CorVel Corporation Announces Resumption of Stock R... ( IRVINE Calif. Nov. 19 /- CorVel C...)

CorVel Corporation Announces Resumption of Stock Repurchases

Date:11/19/2007

IRVINE, Calif., Nov. 19 /PRNewswire-FirstCall/ -- CorVel Corporation (Nasdaq: CRVL) today announced its decision to resume repurchasing shares of its common stock under the stock repurchase program previously approved by the Company's Board of Directors. In June 2006, the Board had approved a 1,500,000 share expansion to this repurchase program. Through September 30, 2007, the Company has repurchased 862,323 shares, with a remaining 637,677 shares that may be repurchased from time to time in the future under the expanded authorization.

The Board's approval of the share repurchase program reflects its confidence in the continued growth of CorVel's business and an ongoing commitment to increase shareholder value. With over $9 million in cash, the Company has maintained a strong balance sheet and feels confident that this program will allow CorVel to further pursue strategic opportunities for growth.

The stock repurchase authorization does not have an expiration date and the Company believes that the pace of repurchase activity will depend on a variety of factors, such as levels of cash generation from operations, cash requirements for any future acquisition opportunities and other factors. CorVel may repurchase shares from time to time and the stock repurchase program may be modified or discontinued at any time.

About CorVel

CorVel Corporation (http://www.corvel.com/) is a national provider of leading-edge services and solutions in the field of managed healthcare. CorVel specializes in applying information technology and e-commerce applications to improve healthcare management in the workers' compensation, group health, auto and disability manage
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CorVel Corporation Announces Resumption of Stock R...( IRVINE Calif. Nov. 19 /- CorVel C...),Health