Horizon Health Declares Two-for-One Split

Horizon Health Corporation (NASDAQ/NM:HORC) today
announced that the Horizon Board of Directors has approved a
two-for-one stock split to be effected in the form of a 100% stock
dividend. One additional share of common stock will be issued for each
outstanding share of common stock held by stockholders of record at
the close of business on May 31, 2005. The additional shares will be
distributed on June 15, 2005. Horizon currently has approximately 7.38
million shares of common stock outstanding.
   Horizon Health Corporation is a leading contract manager of
clinical services for acute care hospitals and employers and an owner
of behavioral health care facilities.
   The statements contained herein based on future expectations
rather than on historical facts are forward-looking statements as
defined under the Private Securities Litigation Reform Act of 1995
that involve a number of risks and uncertainties. Factors that could
cause actual results to differ materially from those in any such
forward-looking statements include, but are not limited to, the
ability to consummate additional acquisitions, the ability to
integrate the existing operations on a cost-effective basis, adverse
changes in reimbursement to psychiatric hospitals by federal and state
health care programs and other third-party payors and various other
risks as outlined in Horizon's Securities and Exchange Commission
filings. There can be no assurance that statements made in this press
release relating to future events will be achieved. The Company
undertakes no obligation to update or revise forward-looking
statements to reflect changed assumptions, the occurrence of
unanticipated events or changes to future operating results over time.