Press Release: June 6, 2000

WR Hambrecht + Co Initiates Coverage of (HLTH) with a Buy Rating and a Target of $30

Positioned well today but must prove it can cure healthcare’s inefficient, paper-intensive system

San Francisco, CA, June 6, 2000—WR Hambrecht + Co today initiated research coverage on Healtheon/WebMD (HLTH) with a buy rating and a price target of $30. WR Hambrecht + Co.’s eHealth analyst Josh Fisher cited Healtheon/WebMD’s dominant position in the sector, recent mergers and partnerships as key reasons for the rating. WR Hambrecht + Co offers all its research reports free and real-time at www.wrhambrecht.com.

"Healtheon/WebMD has done a tremendous job partnering and merging with a powerful list of companies, providing capital, leading-edge technology and access to hundreds of thousands of physicians. In addition, a recent WR Hambrecht survey showed that a majority of physicians were satisfied with WebMD Practice, its core service. However, in the near term, the Company needs to demonstrate its ability to integrate its many acquisitions and continue to grow the number of physician offices deployed and using its Internet services," Fisher said.

Fisher projects Healtheon/WebMD’s total revenues will reach $467 million in 2000 and $718 million in 2001, up from $102 million in 1999.

Healtheon/WebMD is an Internet healthcare company connecting physicians and consumers to the entire healthcare industry.