Cobalt Sells Innovative Resource Group to APS Healthcare, Inc.

April 15, 2002

Cobalt Sells Innovative Resource Group to APS Healthcare, Inc.

Cobalt Corporation announced on April 1, 2002, it has sold Innovative Resource Group, a wholly owned subsidiary of Cobalt Corporation, to APS Healthcare Bethesda, Inc. a wholly owned subsidiary of APS Healthcare, Inc. The transaction affects current operations in Wisconsin, Texas, Florida, Michigan and Arizona.

Innovative Resource Group, a healthcare management company specializing in behavioral health, medical and workers’ compensation consulting, care management and administrative services, is headquartered in Waukesha, Wis. Innovative Resource Group serves 2 million lives in 49 states.