Ceres (NASDAQ:CERG)
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Lunn Resigns from Ceres' Board of Directors
CLEVELAND, March 19 /PRNewswire-FirstCall/ -- Ceres Group, Inc. today
announced that Robert Lunn has resigned from its Board of Directors effective
immediately. The board is currently conducting a national search to identify a
qualified candidate to fill the vacancy created by Lunn's resignation.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000315/CRLOGO )
Lunn, a director since February 2001, indicated that expanded business
commitments prevented him from continuing to serve as a director for the
company. "I would like to personally thank Bob for his service on the board,"
said William J. Ruh, Ceres' chairman. "We appreciate his support and commitment
to Ceres over the past three years, and wishhim well in his future endeavors."
About Ceres Group
Ceres Group, Inc., through its insurance subsidiaries, provides a wide array of
health and life insurance products through two primary business segments.
Ceres' Medical Segment includes major medical health insurance for individuals,
families, associations, and small businesses. The Senior Segment includes
senior health, life and annuity products for Americans age 55 and over. To help
control medical costs, Ceres also provides medical cost management services to
its insureds. Ceres' nationwide distribution channels include independent
agents and its electronic distribution system. For more information, visit
http://www.ceresgp.com/ .
This news release contains certain forward-looking statements with respect to
the financial condition, results of operations and business of the company.
Forward-looking statements are statements other than historical information or
statements of current condition. In light of the risks and uncertainties
inherent in all future projections, the inclusion of forward-looking statements
herein should not be regarded as representation by the company or any other
person that the objectives or plans of the company will be achieved. Many
factors could cause actual results to differ materially from those contemplated
by such forward-looking statements, including, among others, failure to
accurately predict claims liabilities, rising healthcare costs, business
conditions and competition in the healthcare industry, developments in
healthcare reform and other regulatory issues (including failure to meet
statutory capital requirements), adverse outcomes in litigation, ability to
develop and administer competitive products, performance of our reinsurers and
failureto comply with financial and other covenants in our loan agreements, and
the failure to successfully implement the business plans for the company and its
subsidiaries. This review of important factors should not be construed as
exhaustive. Investors and others should refer to Ceres' filings with the
Securities and Exchange Commission, including its annual report on Form 10-K for
the year ended December 31, 2003, and its quarterly reports on Form 10-Q and
other periodic filings, for a description of the foregoing and other factors.
Ceres undertakes no obligation to update forward-looking statements to reflect
events or circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
http://www.newscom.com/cgi-bin/prnh/20000315/CRLOGO
http://photoarchive.ap.org/
DATASOURCE: Ceres Group, Inc.
CONTACT: Gayle M. Vixler, Senior Vice President of Ceres Group,
+1-440-572-8848
Web site: http://www.ceresgp.com/