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Health Net, Tenet California Sign New Agreement

Monday, November 8, 2004 5:08 am PST

Dateline:

LOS ANGELES

Public Company Information:

NYSE:
THC
NYSE:
HNT
"Our new Tenet contract establishes a cooperative, mutually beneficial relationship with one of California's largest hospital providers and assures our members continued, stable access to quality care going forward"

LOS ANGELES--(BUSINESS WIRE)--Tenet California (NYSE:THC) and Health Net (NYSE:HNT) announced today that the two companies have signed a new two-year agreement that will assure continued access to care for Health Net of California's 2.4 million members at Tenet California's 18 hospitals through 2006.

"This new contract means continuing access to care for Health Net members and a strong, ongoing relationship between our two companies," said Stephen Newman, M.D., chief executive officer of Tenet California. "It also gives our hospitals predictable and timely payment for services to our patients, and insures Health Net predictable expenses and access to Tenet's large statewide network of hospitals."

"Our new Tenet contract establishes a cooperative, mutually beneficial relationship with one of California's largest hospital providers and assures our members continued, stable access to quality care going forward," said Jay Gellert, president and chief executive officer of Health Net.

Contract details were not disclosed.

Tenet California, part of Tenet Healthcare Corporation (NYSE:THC), through its subsidiaries, owns and operates 18 acute care hospitals in the state, which employ approximately 17,500 people. Tenet's hospitals aim to provide the best possible care to every patient who comes through their doors, with a clear focus on quality and service. Tenet can be found on the World Wide Web at www.tenethealth.com.

Health Net, Inc. is among the nation's largest publicly traded managed health care companies. Its mission is to help people be healthy, secure and comfortable. The company's HMO, POS, insured PPO and government contracts subsidiaries provide health benefits to approximately 7.3 million individuals in 27 states and the District of Columbia through group, individual, Medicare, Medicaid and TRICARE programs. Health Net's subsidiaries also offer managed health care products related to behavioral health and prescription drugs, and offer managed health care product coordination for multi-region employers and administrative services for medical groups and self-funded benefits programs. For more information on Health Net, Inc., please visit the company's Web site at www.healthnet.com.

Certain statements in this release may constitute forward-looking statements. They are based on management's current expectations and could be affected by numerous factors and are subject to various risks and uncertainties. Certain of those risks and uncertainties are discussed in the Company's filings with the Securities and Exchange Commission, including the Company's transition report on Form 10-K for the 7-month period ended Dec. 31, 2002 and quarterly reports on Form 10-Q. Do not rely on any forward-looking statement, as we cannot predict or control many of the factors that ultimately may affect our ability to achieve the results estimated. We make no promise to update any forward-looking statement, whether as a result of changes in underlying factors, new information, future events or otherwise.

Contact:

Tenet Healthcare Corporation
David Langness, 310-966-3155
www.tenethealth.com
or
Health Net, Inc.
David Olson, 818-676-6978