AMERIGROUP Corporation Appoints New CFO

VIRGINIA BEACH, Va., Oct. 28 /PRNewswire-FirstCall/ -- AMERIGROUP Corporation announced today that E. Paul Dunn Jr. has been named executive vice president and chief financial officer of the company, effective November 8, 2004. Additionally, the company reported the appointment of Janet M. Brashear as executive vice president, strategic planning.

E. Paul Dunn Jr.

Dunn is a certified public accountant with 24 years' experience in senior finance and accounting positions. In addition, he holds separate masters degrees in business administration and history from the University of Virginia.

Since 1998, Dunn has served as vice president of finance and treasurer for IMC Global Inc, a worldwide chemical manufacturer with $2 billion in revenue based in Chicago. Previously, he spent seven years at GATX Corporation, a $6- billion leasing and financial services company, where he served as chief financial officer of GATX Terminals Company following five years as treasurer.

Dunn's corporate finance career also includes experience with The Hertz Corporation and W.R. Grace and Company. He has worked extensively in the disciplines of finance, capital budgeting, treasury, mergers and acquisitions, and equity financing.

"Paul has a track record of skillfully managing costs in complex, multi- billion-dollar businesses," said Jeffrey L. McWaters, chairman and chief executive officer. "He has helped integrate disparate business units, bringing them together to function effectively. Paul's financial acumen and wealth of experience will be a tremendous addition to our management team."

"I am excited to join AMERIGROUP," Dunn said. "The company has successfully pursued a unique mission and has established a track record of consistent, strategic growth. I'm pleased to have the opportunity to build on these achievements."

Janet M. Brashear

AMERIGROUP also announced that Janet M. Brashear has been named executive vice president, strategic planning. She will lead the company's long-term and annual business planning, branding strategy, organizational effectiveness and operational improvement initiatives.

Brashear has more than two decades' experience in strategic planning and marketing. Most recently, she served as executive vice president of strategic planning at Marriott International, where she served in senior positions for ten years. In this capacity, she focused on Marriott's new business development and acquisitions and was also responsible for certain operations. She had previously worked with Procter and Gamble Corporation.

An alumna of the College of William and Mary and the Harvard Graduate School of Business Administration, Brashear has been appointed by Virginia's Governor as a member of the Board of Visitors at the College of William & Mary.

"We are fortunate to have Janet's strategic planning and branding expertise at this juncture in our company's development," McWaters said. "Her work in long-range planning, acquisitions and branding is a perfect fit for AMERIGROUP. She will be a very valuable part of our management team."

AMERIGROUP Corporation, headquartered in Virginia Beach, Virginia, is a multi-state managed healthcare company focused on serving people who receive healthcare benefits through publicly sponsored programs including Medicaid, State Children's Health Insurance Program, and FamilyCare. The Company operates in Texas, New Jersey, Maryland, Illinois, Florida and the District of Columbia. Visit http://www.amerigroupcorp.com/ for more information.

CONTACT: Investors: Julie Loftus Trudell, Vice President, Investor Relations, +1-757-321-3535, or News Media: Kent Jenkins, Vice President, Communications, +1-757-518-3671.

AMERIGROUP Corporation

CONTACT: Investors: Julie Loftus Trudell, Vice President, InvestorRelations, +1-757-321-3535, or News Media: Kent Jenkins, Vice President,Communications, +1-757-518-3671

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