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Lumenos(R) Secures $26.9 Million in Funding, Completing Its Series B-1
Investment Signals Continued Confidence in Company Progress and Growth

ALEXANDRIA, VA -- (MARKET WIRE) -- 04/07/2004 -- Lumenos (, a leader in consumer-driven health care, announced today that it has received a total of $26.9 million in funding, completing its Series B-1 financing. The significant funding shows continued confidence in the Company's performance and in the consumer- driven health care industry.

"Our investors recognize the progress we're making in building a health care system that puts consumers in control of their health care dollars and decisions," said Chip Tooke, president and CEO of Lumenos. "By funding our continued growth, our shareholders will help make our vision of health care a successful reality," added Tooke.

"From my perspective as an investor, Lumenos possesses all the key attributes of a sound and promising investment: a cutting-edge approach to health care coverage endorsed by the President of the United States, a sound business philosophy and a product that is receiving more and more positive attention as the nation learns about the Lumenos products," said Michael Kluger, a founding partner of both Liberty Partners, a $1.4 billion firm and of AIG/Altair Health Partners, a $400 million firm.

Building on the momentum of Lumenos' performance in 2003, the Company expects continued success in 2004. Future plans include enhancing Lumenos' existing Health Reimbursement Account (HRA) program and the Company's new Health Savings Account (HSA) product. Lumenos also plans to expand existing health improvement programs to ensure the Company's products improve health care by improving health outcomes for its valued customers.

"Our overall enrollment now exceeds 140,000 consumers and the range and variety of our growing client base continues to expand," said Tooke of the Company's anticipated progress. "In addition, consumer-driven health care is on the rise throughout the country. More than 2.7 million Americans are expected to be covered by some form of consumer- driven product by 2005. As more and more individuals search for answers to our nation's health care crisis, we'll be ready with a serious and viable solution."

About Lumenos

Lumenos´┐Ż, based in Alexandria, Va., is an award- winning, industry leader in the field of consumer-driven health care. The Company's mission is to engage consumers in their health care by giving them control of routine health decisions and dollars and the tools to make wise and informed decisions about their care. An engaged and knowledgeable consumer is the best long-term solution to current health care industry challenges. Available to self-funded companies, the Lumenos Heath Reimbursement Account (HRA) product allows employers to make an annual allocation to each employee's HRA. Participating employees can use these dollars on prescriptions, routine and most other health care expenses. Unspent dollars can be rolled over year after year and accumulate in employees' HRAs for future health care needs. Lumenos also provides an array of health improvement support programs (both high tech and high touch) to help consumers reach sound decisions. A growing number of Fortune 500 companies representing the retail, pharmaceutical, technology and manufacturing industries offer the Lumenos HRA product to employees. The Company has also been recognized over the years by receiving the prestigious Best Web Site for Consumer Health Care Information Award and the Best Health Plan Initiative for Consumer-Driven Health Care Award in 2004, and the Make a Difference Best of Show Award, the E-Healthbeat Award for Outstanding Web Site and TETHIE Award for Most Innovative Use of Technology Promoting Wellness in 2003. In addition, for individuals and fully-insured employers, Lumenos offers a Health Savings Account (HSA) program through its wholly-owned subsidiary, MSAver. For more information on MSAver, please visit For more information on Lumenos, please visit

Mary Angela Shannon
[email protected]
(703) 236-6312

Danny Maiello
[email protected]
(202) 828-8899

KBL Healthcare Ventures
757 Third Avenue, 21st Floor
New York, NY 10017
(212) 319-5555

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