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

634,150 shares at an average price of $12.62. Triple-S continues to have approximately $18 million earmarked for share repurchases under its current Board authorization. Approximately seven million Class A shares were also converted into Class B shares during the fourth quarter. It should be noted that approximately nine million Class A shares remain outstanding and will not be converted to Class B shares until the earlier of the date that all potential claims specified in our certificate of incorporation are resolved or five years from the date of our initial public offering (December 6, 2012). In either case, the Board of Directors must approve the conversion of the remaining Class A shares. As a reminder, Class A shares do not trade on a public market.



    2009 Guidance

    The Company is providing the following outlook for 2009:

                                           2009 Range              2008

    Medical enrollment fully-insured
     (member months)                  9,530,000    9,950,000    9,904,691

    Medical enrollment self-insured
     (member months)                  4,450,000    4,545,000    2,426,115

    Consolidated operating revenues
     (in millions)                     $1,855.0     $1,930.0     $1,770.9

    Consolidated loss ratio               83.7%        84.7%        84.6%

    Medical loss ratio                    88.0%        89.0%        88.9%

    Consolidated operating expense ratio  15.0%        15.4%        14.7%

    Consolidated operating income
     (in millions)                        $88.5        $97.0        $84.1

    Consolidated effective tax rate       26.0%        27.0%        22.0%

    Earnings per share (includes
     $0.07 net of tax in new IT                                   (Pro forma)
     system expenses)                     $1.88         $1.98        $1.83

    Weighted average of diluted
     shares outstanding (in millions)      30.5          
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SOURCE Triple-S Management Corporation
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