Wednesday August 23, 10:25 am Eastern Time
RYE
BROOK, N.Y.--(BUSINESS WIRE)--Aug. 23, 2000--Universal American Financial Corp.
(NASDAQ National Market: UHCO
- news; ``Universal'')
today announced that it has been recognized by Fortune magazine as one of ``America's
100 Fastest-Growing Companies.'' Universal ranked no. 58 out of 100 companies
chosen for this year's list and was the only insurance company represented. The
list is available now at www.fortune.com
and in the September 4th issue of Fortune.
According
to Fortune, ranked companies must have demonstrated, among other things, a 30%
annual growth rate in both revenue and earnings per share for the past three
years. Universal produced a three-year annual earnings per share growth rate of
154% for this period (no. 12 ranking) on a three-year annual revenue growth
rate of 35% (no. 92 ranking). Universal's total stock market return over the
past three years was 29% (no. 68 ranking).
Richard
Barasch, Chairman and CEO of Universal, commented, ``We are honored to be
included in such a prestigious list of rapidly growing companies. Over the past
few years, our management team, agents and employees have worked diligently to
make Universal one of the industry's fastest growing providers of supplemental
health and life insurance.''
Except
for the historical information contained above, this document may contain some
forward looking statements, including statements related to 2000 and 2001
operating results, which involve a number of risks and uncertainties that could
cause actual results to differ materially. These risk factors are listed from
time to time in the Company's SEC reports.
Contact:
Universal American Financial Corp. Robert A. Waegelein Senior Vice President & Chief Financial Officer (914) 934-8820 orINVESTOR RELATIONS COUNSEL: The Equity Group Inc. www.theequitygroup.com Devin Sullivan (212) 836-9608