UnumProvident Corporation and EmployeeLife.com Transaction Completed; New Subsidiary to Enhance Customer Service With Web-Based Solutions

Apr 03, 2001, 01:00 ET from UnumProvident Corporation

    CHATTANOOGA, Tenn., April 3 /PRNewswire/ -- UnumProvident Corporation
 (NYSE:   UNM) announced today that it has closed on the transaction to purchase
 the assets of EmployeeLife.com, an Internet Capital Group (Nasdaq: ICGE)
 partner company located in Mountain View, California.
     EmployeeLife.com provides Internet business solutions to help employers
 efficiently manage and administer employee benefits.  This acquisition will
 aid the subsidiaries of UnumProvident in meeting the growing demands of
 employers, providing a higher level of service through improved technology.
 EmployeeLife.com will operate independently but will work closely with other
 UnumProvident subsidiaries to complement their offerings with automated
 benefits enrollment and administration services.
 
     About EmployeeLife
     EmployeeLife provides web-centric benefits services that bring new
 efficiencies to employers, brokers and insurers by integrating the management
 and administration of employee benefits.  EmployeeLife's products and services
 are uniquely positioned to satisfy the administrative and service needs of
 growing organizations.  These solutions were developed by a team with deep
 benefits expertise.  EmployeeLife's products combine advanced functionality
 with technology that can scale to millions of employees, brokers and insurers.
 EmployeeLife is headquartered in Mountain View, California, with offices
 nationwide.  For more information about EmployeeLife, visit the company's Web
 site at www.employeelife.com.
 
     About UnumProvident
     The subsidiaries of UnumProvident Corporation offer a comprehensive,
 integrated portfolio of products and services backed by industry-leading
 return-to-work resources and disability expertise.  UnumProvident is the world
 leader in protecting income and lifestyles through its comprehensive offering
 of group, individual, and voluntary benefits products and services.
 UnumProvident has operations in the United States, Canada, the U.K., Japan,
 and elsewhere around the world.
 
 

SOURCE UnumProvident Corporation
    CHATTANOOGA, Tenn., April 3 /PRNewswire/ -- UnumProvident Corporation
 (NYSE:   UNM) announced today that it has closed on the transaction to purchase
 the assets of EmployeeLife.com, an Internet Capital Group (Nasdaq: ICGE)
 partner company located in Mountain View, California.
     EmployeeLife.com provides Internet business solutions to help employers
 efficiently manage and administer employee benefits.  This acquisition will
 aid the subsidiaries of UnumProvident in meeting the growing demands of
 employers, providing a higher level of service through improved technology.
 EmployeeLife.com will operate independently but will work closely with other
 UnumProvident subsidiaries to complement their offerings with automated
 benefits enrollment and administration services.
 
     About EmployeeLife
     EmployeeLife provides web-centric benefits services that bring new
 efficiencies to employers, brokers and insurers by integrating the management
 and administration of employee benefits.  EmployeeLife's products and services
 are uniquely positioned to satisfy the administrative and service needs of
 growing organizations.  These solutions were developed by a team with deep
 benefits expertise.  EmployeeLife's products combine advanced functionality
 with technology that can scale to millions of employees, brokers and insurers.
 EmployeeLife is headquartered in Mountain View, California, with offices
 nationwide.  For more information about EmployeeLife, visit the company's Web
 site at www.employeelife.com.
 
     About UnumProvident
     The subsidiaries of UnumProvident Corporation offer a comprehensive,
 integrated portfolio of products and services backed by industry-leading
 return-to-work resources and disability expertise.  UnumProvident is the world
 leader in protecting income and lifestyles through its comprehensive offering
 of group, individual, and voluntary benefits products and services.
 UnumProvident has operations in the United States, Canada, the U.K., Japan,
 and elsewhere around the world.
 
 SOURCE  UnumProvident Corporation