Sierra Health Services Announces an Increase in Its Share Repurchase Program

Las Vegas-based Sierra Health Services Inc. announced that its Board of Directors has authorized the company to purchase up to an additional 3 million shares of its common stock.

On Jan. 7, 2003, the company announced that the Board authorized a program for the repurchase of up to 2 million shares of common stock. On Feb. 25, 2003 and May 27, 2003 the company announced authorization for an additional 600,000 and 2 million shares, respectively.

The company said that repurchases have been made from time to time at prevailing prices in the open market, by block purchase or in private transactions and have totaled approximately 3.8 million shares to date. Considering these repurchases, Sierra is now authorized to purchase up to an additional 3.8 million shares. The company had approximately 27.9 million shares of common stock outstanding at Sept. 30, 2003.

Sierra Health Services Inc. is a diversified health care services company that operates health maintenance organizations, indemnity and workers’ compensation insurers, military health programs, preferred provider organizations and multi-specialty medical groups. Sierra’s subsidiaries serve over 1.2 million people through health benefit plans for employers, government programs and individuals.