CareFirst and WellPoint Evaluating Possible Revisions to Transaction.

Business Editors

THOUSAND OAKS, Calif. & OWINGS MILLS, Md.--(BUSINESS WIRE)-- Sept. 27, 2002

CareFirst, Inc. and WellPoint Health Networks Inc. (NYSE:WLP) have agreed to review their existing Agreement and Plan of Merger and related agreements in light of the issues that

If there are changes to the existing agreements, amended applications for approval will be filed with regulators in Maryland, Washington, D.C., and Delaware.

WellPoint and CareFirst have asked the regulators in Washington, D.C., and Maryland to continue their review of the merger. WellPoint intends to re-file its Form A application in Delaware.

CareFirst, an independent licensee of the Blue Cross and Blue Shield Association, is a not-for-profit health care company which, along with its affiliates and subsidiaries, offers a comprehensive portfolio of health insurance products, direct health care and administrative services to nearly 3.2 million individuals and groups in Northern Virginia, the District of Columbia, Maryland and Delaware.

WellPoint Health Networks Inc. serves the health care needs of more than 13 million medical members and approximately 45 million specialty members nationwide through Blue Cross of California, Blue Cross and Blue Shield of Georgia, Blue Cross and Blue Shield of Missouri, HealthLink and UNICARE. WellPoint offers a broad spectrum of quality network-based health products including open access PPO, POS and hybrid products, HMO and specialty products. Specialty products include pharmacy benefit management, dental, utilization management, vision, mental health, life and disability insurance, long term care insurance, flexible spending accounts, COBRA administration, and Medicare supplements.

Cautionary Statement: Certain statements contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results or events could differ materially due to, among other things, the companies' inability to negotiate mutually agreeable revisions to their existing Agreement and Plan of Merger, operational and other difficulties associated with integrating acquired business, general business conditions, competition among managed care companies, rising health care costs, trends in medical loss ratios, health care reform, delay in receipt of regulatory approvals and other developments with regard to pending transactions and other regulatory issues. Additional risk factors are listed from time to time in WellPoint's various SEC reports, including but not limited to, its Annual Report on Form 10-K/A for the year ended December 31, 2001.