Universal American Announces Record Date and Special Meeting to Vote on Sale of Medicare Part D Business to CVS Caremark

Universal American Corp. UAM announced today the record date and meeting date for a special meeting of its shareholders to consider and vote upon the proposal to adopt the previously announced definitive agreement, dated as of December 30, 2010, providing for the acquisition of the Company's Medicare Part D business by CVS Caremark and other matters set forth in the definitive proxy statement that will be mailed to the Company's shareholders promptly after it is finalized. The Transaction is subject to customary closing conditions, including approval of Universal American shareholders and state regulatory approvals, and is now expected to close by the middle of the second quarter of 2011.