FOR MORE INFORMATION, CONTACT:
Tonya Gabbert
Humana Military Healthcare Services
502-580-2914

BIRMINGHAM , AL – July 23, 2004 – Humana Military Healthcare Services, Inc. (HMHS), a wholly-owned subsidiary of Humana Inc. (NYSE: HUM), announced today that the child of one of its Birmingham-area associates received a college scholarship through The Humana Foundation Scholarship Program. The 2004-2005 scholarship program provides up to $2,500 for each scholarship to help finance the college education of children of Humana and HMHS associates. Annual awards are renewable for three years or until the undergraduate degree is obtained, with a possible total award of $10,000.

Melinda L. Elkourie was chosen from a list of 288 applicants nationwide on the basis of academic achievement, leadership and character. She will receive the maximum $2,500 scholarship. Applicants can be high school seniors, high school graduates, or college students, who are planning to pursue an academic degree full-time in the fall of the year following the award of the scholarship.

“We are very proud of Melinda and appreciate the hard work and dedication it takes to achieve an award of this nature,” said David J. Baker, HMHS president and CEO. “We wish her success in both her academic studies and future career endeavors.”

“T he scholarship program is a competitive program designed to recognize and honor academic excellence and to assist Humana families in meeting the costs of sending children to colleges of their choice,” said David A. Jones, chairman of Humana Inc. and The Humana Foundation. “Through this program, we can acknowledge the contributions of our associates and confirm our faith in the future accomplishments of our children.”

The Humana Foundation is the philanthropic arm of Humana Inc. Established in 1981, The Humana Foundation identifies, funds and nurtures projects and organizations in three fields: domestic and international health care, education, and civic and cultural development in communities where the company has a meaningful presence. More information about the Humana Foundation is available on the Internet at www.humanafoundation.org.

About HMHS
HMHS, a wholly-owned subsidiary of Humana Inc. (NYSE: HUM), began administering the TRICARE program on July 1, 1996 and will provide health benefits support and services to more than 2.7 million active duty and retired military and their eligible family members in 10 states and Puerto Rico.

About Humana
Humana Inc., headquartered in Louisville, Kentucky, is one of the nation’s largest publicly traded health benefits companies, with approximately 5.8 million medical members located primarily in 15 states and Puerto Rico. Humana offers coordinated health insurance coverage and related services – through traditional and Internet-based plans – to employer groups, government-sponsored plans, and individuals.

More information regarding Humana is available via the Internet at http://www.humana.com including:

• Annual report to stockholders;
• Securities and Exchange Commission filings;
• Most recent investor conference presentation;
• Quarterly earnings press releases;
• Audio archive of most recent earnings release conference call;
• Calendar of events (includes upcoming earnings conference call dates, times, and access number, as well as planned participation in investor conferences);
• Corporate Governance Information.

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