Health Net, Inc. Appoints Bruce Willison to Board;Willison, Dean of UCLA's Anderson School,...

Business Editors

LOS ANGELES--(BUSINESS WIRE)--Dec. 19, 2000

Health Net, Inc. (NYSE:HNT), formerly known as Foundation Health Systems, Inc. (FHS), today announced the appointment of Bruce G. Willison to the Health Net, Inc. Board of Directors, effective December 12, 2000.

"We welcome Bruce Willison to our Board of Directors," said Richard W. Hanselman, chairman of the board of Health Net, Inc. "Bruce's extensive background in finance and banking, coupled with the perspectives he has gained at a top-ranked school of management, will be an asset to the Board as we continue to seek ways to bring greater value to members, providers, employers and stockholders."

Willison began his banking career in 1973 at Bank of America, where he held several corporate positions in Los Angeles and Mexico City. In 1979, Willison joined First Interstate Bancorp. During his 17-year tenure with the bank, he served in several executive positions, including chairman and chief executive officer of First Interstate's Oregon operation; chairman, president and chief executive officer of First Interstate Bank of California; and vice chairman of the bank's holding company, First Interstate Bancorp.

In 1996, Willison was appointed president and chief operating officer of H.F. Ahmanson and Co., the parent company of Home Savings of America, at that time the largest savings bank in the country.

Willison serves as a director of Nordstrom, Inc. and Housing and Commercial Bank in Seoul, Korea. Willison also is active in the Southern California community, serving on the boards of several non-profit organizations, including the United Way of Greater Los Angeles, the Los Angeles Sports Council and Operation Hope, Inc.

A native of Riverside, California, Willison received his bachelor's degree in economics from UCLA, and an MBA in finance from the University of Southern California.

Willison fills the vacancy on the Health Net, Inc. Board of Directors created by Admiral Earl Fowler's retirement in May of 2000.

Health Net, Inc. (NYSE:HNT), formerly known as Foundation Health Systems, Inc., is one of the nation's largest publicly traded managed health care companies. Its mission is to enhance quality of life for its customers by offering products distinguished by their quality, service and affordability. The company's HMO, insured PPO and government contracts subsidiaries provide health benefits to approximately 5.3 million individuals in 16 states through group, individual, Medicare risk, Medicaid and TRICARE programs. Health Net, Inc. subsidiaries also offer managed health care products related to behavioral health, dental, vision 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.