NEWS RELEASE
Office of Maryland Attorney General J. Joseph Curran, Jr.


March 7, 2002 Media Inquiries: Sean Caine 410-576-6357

CURRAN RESPONDS TO DISCLOSURE OF
COMPENSATION PACKAGES FOR CAREFIRST EXECS

Attorney General J. Joseph Curran, Jr., reacted to the disclosure of compensation packages for CareFirst executives contained in documents filed with the Insurance Commissioner today. "What this proves is that the insiders who are negotiating this merger will be well taken care of. As the Attorney General, what I am concerned about is whether this is good for Marylanders and our healthcare system," Curran said.

Pre-filed testimony produced by CareFirst indicates that executives stand to receive $42 million if the acquisition by WellPoint is approved. William Jews, CareFirst President & CEO, would get the lion’s share, including a $9.1 million bonus, and a $18.6 million golden parachute in the event Jews leaves the company. Jews currently makes about $2 million.

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