Investor Group Completes Transaction

INDIANAPOLIS, March 13  /PRNewswire-FirstCall/ -- Standard Management Corporation ("Standard Management" or the "Company") (OTC: SMAN; SMANP), an Indiana based management company, announced today that a Nevada investor group has purchased the remaining 17 million shares of Standard Management common stock. The previously announced 20 million share purchase was subject to certain conditions of which have now been met.

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Ronald D. Hunter, Chairman, President and Chief Executive Officer stated, "It is a rare opportunity to have a group of investors with a value added philosophy."

Standard Management is the managing partner of Universal Healthcare Company, LLC and has a management agreement for the daily operations of Universal.

Cautionary Note Regarding Forward Looking Statements

This press release contains "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933. The use of the words "believe," "expect," "anticipate," "intend," "may," "estimate," "could," "plans," and other similar expressions, or the negations thereof, generally identify forward-looking statements. Forward-looking statements in this press release include, without limitation, the performance and growth of our business, potential future acquisitions, and their impact on the Company's performance. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors, which could cause actual results to be materially different from those contemplated by the forward-looking statements. Such factors include, but are not limited to, our ability to expand our health services business both organically and through acquisitions, including our ability to identify suitable acquisition candidates, acquire them at favorable prices and successfully integrate them into our business; general economic conditions and other factors, including prevailing interest rate levels and stock market performance, which may affect our ability to obtain customer response to new products, distribution channels and marketing initiatives; and increasing competition in the sale of our products.

We caution you that, while forward-looking statements reflect our good faith beliefs, these statements are not guarantees of future performance. In addition, we disclaim any obligation to publicly update or revise any forward- looking statement, whether as a result of new information, future events or otherwise, except as required by law.

Standard Management is a holding company headquartered in Indianapolis, Indiana. Information about the Company can be obtained by calling the Investor Relations Department at (317) -574-6224 or via the Internet at http://www.sman.com/. 

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DATASOURCE: Standard Management Corporation



CONTACT:  Matthew Katz of Standard Management Corporation,

[phone]



Web site:  http://www.sman.com/

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