SIE Sierra Health Svcs

Sierra Health Services Inc. (NYSE: SIE) today announced that its board of directors has appointed William J. Raggio to the honorary position of director emeritus, for a period of one year. Consistent with the company's mandatory retirement policy for directors, Raggio retired from the board of directors at the conclusion of this year's annual meeting of stockholders. Raggio, 77, has been a member of Sierra's board of directors since its inception in 1984. He currently serves as the general counsel to the Archon Corp., and is a shareholder in the Las Vegas legal firm of Jones Vargas. Raggio has been a member of the Nevada Senate since 1972. He currently serves as Senate majority leader and chairman of the Senate Finance Committee. "Bill's contributions to the growth and profitability of Sierra have been invaluable," said Anthony M. Marlon, M.D., chairman, president and chief executive officer. "In his role on the board of directors, he has seen the company through its many incarnations, offering detailed insight and advice. He has been with us since the beginning, and I am delighted he will remain for another year in his capacity as director emeritus." Coinciding with Raggio's honorary appointment, Sierra's board of directors announced that, in accordance with the company's bylaws, the number of voting directors would be reduced from eight to seven. Sierra Health Services Inc., based in Las Vegas, is a diversified health care services company that operates health maintenance organizations, indemnity insurers, preferred provider organizations, prescription drug plans and multispecialty medical groups. Sierra's subsidiaries serve nearly 800,000 people through health benefit plans for employers, government programs and individuals. For more information, visit the company's Web site at www.sierrahealth.com.