Physicians Health Services Joins ChannelPoint Commerce Internet Exchange for Insurance.

NEW YORK--(BUSINESS WIRE)--July 21, 1999--

Leading Tri-State Insurance Carrier Provides Brokers with Access

to Comprehensive Plan information on the Web

Physicians Health Services (PHS), the third largest health plan in the northeast with one million members in Connecticut, New York and New Jersey, today announced its participation in the ChannelPoint Commerce Internet Exchange. The agreement with ChannelPoint, the world's only Internet exchange provider for insurance, allows PHS to offer complete health plan information, options, products and services through the ChannelPoint Commerce Broker(TM) electronic marketplace (e-market).

"Today's announcement is good news for any insurance broker seeking to use the Internet for a competitive advantage. The ChannelPoint Internet exchange is ideal for our industry, streamlining the sales process and improving the speed at which products can be provided to their customers," said Tammy Tucker, senior vice president, sales at PHS. "ChannelPoint's e-commerce solution will provide immediate lift to PHS's small group product portfolio, Healthcare Solutions, expanding reach and accessibility to brokers."

"The ChannelPoint Internet exchange strongly complements PHS' desire to develop new ways to sell their products," said Jeff Bork, senior vice president of worldwide marketing for ChannelPoint. "By participating in the ChannelPoint Commerce Internet exchange, PHS can take a first mover advantage by leveraging the Internet to grow their business "

ChannelPoint Commerce Broker is an advanced e-market enabled by the ChannelPoint Commerce exchange and designed specifically for brokers and agents to sell insurance and benefits products on the web. Unlike simple, internet-based referral services and product catalogs, the tools and information available at www.commercebroker.com enable brokers to electronically compare benefits and premium costs among numerous insurance companies 24 hours a day, seven days a week. Brokers can specify benefit configurations, with co-payment levels, deductibles and other factors, then run comparisons, download a completely formatted proposal and ultimately, submit the business for processing with the carrier over the web.

Brokers and insurance agents throughout the New York tri-state market will be able to access Physicians Health Services product and service information through the free service located at www.commercebroker.com.

About Physicians Health Services

Physicians Health Services is a full service health plan that serves close to one million members in the tri-state area. With a physician network consisting of 55,000 health care providers, Physicians Health Services is the third largest health plan in the northeast, offering a full array of open access products, women's health initiatives and coordination for multi-region employers. Additional information about Physicians Health Services is available on the Internet at www.phshmo.com.

About ChannelPoint, Inc.

ChannelPoint is the global leader in reinventing how businesses buy, sell and service insurance and benefits products via the Internet. Leading insurance companies, brokerages and financial institutions use ChannelPoint's `straight-through processing' solutions to maximize sales and efficiency by streamlining their entire distribution cycle. The ChannelPoint Commerce Internet exchange enables complete web-based marketing, buying and selling for businesses and consumers. The ChannelPoint Insure software suite automates carrier and broker activities including proposals, rating, underwriting and renewals. ChannelPoint is headquartered in Colorado Springs, Colo. For more information, visit http://www.channelpoint.com.

This release contains forward-looking statements, which may involve known and unknown risks, uncertainties and other factors that may cause actual results and performance to be materially different from any future results or performance suggested by these statements.

Note to editors: ChannelPoint, ChannelPoint Commerce and ChannelPoint Insure are trademarks of ChannelPoint, Inc. All other product and company names mentioned herein are the property of their respective owners and are mentioned for identification purposes only.