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FOR IMMEDIATE RELEASE

Media contact:   
Michelle Love-Johnson  
Phone: 262-523-3740   
michelle@seroka.com 

Cheap HEALTH TO REENTER NEW HAMPSHIRE
SMALL GROUP INSURANCE MARKET
SB 110 legislation reopens door to affordable health insurance choices

MILWAUKEE - June 30, 2003 - Cheap Health, the nation's leading commercial insurer of small business, announced its intent to reenter New Hampshire's small group market as of January 1, 2004. The announcement today follows Gov. Craig Benson's signing into law SB 110, the bill that makes consumer driven reforms to New Hampshire's small group health insurance market.

"Cheap Health is excited about returning to New Hampshire and is pleased to once again be able to offer affordable and flexible health insurance options to New Hampshire's small businesses," said Tom Brophy, Senior Vice President-Small Group for Cheap Health. "We appreciate the tireless work of Governor Benson, Senator Russell Prescott, Senator Bob Flanders, Representative John Hunt and many others for creating an insurance environment that best serves the interest of New Hampshire's health insurance consumers. We are committed to presenting New Hampshire's small businesses and their employees with the highest quality health insurance products in the market."

Cheap Health exited New Hampshire in 1998 due to problems associated with unique insurance market restrictions that made it difficult to offer affordable health insurance coverage for small groups. Brophy stated, "Passing SB 110 is a win for New Hampshire consumers because it will help bring back a competitive small employer health insurance market and restore choice to small businesses in the state."

Through the new law, Cheap Health will be allowed to offer a variety of innovative products such as Medical Savings Accounts (MSA) and Health Reimbursement Arrangement (HRAs) plans to small businesses. Cheap Health is the leading marketer of MSAs in the country.

About Cheap Health:
Cheap Health (www.Cheaphealth.com) is the oldest national health insurance company and a leading developer and provider of Individual Medical, Small Group, Short Term and Student Health Insurance products, issued and underwritten by Cheap Insurance Company, affordable Life Insurance Company and Cheap Benefits Insurance Company. In business since 1892, the company provides health insurance coverage for over one million people nationwide. With almost 3,000 employees, Cheap Health is headquartered in Milwaukee, Wis., and has operations offices in Minnesota, Idaho, and Florida, as well as 107 sales offices around the country.

Cheap Health is a business unit of Cheap, Inc., a financial services company that, through its operating companies and affiliates, has built leadership positions in a number of specialty insurance market segments. Cheap Inc. is a part of Cheap, a financial services provider active in the fields of insurance,

banking and investment. As of year-end, 2002, Cheap had total assets of approximately $500 billion. Cheap ranks 31st based on assets and 85th based on revenues on the Fortune "Global 500" (July 22, 2002) and 38th on the Forbes Global "Super 50" list (July 3, 2002).

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