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WELLPOINT HEALTH NETWORKS ANNOUNCES TWO NEW DIRECTORS

 WOODLAND HILLS, Calif., April 27 /PRNewswire/ -- WellPoint Health Networks Inc., one of the nation's largest for-profit managed health care companies, has filled two vacancies on its board of directors.
 The directors of WellPoint appointed Roger E. Birk to serve on the board for one year and David R. Banks to serve for two years. Their appointments are effective April 26, 1993.
 Birk is the former chairman and chief executive officer of Merrill Lynch & Co. Inc., and was a director on the New York Stock Exchange for which he also served as vice-chairman in 1984-1985. Birk also served as president of Federal National Mortgage Association (Fannie Mae), having served in that capacity from 1987 through his retirement in February 1992. Before his election to Fannie Mae, Birk was chairman of the board of the International Securities Clearing Corp. He currently serves on the boards of directors of Fannie Mae, Mutual of America, New Jersey Resources Corp., and Penske Transportation Inc.
 Banks is currently chairman of the board of Beverly Enterprises, a long-term health care company. He has held this position since March 1990. Banks also serves as president, chief executive officer, and director. Prior to his appointment on the board of Beverly Enterprises, Banks served with the investment banking firm of Stephens Inc., and also as chairman of the board and chief executive officer of Leisure Lodges Inc. Banks currently serves on the boards of directors of Ralston-Purina Co., Wal-Mart Stores Inc., and Nationwide Health Properties Inc.
 "Our new directoship necessary to maintain our competitive position," says Leonard Schaeffer, chairman of the board and chief executive officer of WellPoint. "Each has an extensive business background that complements their ability to address health care issues and to provide improved services while building shareholder value."
 The one remaining vacancy on the WellPoint board will be filled as soon as practicable.
 WellPoint Health Networks Inc. filed a registration statement for an initial public offering with the Securities and Exchange Commission and successfully issued 19.5 million Class A Common Shares, which closed on Feb. 3, 1993. WellPoint currently has 99.5 million total common shares outstanding.
 WellPoint Health Networks Inc. is the largest for-profit managed health care company in California with 2.2 million members. The company offers a comprehensive array of managed care health plans through subsidiaries which provide health maintenance organization, preferred provider organization, and specialty managed health care networks.
 -0- 4/27/93
 /CONTACT: Larry Bryant, (media), 818-703-2473, or John Cygul, (investors), 818-703-4321, both of WellPoint Health Network/


CO: WellPoint Health Networks Inc. ST: California IN: HEA SU: PER

JB -- LA035 -- 1413 04/27/93 13:02 EDT
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Publication:PR Newswire
Date:Apr 27, 1993
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