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UNITED HEALTHCARE REPORTS 51 PERCENT EARNINGS INCREASE OVER YEAR-AGO SECOND QUARTER

 UNITED HEALTHCARE REPORTS 51 PERCENT EARNINGS INCREASE
 OVER YEAR-AGO SECOND QUARTER
 Specialty Businesses Grow 61 Percent;
 Health Plan Membership Up 30 Percent
 MINNEAPOLIS, Aug. 5 /PRNewswire/ -- United HealthCare Corporation (NYSE: UNH) today announced results for the quarter and six months ended June 30, 1992. These record results mark 15 consecutive quarters of revenue and earnings growth.
 Second Quarter Results
 Revenues were $351.0 million, an 88 percent increase over second quarter 1991. Earnings were $27.6 million, up 51 percent over last year's second quarter, with earnings per share of $0.79, a 39 percent increase over earnings per share of $0.57 reported for the same period last year.
 Six Months
 Revenues for the first six months of 1992 were $686.2 million, up 88 percent from the same period in 1991. Earnings totalled $52.6 million, a 56 percent increase over net earnings for first six months of last year. Earnings per share were $1.54, up 39 percent over earnings per share of $1.11 reported for the first half of 1991.
 UHC Chairman, President and CEO William W. McGuire, M.D., said the results reflect continuing strong demand for the company's managed care products and services as well as the effectiveness of those products and services as applied in the company's own operations, coupled with ongoing administrative efficiencies and controls companywide. "We're very pleased with these results and with what they tell us and our clients," he said. Also noted by McGuire:
 Medical Loss Ratio
 The company's medical loss ratio (medical costs as a percent of premium revenues) in its owned plans was 81.6 percent, improved slightly from first quarter 1992's 81.7 percent. "We are pleased with this trend and the consistency in these results from our organized care delivery programs. We are especially pleased when it is considered in the context of our high rate of revenue growth," McGuire said.
 Shareholders' Equity
 Shareholders' equity stood at $569.3 million at June 30, compared with $318.7 million at Dec. 31, 1991, reflecting net proceeds of $195,891,000 from the sale of 2,500,000 shares of common stock in a public offering completed this March, as well as earnings for the first two quarters.
 Enrollment Growth
 Health Plans. Enrollment in United HealthCare's owned and managed health plans rose 30.3 percent in the year ended June 30, to 1,655,000. Reflected in the total are the company's January 1992 acquisition of Physician Health Plan of Ohio, Inc., with 156,000 enrollees at June 30, and its administrative services management contract with Physicians Plus Insurance Company. "Same-store" enrollment growth for the one-year period was 12.6 percent.
 Specialty Companies. UHC's specialty companies' services now cover a total of 17,720,000 lives, an increase of 60.6 percent over June 30, 1991. McGuire said that strong market demand for the specialty companies' services, as evidenced by this growth, continues in the third quarter.
 Specialty Growth Highlights. Highlights of specialty growth for the 12 months ended June 30 include the following: Diversified Pharmaceutical Services -- 70.4 percent growth to 6,119,000 lives served; United Behavioral Systems -- 89.4 percent growth to 1,428,000 lives; Healthmarc -- 43.3 percent growth to 1,333,000 lives; United Resource Networks -- 54.0 percent growth to 7,695,000 lives; and Institute for Human Resources -- 50.5 percent growth to 1,145,000 lives.
 McGuire noted that additional new sales of specialty products and services continue at a strong pace, with significant enrollment and revenue gains being realized by all of the company's specialty businesses. Thus far these sales collectively cover more than 1,000,000 lives not reflected in the second quarter numbers.
 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 nine 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
 6/30/92 6/30/91
 Revenues $350,951 $186,696
 Net earnings $27,600 $18,269
 Net earnings per share $0.79 $0.57
 Average number of common
 shares outstanding 35,077 32,101
 Six Months Ended
 6/30/92 6/30/91
 Revenues $686,227 $366,070
 Net earnings $52,580 $33,824
 Net earnings per share $1.54 $1.11
 Average number of common
 shares outstanding 34,196 30,362
 -0- 8/5/92
 /CONTACT: David P. Koppe, 612-939-7760, or Noreen L. Conway, 612-936-1125, both of United HealthCare/
 (UNH) CO: United HealthCare Corporation ST: Minnesota IN: HEA INS SU: ERN


AL -- MN001 -- 6929 08/05/92 08:28 EDT
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Date:Aug 5, 1992
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