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Governor Gregoire's Trade Missions Continue to Benefit Washington Companies (Remarks As Written)

For Immediate Release: February 5, 2007

OLYMPIA - Governor Gregoire today at her weekly media availability announced that Premera Blue Cross has formed a new company with Blue Cross of Idaho and WellPoint of Indianapolis to bring their combined expertise and best practices to China.

Governor Gregoire:

"I have always said that promoting Washington products and services through overseas trade missions is an important and effective way to build on the global competitiveness of Washington.

"Today, we can see just how effective these trade missions can be. In October 2005, I invited representatives of several WA industries to join me on a trade mission to China. One of those companies was Premera Blue Cross.

"Because of what they learned on that trip, Premera decided to form a joint venture with other Blue Cross Blue Shield plans to bring their combined expertise and best practices to China.

"I am excited to announce that I recently received word that this new company has just been formed.

"It is called WPMI, LLC and it will be headquartered in Seattle, with local operations in Shanghai. Besides Premera, the joint venture partners include Blue Cross of Idaho and WellPoint, based in Indianapolis

"The Seattle headquarters is expected to employ about 15 people in the first couple of years. It will serve as the U.S. hub for this partnership of companies.

"The new venture is modest but strategic - it meets an existing need in China.

"It also establishes a foothold for the future in a growing market - serving not only Chinese companies but also an increasing number of companies from Washington and around the U.S. that are establishing operations in the worlds most populous country.

"This new China venture builds on the existing strength of Washington in other industries and diversifies our states and the United States� trade relations with China by building on these strengths."

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