1. Patricia E. Scipio, CIA, CPA Vice President, Auditing Wellchoice, Inc. Empire Blue Cross Blue Shield

2. WellChoice, Inc. Parent Company of Empire Blue Cross Blue Shield Largest Health Insurance Company in New York Serves over 4.6 Million Members Began Trading on New York Stock Exchange on 11/8/02 #1 Market Share & Largest Provider Network in Metro NYC Revenues of $4.6 Billion in 2001 Highest Physician Auto-adjudication Rates Industry-wide Approximately 5,700 Employees

3. WellChoice, Inc. - Corporate Audit VP Auditing Reports Functionally to Chairman of the Board, Administratively to Chief Executive Officer 3 Groups –Corporate Performance –Customer Audit Services –Internal Audit Services Internal Audit Services Outsourced Coordinates with External Auditors

4. Disclosure Controls & Procedures Form a Disclosure Review Committee Obtain Meaningful Input from Outside Experts Evaluate Disclosure Controls & Procedures Read the Reports Review with Audit Committee Document Actions Taken Address Problems Promptly

5. Disclosure Review Committee Under the Supervision of the CEO & CFO Membership –Principal Accounting Officer or Controller –General Counsel or Other Senior Legal Official –Principal Risk Management Officer –Chief Investor Relations Officer Responsibilities & Procedures –Confirm Adherence to Policies & Procedures –Review SEC Rules –Implement Sub-certification Process –Review SEC Filings and Other Documents for Accuracy and Completeness

6. Internal Auditing’s Role Ex Officio Member of Disclosure Review Committee Review and Evaluate Disclosure Controls & Procedures Review all SEC Filings & Other Documents Coordinate Internal Control Reporting under Section 404