AICPA Announces Blue Cross & Blue Shield of Wisconsin Meets WebTrust Standards for Online Privacy Protection After Examination by Ernst & Young LLP

Business Wire, Sept 5, 2001

Business Editors

NEW YORK--(BUSINESS WIRE)--Sept. 5, 2001

"Buy Online/Get a Quote" and "Need Customer Service?" Areas of Site

Protect Customers' Private Information

The American Institute of Certified Public Accountants (AICPA) announced today that Blue Cross & Blue Shield of Wisconsin, a wholly owned subsidiary of Cobalt Corporation, has met the WebTrust standards for online privacy protection for the "Buy Online/Get a Quote" and "Need Customer Service?" areas on its site, www.bluecrosswisconsin.com.

As the result of a thorough examination of Blue Cross and Blue Shield of Wisconsin's Web site policies and controls relating to protection of private information, the professional services firm of Ernst & Young LLP awarded the first seal issued to a U.S. health insurance provider under the WebTrust Program for Online Privacy.

"We know how sensitive our Blue Cross & Blue Shield of Wisconsin customers and potential customers are about their private information, particularly in an online environment," said Cathy Harvey, Senior Vice President of Marketing for Cobalt Corporation. "We wanted to show them that we take their concerns very seriously. The rigorous standards of the WebTrust Online Privacy Program help us set the benchmark in the health insurance industry for protection of private information."

"The WebTrust Program for Online Privacy sets the standard for privacy best practices on the Internet," said Jeffrey Bilek, Technology and Risk Services Partner at Ernst & Young. "This program is a benchmark for leading companies to prove they are doing what they say they are doing in their privacy policies."

"Unlike privacy programs that only require companies to promise that they adhere to online privacy best practices, the WebTrust Program for Online Privacy involves a consultative process with a CPA that includes regular testing and verification of a site's policies, procedures, disclosures, technology and infrastructure to provide assurance that private information is being collected, maintained and distributed in a protected and secure manner," said Anthony Pugliese, Vice President of Member Innovation at the AICPA.

The WebTrust Program for Online Privacy is a comprehensive, e-business privacy solution that protects e-commerce users by enabling online businesses to continuously comply with, and verify adherence to, all significant international privacy laws, regulations and standards. The WebTrust Program provides businesses with a built-in tool to respond to and help resolve customer concerns about privacy matters. The WebTrust Online Privacy Seal is evidence that the site has met all of the WebTrust privacy criteria and has been independently verified by a CPA firm.

As a global service, WebTrust continuously monitors and incorporates privacy regulations and procedures, thereby helping businesses understand and comply with international laws or regulations. The WebTrust Program for Online Privacy complies with significant privacy guidelines and regulations of the Organisation for Economic Co-operation and Development (OECD), the European Union (EU), the Global Business Dialogue for E-commerce (GBDe) and other significant guidelines in Canada and the United States.

"Online privacy protection can't be solved merely by technology, software or promises," added Pugliese. "WebTrust blends the best technology tools with a comprehensive, online privacy examination to provide a complete privacy solution. CPAs educate business owners about global privacy and security regulations and guidelines, train Web businesses to avoid many of the pitfalls of e-business, and bring their solid, independent audit and technology skills to the Internet to help e-commerce reach its full potential."

About Cobalt Corporation/Blue Cross & Blue Shield of Wisconsin

Cobalt Corporation is one of the leading, publicly traded managed care companies in the nation, offering a diverse portfolio of complementary insurance and managed care products to employer, individual, insurer and government customers. Headquartered in Milwaukee and formed by the combination of Blue Cross & Blue Shield United of Wisconsin and United Wisconsin Services, Inc., Cobalt Corporation (NYSE:CBZ) serves 2.8 million lives in 50 states. For more information, visit our website at www.cobaltcorporation.com.

About the AICPA

The American Institute of Certified Public Accountants (AICPA) is the ISO 9001 certified national professional organization of CPAs in the United States with more than 340,000 members in public practice, business and industry, government, and education. For more information about WebTrust, please visit www.webtrust.org.