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WellPoint may lose $214M on Fannie, Freddie

September 11, 2008

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WellPoint Inc. expects to lose $214 million of its $243 million in investments in troubled housing lenders Fannie Mae and Freddie Mac, the Indianapolis-based health insurer disclosed yesterday.

WellPoint said it would take a charge for the losses in the third quarter, but that the total figure is difficult to predict considering the volatility of the mortgage lenders.

The company reaffirmed its profit guidance of $5.42 to $5.57 per share in 2008.

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