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Triple-S Management Corporation Reports 2008 Results at High End of Guidance Range
Date:2/19/2009

87.6% 88.8% Reform 87.7% 89.0% 90.6% 89.0% Medicare 84.8% 87.4% 89.7% 79.7% Operating expense ratio 10.9% 12.0% 10.5% 11.2% Managed Care As of December 31, Membership by Segment 2008 2007 Members Commercial: Fully-insured 417,685 412,663 Self-funded 175,038 161,588 Total Commercial 592,723 574,251 Reform Fully-insured 337,960 353,694 Self-funded 189,487 - Total Reform 527,447 353,694 Medicare Medicare Advantage 65,243 38,070 PDP 10,037 11,175 Total Medicare 75,280 49,245 Total members 1,195,450 977,190 Managed Care As of Days claims payable Dec. 31, 2008 Dec. 31, 2007 57.3 days 64.9 days

Share Repurchase and Share Conversion Update

In October 2008, the Company's Board of Directors authorized the repurchase of $40 million of its common shares. Triple-S repurchased approximately 1.2 million Class B shares at an average price of $11.75 in December utilizing cash on hand. The repurchase was conducted in accordance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended. From January 1 to February 13, 2009, the Company repurchased an additional
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