HLEX Healthextras (MM)

Catalyst Rx, the pharmacy benefit management subsidiary of HealthExtras, Inc. (NASDAQ:HLEX), announced today that it has been awarded full Pharmacy Benefit Management (PBM) accreditation from URAC, a Washington, D.C. based health care accrediting organization that establishes quality standards for the health care industry. URAC's PBM Accreditation Program is the first-ever set of national standards for PBMs. The program requires PBMs to attain key benchmarks in service quality and Continuous Quality Improvement (CQI) oriented processes that improve operations and enhance compliance. These standards address organizational quality, customer service, communications, disclosure of pricing policies, pharmaceutical distribution, drug utilization management, and the Formulary/Pharmacy & Therapeutics Committee. URAC's PBM accreditation process includes an application and evaluation process, a rigorous on-site evaluation and assessment by a URAC accreditation team, and review and consideration for accreditation by URAC's Accreditation Committee. �Catalyst Rx should be commended for meeting strict quality standards,� said Alan P. Spielman, URAC President and Chief Executive Officer. �It is critically important for health care organizations to make a commitment to quality and accountability. URAC accreditation is a demonstration of that commitment.� �Being one of the first PBMs to receive full URAC PBM accreditation further demonstrates our long standing commitment to lead the PBM industry in quality and transparency,� said Nick J. Grujich, Executive Vice President and Chief Operating Officer at Catalyst Rx. In addition to receiving full accreditation, Catalyst Rx received URAC�s Drug Therapy Management accreditation in October 2007. About URAC URAC, an independent, nonprofit organization, is a leader in promoting health care quality through accreditation and certification programs. URAC's standards keep pace with the rapid changes in the health care system, and provide a mark of distinction for health care organizations to demonstrate their commitment to quality and accountability. Through its broad-based governance structure and an inclusive standards development process, URAC ensures that all stakeholders are represented in setting meaningful standards for the health care industry. For more information, visit www.urac.org. 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.