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 | Carewise Health
SHPS is a leading, independent provider of integrated health solutions that improve personal health and reduce spending. By integrating traditional health management and benefits administration services, SHPS delivers people-centric solutions that empower individuals to make wise healthcare choices. It serves large and mid-sized employers, government agencies, and third-party administrators through the company’s Carewise Health, Landacorp, and SHPS brands. Visit www.carewisehealth.com.

For More Information
LeAnn Ross
Director of Marketing
leann.ross@shps.com

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