Aetna U.S. Healthcare and The Chickering Group Form National Alliance To Provide Health Insurance for College Students

Agreement will serve more than 150,000 students nationwide

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This relationship combines the strengths of Aetna U.S. Healthcare, a national health and related benefits organization, and the Chickering Group's decade of experience offering comprehensive, student-focused insurance programs. Through this alliance, the companies are committed to improving the health insurance experience of more than 14 million students attending undergraduate and graduate schools throughout America.

"We have a unique opportunity to play a role in educating a large number of students who are purchasing health insurance for the first time because they may no longer be covered by their parents' policy," said Timothy E. Nolan, Head of Aetna U.S. Healthcare Field Operations. "And we're pleased to be working with The Chickering Group because our organizations share a philosophy of reaching out to help our members get appropriate, timely care."

This relationship allows Aetna U.S. Healthcare and The Chickering Group to work together in offering health insurance to more than 150,000 student members in more than 11 states during the 1998-99 academic year. While the majority of this membership is in Massachusetts, New York, Illinois and Michigan, Aetna U.S. Healthcare and The Chickering Group expect to expand their relationship nationwide.

"Today's students are concerned about the increasing expense and complexity surrounding health insurance, and we are confident this newly formed alliance will enhance The Chickering Group's leadership role in this market," said Frederick H. Chicos, The Chickering Group's President and CEO.

"Through this arrangement, Aetna U.S. Healthcare and The Chickering Group offer students a cost-effective, flexible health insurance option tailored to meet the unique needs of the student population."

The nationwide presence of Aetna U.S. Healthcare's participating physicians and hospitals, along with Aetna U.S. Healthcare's full accreditation from the American Accreditation HealthCare Commission/Utilization Review Commission (Commission/URAC) for its non-HMO utilization management programs, will help eliminate geographic barriers that students often face in accessing health care. "We expect the benefit of year- round health care coverage -- whether it's at home, on campus or vacation -- will help play a role in schools' retention and recruitment of today's mobile student population," Chicos added.

Additionally, a full compliment of on-line health, wellness and insurance-specific information is available 24-hours a day, seven days a week. For example, students will be able to review their health insurance coverage on the Internet via The Chickering Group's website (www.chickering.com); customize a search for a physician or hospital by using Aetna U.S. Healthcare's electronic provider directories (www.aetnaushc.com); and through the informational health website Intelihealth (www.intelihealth.com), which Aetna U.S. Healthcare sponsors in conjunction with John Hopkins University, e-mail questions can be sent to health care providers at the university.

The companies believe this agreement's other benefits include The Chickering Group's proven ability to build active partnerships with campus-based student health centers and tailor customer service and claims payment to the student population.

About Aetna U.S. Healthcare

Aetna U.S. Healthcare is one of the nation's leading health and related benefits organizations, providing a full spectrum of products ranging from health maintenance organizations (HMO) to indemnity health insurance, group life and disability products, and dental, vision and pharmacy benefits to nearly 16 million Americans. In addition, Aetna U.S. Healthcare provides quality measurement and improvement programs and data analysis for providers and purchasers of health care.

Seventeen of Aetna U.S. Healthcare's Health Maintenance Organizations (HMO) across the country have been granted accreditation from the National Committee for Quality Assurance (NCQA). NCQA reviews health plans against more than 50 specific standards in the areas of quality management and improvement, physician credentialing, preventive health services, utilization management, members' rights and responsibilities and medical records.

Additionally, Aetna U.S. Healthcare was recently awarded full accreditation from the American Accreditation HealthCare Commission/Utilization Review Accreditation Commission (Commission/URAC), for its non-HMO utilization management programs. The accreditation is based on Aetna U.S. Healthcare's ability to meet or exceed national standards during a review of its utilization, patient and quality management policies and on-site reviews.

About The Chickering Group

The Chickering Group is a Cambridge, Mass.-based student health insurance broker and administrator with more than a decade of service in the college insurance market. The Chickering Group's knowledge with respect to the unique aspects of the student insurance market -- student services, the critical role of the student health center and plan design needs -- gives this organization a proven track record of providing solutions for the undergraduate and graduate school population.

The Chickering Group's team of executives also bring industry-specific experience in claims utilization management, underwriting, customer service, and information systems to the student marketplace. This knowledge, in conjunction with the company's single-market focus in providing a comprehensive student health insurance program, has distinguished The Chickering Group as a leader in the student market.

CONTACT: Jill B. Griffiths, 215-775-6890, or e-mail, griffij2@ushc.com, or Investors, Robyn Walsh, 860-273-6184, both for Aetna