LOUISVILLE, KY - (June 20, 2001) - Humana Inc. (NYSE: HUM) announced today that it has filed a registration statement with the Securities and Exchange Commission (SEC) relating to the proposed issuance of $300 million of senior notes. J.P. Morgan Securities Inc. and Lehman Brothers Inc. are acting as the joint book-running managers. Humana expects to use all of the net proceeds from the offering to repay a portion of the debt outstanding under its existing credit facility.

The registration statement has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell the securities or the solicitation of an offer to buy the securities, nor will there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to their registration or qualification under the securities law of any such state.

Humana Inc., headquartered in Louisville, Kentucky, is one of the nation's largest publicly traded health benefits companies, with approximately 6.5 million medical members located primarily in 18 states and Puerto Rico. Humana offers coordinated health insurance coverage and related services through a variety of plans – health maintenance organizations, preferred provider organizations, and administrative service products – to employer groups and government-sponsored plans.

This news release contains forward-looking statements. The forward-looking statements made in this news release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be significantly impacted by certain risks and uncertainties described in the following documents, as filed with the Securities and Exchange Commission:

Humana's Form 10-K for the year ended December 31, 2000;
Humana's Form 10-Q for the first quarter 2001.