Charsky Announces Retirement from LifePlans; Cohen Named President

David M. Holland

WALTHAM, MASSACHUSETTS, March 3, 2003—LifePlans, Inc. today said that Don Charsky FSA announced his retirement from the Company effective March 31, 2003. He will be succeeded as President and COO by Marc Cohen Ph.D., who will report to LifePlans Board Chairman and CEO David Holland FSA.

“In some respects it is overwhelming all that was accomplished by our many dedicated employees over my twelve years as LifePlans’ President,” said Charsky. “LifePlans has grown from a little known LTC insurance services provider to the market leader. We have also contributed in countless ways to the growth and development of the LTC insurance market.”

Charsky joined LifePlans in October of 1990. During his tenure as President, revenue expanded over 20 fold as the Company introduced new products and services to help insurers successfully capitalize on the emerging LTC insurance market. The company has also recently expanded operations to serve international LTC markets as well as other senior insurance risks.

“We are extremely fortunate to have a qualified new president coming from our own ranks,” said Holland. “Marc has been with LifePlans since its inception over 15 years ago and is well known and respected by our customers. He is known throughout the industry as an expert on Long-Term Care. We are also fortunate that Don will be continuing on LifePlans’ Board and will help with the transition. I have high expectations for the Company going forward.”

LifePlans is the leading provider of outsourced services to LTC insurers. LifePlans has operated as a subsidiary of Munich American Reassurance Company (MARC) since November 1998. MARC is a wholly owned subsidiary of the Munich Re Group, which is headquartered in Munich, Germany and is the largest reinsurer in the world. Munich American and its clients are beneficiaries of this worldwide expertise.

For further information, please visit LifePlans’ Web site at www.lifeplansinc.com.

LifePlans, Inc.