ST. LOUIS--(BUSINESS WIRE)--Aug. 7, 2003--Centene Corporation (Nasdaq: CNTE) today announced the pricing of its previously announced public offering of 3,000,000 shares of common stock at a price of $25.00 per share. The underwriters have a 30-day option to purchase up to an additional 450,000 shares of common stock from Centene solely to cover over-allotments, if any.

The shares are offered through underwriters led by Lehman Brothers Inc., SG Cowen Securities Corporation, Thomas Weisel Partners LLC and Stifel, Nicolaus & Company, Incorporated.

Centene intends to use the net proceeds of the offering for working capital and other general corporate purposes, which may include acquisitions.

Centene provides managed care programs and related services to individuals receiving benefits under Medicaid, including Supplemental Security Income (SSI), and the State Children's Health Insurance Program (SCHIP). Centene operates health plans in Wisconsin, Texas, Indiana and New Jersey.

Copies of the final prospectus may be obtained from Lehman Brothers Inc., 745 7th Avenue, New York, New York 10019 (212/526-7000), SG Cowen Securities Corporation through ADP, 1155 Long Island Avenue, Edgewood, New York 11717 (631/254-7106), Thomas Weisel Partners LLC, 390 Park Avenue, New York, New York 10022 (212/271-3700) or Stifel, Nicolaus & Company, Incorporated, 501 North Broadway, St. Louis, Missouri 63102 (314/342-2000).

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be a sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

CONTACT: Centene Corporation
Karey L. Witty, 314-725-4477
or
Investor Relations:
Lisa M. Wilson, 212-759-3929

SOURCE: Centene Corporation