AUSTIN, Texas, May 15, 2002 (PRIMEZONE) -- American Physicians Service Group, Inc. ("APS") (Nasdaq:AMPH) today announced that it had received a request from the Securities and Exchange Commission to provide information related to its accounting for its investment in the common stock of a privately held physician practice management company. American Physicians announced on April 17, 2002 that it had restated its 2000 earnings to reflect a revised valuation of this common stock following a significant impairment of the investment.
The Securities and Exchange Commission is asking the Company to voluntarily provide information and has indicated that it has not determined that the matters under inquiry involve any violations of federal securities laws.
APS is a management and financial services firm with subsidiaries and affiliates which provide: medical malpractice insurance services for doctors; brokerage and investment services to institutions and high net worth individuals; and dedicated care facilities for Alzheimer's patients. The Company is headquartered in Austin, Texas and maintains offices in Dallas and Houston.
For further information, visit APS' Website at www.amph.com or contact:
Mr. Kenneth Shifrin, Chairman of the Board (or) Mr. W. H. Hayes, Sr. Vice President - Finance American Physicians Service Group, Inc. 1301 Capital of Texas Highway, C-300 Austin, Texas 78746 (512) 328-0888