992 as part of the company's restructuring.
 Net income for the six months ended February 28 was $25 million or $.16 per share while net income for the same period a year ago was $7 million or $.05 per share. Premium revenues were $1.5 billion compared with $1.3 billion for the same period a year ago. For the current six month period, pretax income was $40 million and includes the beneficial effect of $12 million of costs charged to the reserves established in the fourth quarter.
 On March 1, 1993 Humana separated its acute-care hospital and managed care health plan businesses into two unrelated publicly owned companies. Humana continues to operate the health plan business and Galen Health Care, Inc. (NYSE: GHC) operates the hospital business. In connection with the separation, Humana changed its fiscal year end from August 31 to December 31. Accordingly, future earnings will be reported on a calendar quarter basis beginning with the three months ending March 31, 1993.
 Humana provides managed care health plan services to approximately 1.65 million members, primarily through the operation of health maintenance organizations and preferred provider organizations.
 Summary of operating results for the three months ended:
 February 28, February 29,
 1993 1992
 Premium revenues $ 769,000,000 $ 685,000,000
 Income before income taxes $ 30,000,000 $ 9,000,000
 Net income $ 19,000,000 $ 5,000,000
 Earnings per common share $ .12 $ .04
 Shares for earnings per
 share computation 158,864,222 158,441,684
 For the six months ended:
 February 28, February 29,
 1993 1992
 Premium revenues $1,500,000,000 $1,333,000,000
 Income before income taxes $ 40,000,000 $ 12,000,000
 Net income $ 25,000,000 $ 7,000,000
 Earnings per common share $ .16 $ .05
 Shares for earnings per
 share computation 158,814,192 158,410,054
 -0- 3/18/93
 /CONTACT: Laurie G. Scarborough of Humana Inc., 502-580-1037/
 (HUM GHC)


CO: Humana Inc. ST: Kentucky IN: HEA INS SU: ERN

CM -- CH001 -- 7353 03/18/93 09:48 EST
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Date:Mar 18, 1993
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