Callen Named Head of Strategic Planning and Business Development at Aetna

HARTFORD, CT, April 28, 2004 — Aetna (NYSE: ΑET) today announced the appointment of Craig R. Callen, 48, as senior vice president, strategic planning and business development, a new position, reporting to Chairman and CEO John W. Rowe, M.D., effective immediately. Callen was head of U.S. health care investment banking at Credit Suisse First Boston (CSFB).

In his new role, Callen will be responsible for new business investment strategy as well as strategic planning. He joins the Office of the Chairman, Aetna’s most senior management group.

"As we seek to build on Aetna’s new phase of profitable growth," Dr. Rowe said, "Craig brings a wealth of experience as an investment banker involved in some of the most important health transactions in America. His strategic understanding of the industry and its prospects make him a significant addition that strengthens our senior team at this critical moment in Aetna’s return to leadership."

"Aetna has positioned itself to lead the industry in innovative ways to serve and grow its membership," Callen said. "I look forward to working with Aetna’s highly successful management team to identify and capitalize on opportunities to meet the needs of our marketplace and our shareholders."

Callen joined Donaldson Lufkin & Jenrette (DLJ) in 1984 and rose to co-head of its health care group. After DLJ’s acquisition by CSFB in 1999, Callen was named to his most recent position. Since 1989, he has focused exclusively on providing strategic and financial advice to leading health care companies. Callen has an M.B.A. from the Harvard Business School and a B.S.B.A. from Boston University. He presently serves on the Board of Directors of Sunrise Senior Living.

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, 10.9 million dental members, 7.4 million pharmacy members and 12.3 million group insurance customers, as of December 31, 2003. The company has expansive nationwide networks of more than 600,000 health care service providers, including over 362,000 primary care and specialist physicians and 3,626 hospitals. For more information about Aetna, please visit the company’s web site at

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