The Stilwell Group Responds to SCPIE's Mischaracterization

NEW YORK, June 5  /PRNewswire/ -- The Stilwell Group announced today that it is continuing to solicit proxies to vote for its three nominees for director at the June 22, 2006 annual stockholders meeting of SCPIE Holdings Inc.  Contrary to SCPIE's press release issued earlier today, the Stilwell Group believes that it has fully and timely complied with all requirements of the Delaware Insurance Code applicable to its proxy solicitation and that the proxies it receives, when presented at the meeting, will be valid.  Joseph Stilwell commented, "This is a desperate attempt by SCPIE's management to scare its owners and to distract attention from their dismal multi-year financial results.  As directors are elected by a plurality of the votes cast, the nominees recommended by SCPIE's management will be elected unless more votes are cast for our nominees than for theirs.  We look forward to attending the annual meeting and voting the proxies entrusted to us by fellow owners of our company." 

DATASOURCE: The Stilwell Group



CONTACT:  Mr. Joseph Stilwell, [phone], Stilwell Group

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