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EXHIBIT 99.1
151 Farmington Avenue
Hartford, Conn. 06156
MEDIA CONTACT:
Fred Laberge
860-273-4788
[email protected]
INVESTOR CONTACT:
Robyn S. Walsh
860-273-6184
[email protected]
AETNA CONTINUES TALKS WITH ING; ALSO BEGINS DISCUSSIONS WITH ADDITIONAL
PARTIES ON POTENTIAL SALE OF FINANCIAL SERVICES AND INTERNATIONAL BUSINESSES
HARTFORD, CT, JUNE 16, 2000 - Aetna (NYSE: AET) today announced that, in
addition to continuing discussions with ING Group on the possible sale of all or
part of Aetna's financial services and international businesses, it has also
entered into discussions with other interested parties.
Chairman and CEO William H. Donaldson said, "We are continuing to talk with ING
regarding their interest in Aetna's financial services and international assets.
However, we have also received numerous expressions of interest in these assets
from other potential acquirers. In view of our goal of delivering value to our
shareholders, either through the separation or sale of these assets, we believe
we also should evaluate these opportunities. At the same time, we are committed
to taking into account the concerns of our customers, employees, and other
important constituents. There can be no assurances that we will execute a
definitive agreement to sell these businesses or what the terms of such an
agreement would be."
A Fortune 50 company, Aetna provides over 45 million people worldwide with
quality products, services and information to help them manage best what matters
most: their health and financial well-being. Information about Aetna is
available at www.aetna.com.
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CAUTIONARY STATEMENT - Certain information in this press release is forward
looking, including statements regarding the separation of Aetna Financial
Services into an independent publicly traded company and the possibility of a
transaction with ING or other potential acquirers. The statements are subject to
significant uncertainties, many of which are beyond Aetna's control. Important
risk factors could cause actual future results of Aetna's businesses, the manner
and time frame of accomplishing the proposed transactions and other future
events to differ materially from those currently estimated by management. Those
risk factors include, but are not limited to, the ability to successfully
structure, negotiate and complete the proposed transactions on a timely basis.
For further discussion of important risk factors that may materially affect
management's estimates, please see the risk factors contained in Aetna's
Securities and Exchange Commission filings, which risk factors are incorporated
herein by reference. You also should read those filings, particularly Aetna's
1999 Report on Form 10-K filed with the SEC, for a discussion of Aetna's results
of operations and financial condition.
