CRVLE Corvel (MM)

IRVINE, Calif., Aug. 5 /PRNewswire-FirstCall/ -- CorVel Corporation (NASDAQ:CRVLE) today announced it received notification from the Listing Qualifications Hearings Department of the NASDAQ Stock Market that, with the filing on August 2, 2005 of CorVel's Annual Report on Form 10-K for the fiscal year ended March 31, 2005, CorVel has regained compliance with the NASDAQ listing requirements regarding delinquent filings. CorVel was informed that the "E" appended to its stock symbol will be removed as of the open of business on Tuesday, August 9, 2005. CorVel also reported that it intends to resume its existing stock repurchase plan. CorVel commenced its stock repurchase program in the Fall of 1996. Since that time, through the quarter ended June 30, 2005, the Company has spent approximately $120 million to repurchase approximately 6.5 million shares, equal to approximately 40% of its outstanding common stock. These purchases have been funded primarily from CorVel's net earnings. CorVel had approximately 9.9 million shares outstanding, net of treasury shares, as of June 30, 2005. CorVel Corporation is an independent, nationwide provider of managed care services in the worker's compensation, group health and auto insurance markets. CorVel provides services to employers, government entities, insurance companies and third party administrators. In addition to CorVel's networks of preferred providers, its offices deliver case management, utilization management, independent medical evaluations, medical bill review and disability management programs. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on the Company's current expectations, estimates and projections about the Company, management's beliefs, and certain assumptions made by the Company. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "likely," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause the Company's actual results to differ materially and adversely from those expressed in any forward-looking statement. The risks and uncertainties referred to above include, but are not limited to, risks relating to the Company's resumption of its stock repurchase plan as indicated and other factors described in this release and the Company's filings with the Securities and Exchange Commission, including "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended March 31, 2005. The forward-looking statements in this release speak only as of the date they are made. The Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason. DATASOURCE: CorVel Corporation CONTACT: Richard Schweppe of CorVel Corporation, +1-949-851-1473 Web site: http://www.corvel.com/

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