Standard Management Corporation Appoints Chief Accounting Officer

INDIANAPOLIS, Oct. 12  /PRNewswire-FirstCall/ -- Standard Management Corporation ("Standard Management" or the "Company") (OTC:SMANOTC:SMANP) (BULLETIN BOARD: SMAN, SMANP)  an Indianapolis-based provider of pharmaceuticals to the long-term care and infusion therapy industry, announced today the appointment of Daniel K Calvert as Executive Vice President, Chief Accounting Officer.

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Mr. Calvert holds an MBA in Finance from Michigan State University and a master's in Taxation from University of Baltimore.

Ronald D. Hunter, Chairman, President and Chief Executive Officer stated, "Mr. Calvert brings extensive experience as a Chief Financial Officer for diversified national and international companies."  Mr. Hunter further stated, "Mr. Calvert's disciplines in finance, taxation and financial analysis, along with strategic development experience, will enable the Company to develop people and processes at a higher level.  Standard Management is fortunate to attract a person of this caliber," Hunter concluded.

Mark Long, Executive Vice President, Pharmacy Operations, commented, "The addition of Mr. Calvert raises the ability for Standard Management to compete nationally, leveraging off the success Mr. Calvert has had in integrating acquisitions."  Mr. Long further commented, "It is rare a CAO has experience in technology, fulfillment and strategic assessment; a true addition to the team."

Standard Management is a holding company headquartered in Indianapolis, IN.  Information about the Company can be obtained by calling the Investor Relations Department at 317-574-2059 or via the Internet at http://www.sman.com/ . 

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DATASOURCE: Standard Management Corporation



CONTACT:  Ron Hungerford, Investor Relations of Standard Management,

[phone]



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

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