Wellpoint Locks Up Cobalt Merger

September 25, 2003 (PLANSPONSOR.com) - WellPoint Health Networks Inc., the nation's second largest health insurer, has completed its merger with Cobalt Corp., the companies announced.

Under the June 2003 Merger Agreement, Cobalt stockholders will get $10.25 in cash and 0.1233 shares of WellPoint stock for each of their Cobalt shares, according to a news release.

With the completion of the merger, Blue Cross & Blue Shield United of Wisconsin will continue to be headquartered in the state. In addition, Milwaukee will be the national headquarters for WellPoint’s Medicare Part A claim processing business, the companies said.

WellPoint Health Networks Inc. serves 14 million medical members and approximately 50 million specialty members nationwide through Blue Cross of California, Blue Cross and Blue Shield of Georgia, Blue Cross and Blue Shield of Missouri, Blue Cross & Blue Shield United of Wisconsin, HealthLink and UNICARE.

For more information, got to www.wellpoint.com .