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I have tried several variations of sed with no luck.

sed 's/...99999/88888/'

This was close except it replaced the first 8 characters with only 5.

-----Post Update-----

Nevermind, I...

I am trying to use sed to replace specific characters at a specific position in the file with a different value... can this be done?

Example:

File:
A0199999123
A0199999124
A0199999125
...