HARTFORD, Conn.--(BUSINESS WIRE)--June 15, 2005--Aetna (NYSE:AET) and Rite Aid Corporation (NYSE, PCX:RAD) today announced they intend to form a strategic alliance to help Medicare beneficiaries understand and take advantage of the new Medicare prescription drug program that will be effective next January. In the fall, Aetna and Rite Aid plan to begin educating Medicare beneficiaries about the program to help them make better, more informed decisions. In addition, the two companies plan to provide prescription safety and health and wellness information to consumers through in-store and community events.

The new Medicare Part D Prescription Drug Plans offer Medicare beneficiaries an unprecedented level of support to help meet their prescription drug needs. Because this is a new program, beneficiaries will have many questions about their options. The Aetna and Rite Aid alliance would help answer those questions in neighborhood pharmacies and at local community events, where many beneficiaries are likely to turn for information.

"Aetna will make available to Medicare-eligible consumers simple and straightforward information to help them choose a plan and meet their ongoing prescription drug needs," said Ron Williams, president of Aetna. "By joining forces with Rite Aid, one of the largest retail pharmacies in the country, we can offer Medicare beneficiaries information and helpful programs in their local communities."

"We are very excited to partner with an organization like Aetna, which has national reach and broad experience with Medicare programs," said Mary Sammons, Rite Aid's president and CEO. "We believe an alliance with Aetna would help attract new senior customers to Rite Aid as they learn more about the value of the Medicare drug benefit and more about Rite Aid's services and programs, including our very successful 'Living More' discount and benefit program for seniors."

The joint outreach programs would include informational sessions in local communities to help Medicare beneficiaries understand the Medicare Modernization Act, the Prescription Drug Plan, and the new benefits and services available to them through Aetna and Rite Aid. In addition to community outreach, senior consumers would be provided information in stores about Aetna's Prescription Drug Plan options as well as specific patient safety and wellness programs designed by Aetna in conjunction with Rite Aid.

Details of the programs that Aetna and Rite Aid plan to create for Medicare beneficiaries will be available after the Centers for Medicare & Medicaid Services issues guidance on such alliances. Aetna filed an application to provide Part D plans to individuals and employers in all regions designated by CMS, except the territories. Plan bids were filed on June 6, 2005. CMS expects to award contracts in early September and CMS approved Part D drug plans will take effect January 1, 2006.

As one of the nation's leading providers of health care, dental, pharmacy, group life, disability and long-term care benefits, Aetna puts information and helpful resources to work for its approximately 14.4 million medical members, 12.8 million dental members, 9.0 million pharmacy members and 14.0 million group insurance members to help them make better informed decisions about their health care and protect their finances against health-related risks. Aetna provides easy access to cost-effective health care through a nationwide network of more than 672,000 health care professionals, including approximately 400,000 primary care and specialist doctors and 4,084 hospitals. For more information, please visit www.Aetna.com. (Figures as of March 31, 2005)

Rite Aid Corporation is one of the nation's leading drugstore chains with annual revenues of $16.8 billion and approximately 3,400 stores in 28 states and the District of Columbia. Information about Rite Aid, including corporate background and press releases, is available through the company's website at www.riteaid.com

CONTACT:
Aetna
Media Contacts:
Jon Sandberg, 860-273-8145
sandbergj@aetna.com

Christine Erb, 215-775-0409
erbc@aetna.com

Investor Contact:
David W. Entrekin, 860-273-7830
entrekind@aetna.com

Rite Aid
Karen Rugen, 717-730-7766