Louisville, Ky. (October 29, 2004) - SHPS, Inc., an integrated health management provider, announced today that it has entered into a new $150 million credit facility with a syndicate of banks and institutional lenders led by JPMorgan and including CIBC, Wachovia and Lehman Brothers. The credit facility is comprised of a five-year, $50 million revolving line of credit, and a six-year, $100 million Term Loan B. It will be used for general corporate purposes, including possible future acquisitions and the repayment of existing credit facilities.

"SHPS is pleased to announce the new credit facility, as it will provide flexibility and resources for SHPS to enhance and expand upon our promise of being the industry's leading provider of integrated health management solutions," said David A. Nelson, SHPS' president and CEO.

Merle A. Ryland, SHPS' chief financial officer stated, "SHPS has grown tremendously over the course of the year, particularly with the acquisition of Landacorp, Inc. and National Health Services, Inc. The new financing will provide significant new liquidity to support our current business and invest in our strategic business plan."

About SHPS
SHPS provides a broad range of innovative health management tools, resources and services that empower consumers to make wise healthcare decisions. With comprehensive services that transform consumer health behaviors, SHPS’ integrated delivery system maximizes the value of consumers’ and employers’ healthcare dollars. Among its many clients, SHPS serves large and mid-sized employers, health insurance carriers, third party administrators, Medicare Part D providers and government agencies. The company employs registered nurses and health professionals, employee benefit specialists and IT experts in facilities across the United States. Visit www.shps.com.

For More Information
Sarah Bovine
Director, Corporate Communications
sarah.bovine@shps.com

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