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Faulds Retires, Pankau and Others Promoted at BlueCross BlueShield

April 27, 2007

Columbia, S.C. -- After 35 years with BlueCross BlueShield of South Carolina, Thomas G. Faulds will retire as president of the company’s BlueCross BlueShield division, and David S. Pankau will be promoted to that position effective April 30.

In addition, Judith M. Davis will be promoted to executive vice president and will remain chief legal officer (CLO), and company chief information officer (CIO) Stephen K. Wiggins will be promoted to executive vice president. Duncan McIntosh will advance to become vice president and general counsel of the law department.

Faulds joined BlueCross BlueShield in 1972 and has served in key senior positions in government programs, information systems and operations. He is responsible for the company’s entry into the U.S. DOD TRICARE contractor market and for the company’s reputation for administrative service excellence. Since 1992, Faulds has led the BlueCross BlueShield division, the fundamental base of the diverse groups that make up BlueCross BlueShield of South Carolina and the Companion Group of companies.

"Without Tom Faulds’ intellect, dedication and contributions, we would not be the strong and vibrant company we are today," said BlueCross BlueShield CEO M. Edward Sellers. "We wish him well in retirement."

Prior to joining BlueCross BlueShield, Faulds served three tours in Vietnam and earned numerous medals and military honors. He holds an MBA from the University of South Carolina, and he graduated with honors from the U.S. Military Academy at West Point. He is a member of the boards of the University of South Carolina School of Business, UCI Medical Affiliates Inc. and the Palmetto Health Foundation. He is a past member of the State Chamber of Commerce, Richland Memorial Hospital Board, DHEC State Health Planning Committee, the Salvation Army Board, Midlands Technical College Foundation and the South Carolina Association of Independent Colleges. He also is an ad hoc faculty member of the University of South Carolina’s Business School and School of Medicine.

Pankau, who will oversee 3,000 employees in the BlueCross BlueShield division in his new position, joined BlueCross in 1993 after serving in the S.C. Health and Human Services Finance Commission as Medicaid program manager where he developed and managed reimbursement programs for special needs children. At BlueCross BlueShield, Pankau has worked as a manager for Medicare contracts and served as chief operating officer for Companion HealthCare (now BlueChoice® HealthPlan of South Carolina) before moving to his current position in the BlueCross BlueShield division as head of the major group department, which serves local and national accounts with more than 50 people. He also is president of two subsidiaries, Planned Administrators (PAI) and CIMR, and former president of subsidiary Companion Benefit Alternatives (CBA). He previously was on the boards of Benefit Focus and Companion Technologies, and he chaired the First Sun EAP board. Pankau holds a bachelor’s degree from Eastern Illinois University and a master’s degree from the University of South Carolina. He serves on the board of Junior Achievement of Central South Carolina, Inc.

Davis, currently vice president, will oversee executive management of subsidiary companies Companion Life Insurance Co. and Companion Property & Casualty Insurance Co., and corporate public affairs, communications, public relations and law departments. She came to BlueCross in 1995 from Lincoln National Corp. where she specialized in mergers and acquisitions. Davis graduated summa cum laude from Ohio Northern University and earned her law degree from Ohio State University. She serves as chairman of the board of the South Carolina Campaign to Prevent Teen Pregnancy, chairman of the 2006-2007 United Way Campaign of the Midlands of South Carolina and president-elect of the board of the United Way of the Midlands. She is former president of the board of Trinity Housing Corp.

Wiggins, currently senior vice president, oversees the company’s information systems department employing 1600 professionals providing technology services to all groups within the BlueCross BlueShield division and Companion Group of companies. Wiggins and his department have been essential to the growth and success of the companies in recent decades, including most recently the win of the Medicare Enterprise Data Center contract. Wiggins graduated with honors from Clemson University. Wiggins served on the S.C. Governor’s Commission on Management, Accountability and Performance (MAP).

McIntosh will assume daily management of the law department. He joined BlueCross BlueShield in 1994 as an associate general counsel after having practiced law for eight years with the Columbia law firm of Quinn, Patterson and McIntosh. A graduate of the College of Charleston, he received his law degree from the University of South Carolina. He serves on the board of the Columbia Museum of Art.

"Our company has been blessed with the most extraordinary, talented and stable senior management team in all of the Blue Cross and Blue Shield system. Faulds’ retirement is the first major change made in senior management in quite some time. With these changes, we are now poised to begin another new era of growth," said Sellers.

Headquartered in Columbia, S.C., BlueCross BlueShield of South Carolina and wholly-owned subsidiary BlueChoice HealthPlan of South Carolina are independent licensees of the Blue Cross and Blue Shield Association. BlueCross BlueShield of South Carolina and the Companion Group include more than 20 subsidiaries involved in health insurance services, U.S. DOD health plan and Medicare contracts, and other insurance and employee benefits.

BlueChoice is a registered mark of the Blue Cross and Blue Shield Association.

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