SCPIE Holdings Announces California Department of Insurance Has Authorized Acquisition of SCPIE Holdings Inc. by The Doctors Com

  
    
  
  
    
      SCPIE Holdings Inc. (NYSE:SKP), a major provider of healthcare 
      liability insurance, today announced that, with regard to the merger of 
      SCPIE Holdings Inc. into a wholly owned subsidiary of The Doctors 
      Company, the California Department of Insurance has concluded its review 
      and closed its file without disapproval, thereby authorizing the 
      acquisition. Closing is expected to take place on Monday, June 30, at 
      which time SCPIE Holdings will be delisted from the New York Stock 
      Exchange.
    
    
      Effective as of the closing of the merger, each outstanding share of 
      SCPIE common stock will represent the right to receive $28.00 per share 
      in cash, without interest.
    
    
      Additional information on SCPIE Holdings and the merger can be found on 
      the Company’s website: www.scpie.com.
    
    
      Forward-Looking Statements
    
    
      This news release contains forward-looking statements that involve 
      material risks and uncertainties. Such forward-looking statements, 
      including, but not limited to, statements relating to the consummation 
      of the proposed transaction and the terms and timing thereof, are 
      subject to change based on factors beyond the control of SCPIE. Risks 
      and uncertainties regarding the transaction include the possibility that 
      the closing does not occur, or is delayed, either due to the failure of 
      closing conditions, including the failure to obtain required regulatory 
      approvals, or other reasons. Other factors that may cause actual results 
      to differ from the forward-looking statements contained herein and that 
      may affect the Company’s prospects are 
      included in the Company’s other filings with 
      the SEC. SCPIE expressly disclaims any obligation to publicly release 
      any updates or revisions to any such forward-looking statement to 
      reflect any change in its expectations or any change in events, 
      conditions or circumstances on which any such statement is based.