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HealthEquity Receives Investment From Berkley Capital Investors, L.P.

November 28, 2006
Salt Lake City, UT


HealthEquity®, Inc., an innovator in administrating health savings and reimbursement accounts and providing services to help employees manage the financial side of health care, announced that it has received a minority investment from Berkley Capital Investors, L.P., a subsidiary of W. R. Berkley Corporation (NYSE: BER). As HealthEquity continues to add clients and introduce additions to its product offering, this financing will be used to support the company’s growth.

“After careful consideration among a number of quality potential investors, we are very excited to add Berkley Capital to the HealthEquity family,” states Stephen Neeleman, MD, CEO of HealthEquity. “We believe that Berkley Capital will be an excellent resource to help us scale our business and to allow us to expand our services to our employer and health plan customers and our consumer clients.”

“We view HealthEquity as a leader in consumer driven health care. We invested in HealthEquity because we believe this is an excellent investment opportunity,” remarked Bill Berkley, Chairman and CEO of W.R. Berkley Corporation.

Portico Capital Securities of Greenwich, CT advised HealthEquity on the transaction.

HealthEquity provides industry-leading health care financial services for more than 1,800 employers, health plans, TPAs, and financial institutions throughout the country. HealthEquity’s integrated service offering allows consumers to combine their health plan claims and plan information with personal banking solutions.

In addition, HealthEquity offers a full-suite of health care financial service tools that help clients become more engaged consumers, finding quality care at the best prices. HealthEquity’s financial service platform includes an FDIC insured depository account, an HSA debit card, online bill payment, optional credit, 24/7 customer service, including a nurse hotline, self-diagnosis tools, an online medical encyclopedia, a treatment cost estimator, Rx generics and pricing information, and a hospital quality and cost comparison tool.

About HealthEquity®, Inc.
HealthEquity is a consumer-focused health care services company that enables health insurers, benefits administrators, employers, and financial institutions to provide employees and consumers with a personal savings and payment account integrated into their health plan’s claims platform. Additionally, HealthEquity provides 24/7 personal advisory services to help consumers better save and spend their health care dollars. To learn more about HealthEquity, please visit http://www.healthequity.com.

About W.R. Berkley Corporation
Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates in five segments of the property casualty insurance business: specialty insurance, regional property casualty insurance, alternative markets, reinsurance, and international.