Aetna Board Authorizes Share Repurchases

HARTFORD, Conn., December 5, 2003 — Aetna Inc. (NYSE: ΑET) today announced that its Board of Directors has adopted a resolution authorizing the company to repurchase from time to time up to 10 million shares of its common stock, not to exceed an aggregate purchase price of $750 million.

The company intends to continue buying shares utilizing available cash, including proceeds from employee stock option exercises, in order to offset dilution from option exercises. This new program replaces any shares remaining to be purchased under prior authorizations. Aetna had approximately 153 million common shares outstanding as of September 30, 2003.

Aetna is one of the nation’s leading providers of health care, dental, pharmacy, group life, disability and long-term care benefits, serving approximately 13.0 million medical members, 11.0 million dental members, 7.4 million pharmacy members and 12.1 million group insurance customers, as of September 30, 2003. The company has expansive nationwide networks of more than 590,000 health care services providers, including more than 355,000 primary care and specialist physicians and 3,577 hospitals. For more information about Aetna, please visit the company’s web site at www.aetna.com.



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