HLEX Healthextras (MM)

Catalyst Rx, the pharmacy benefit management subsidiary of HealthExtras, Inc. (NASDAQ:HLEX), has been awarded the Pharmacy Benefit Management Institute�s (PBMI) 2008 Rx Benefit Innovation Award with its client partner, the State of Louisiana Office of Group Benefits (OGB). The OGB and Catalyst Rx were recognized jointly for a model physician outreach program that significantly increased the prescribing and utilization of generic drugs, resulting in a three-year savings of $28 million in drug spend for the OGB. �Our 2008 award recipients have collaborated with drug benefit stakeholders�physicians, pharmacists and patients themselves�to improve the quality and cost-effectiveness of the drug benefit they offer,� said Dana H. Felthouse, MBA, president of PBMI. �Their efforts are truly best practices that should be emulated and adopted by others to improve prescribing patterns.� The Prescriber Education and Intervention Program, implemented by Catalyst Rx for the OGB, focuses on educating top prescribing physicians. The program incorporated a collaborative approach between Catalyst Rx clinical pharmacists and the OGB to present local physicians with plan-specific data, modeling generic drug savings potential. It contributed significantly to a 5 percent increase in OGB�s generic substitution rate and a 7.2 percent increase in its generic utilization rate. �We are pleased to be recognized by industry experts at PBMI as an innovator,� said David Blair, Chief Executive Officer of Catalyst Rx. �A localized approach to pharmacy benefit management is one of our key differentiators and clearly has an impact on our client partnerships, including the OGB.� PBMI�s Rx Benefit Innovation Award was presented at its annual Drug Benefit Conference attended by more than 350 industry professionals. The annual competition is open to all PBMs and health plans and facilitates the sharing of innovative practices among industry stakeholders. A recipient of the award in 2004, Catalyst Rx was one of three organizations recognized for the award in 2008. About PBMI (www.pbmi.com) The mission of the Pharmacy Benefit Management Institute (PBMI) is to create the industry's premier forum for health care purchasers to exchange ideas, advance best practices, and drive appropriate changes in the pharmacy benefit management marketplace. PBMI offers research, continuing education, publications and Web resources to help employers, health plans, union groups, and third-party administrators work effectively with PBMs and others in the pharmacy industry to optimize the value of drug benefit programs. An Advisory Board representing the needs of the drug benefit purchasing community sets direction for PBMI services. About HealthExtras (www.healthextras.com): Catalyst Rx, the pharmacy benefit management subsidiary of HealthExtras, Inc., is a full-service pharmacy benefit management company. Its clients include self-insured employers, including state and local governments, third-party administrators, managed care organizations, unions and individuals. The Company's integrated pharmacy benefit management services marketed under the name Catalyst Rx include: claims processing, benefit design consultation, drug utilization review, formulary management, drug data analysis services and mail order services. Additionally, the Company operates a national retail pharmacy network with over 60,000 participating pharmacies. This press release may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve a number of risks and uncertainties. Factors that we have identified that might materially affect our results are discussed in our Annual Report on Form 10-K for the year ended December 31, 2006 under "Item 1.A Risk Factors." Readers are urged to carefully review and consider the various disclosures made in our Annual Report on Form 10-K and our other filings with the Securities and Exchange Commission that attempt to advise interested parties of the risks and uncertainties that may affect our business.