Insurance - Press Release - Blue Cross/Anthem

February 2, 2000

FOR IMMEDIATE RELEASE

Contact:Eric Cioppa, Deputy Superintendent

Tel:(207) 624-8426

PRESS RELEASE

Maine Superintendent of Insurance Announces Rescheduled Orono Public Comment Session
For Proposed Blue Cross/Anthem Conversion and Acquisition

Augusta, Maine: Superintendent of Insurance Alessandro A. Iuppa today announced the rescheduled time for the evening Orono public hearing concerning the proposed conversion of Blue Cross and Blue Shield from a non-profit entity and its subsequent proposed acquisition by Anthem Insurance Companies, Inc. The afternoon session in Orono from 1:00 p.m. to 4:00 p.m. was held on January 25, however, the evening session was canceled due to a severe winter storm. The following is the rescheduled time and location for the Orono hearing:

RESCHEDULED PUBLIC COMMENT SESSION
Date	Time	Location
February 8, 2000	5:00 p.m. to 8:00 p.m.	In Orono at the University of Maine at Orono - Wells Conference Center.

Members of the public are encouraged to provide testimony at the public hearing. Persons who speak during the public comment session of the hearing may either make an unsworn statement or may testify under oath. Members of the public who testify under oath are subject to cross-examination by the parties to the hearing. Members of the public may also speak without being sworn in. Only comments presented under oath may be used as evidence by the Superintendent of Insurance to make his final decision concerning the proposed transaction.

The proceeding will continue with both Blue Cross and Blue Shield and Anthem presenting witnesses at a hearing scheduled on April 3, 2000 at 9:00 A.M. in the Central Conference Room at the offices of the Bureau of Insurance, 124 Northern Avenue, Gardiner Maine. If the Superintendent determines it is necessary, additional hearing days will be scheduled. Although there will be no public comment session at the April 3^rd hearing, members of the public are invited to attend.

Formal documents such as the Procedural Order, which outlines the requirements of the hearing process, and other general consumer information concerning the proposed transaction can be found on the Bureau of Insurance web site at MaineInsuranceReg.Org.

The Bureau of Insurance is part of the Department of Professional and Financial Regulation which encourages sound ethical business practices through high quality, impartial and efficient regulation of insurers, financial institutions, creditors, investment providers, and numerous professions and occupations for the purpose of protecting the citizens of Maine.

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