SCPIE Holdings Inc. Announces Completion of Merger

  
    
  
  
    
      SCPIE Holdings Inc. (NYSE:SKP), a major provider of healthcare liability 
      insurance, today announced the completion of its merger with The Doctors 
      Company.
    
    
      On October 15, 2007, SCPIE entered into a merger agreement with The 
      Doctors Company which called for SCPIE stockholders to receive $28.00 in 
      cash, without interest, for each share of SCPIE common stock held. The 
      transaction was approved by SCPIE’s 
      stockholders on March 26, 2008. The total transaction is valued at 
      approximately $296 million.
    
    
      As a result of this transaction, SCPIE’s 
      common stock will cease to trade on the New York Stock Exchange at 
      market close today, June 30, 2008, and will thereafter be delisted.
    
    
      As soon as practicable, BNY Mellon Shareowner Services, the transfer 
      agent appointed for the transaction, will mail letters of transmittal to 
      all of SCPIE’s stockholders of record with 
      instructions on how to deliver their shares to the transfer agent in 
      exchange for payment of the merger consideration to be distributed 
      shortly after closing. Stockholders of record should not surrender their 
      stock certificates until they have completed the letter of transmittal. 
      Stockholders who hold their shares in “street 
      name” through a bank or broker should contact 
      their bank or broker to determine what actions they must take to have 
      their shares converted into cash, as such conversions will be handled by 
      the bank or broker.
    
    
      About SCPIE Holdings
    
    
      SCPIE Holdings Inc. is a leading provider of healthcare liability 
      insurance for physicians, oral and maxillofacial surgeons, and other 
      healthcare providers, as well as medical groups and healthcare 
      facilities. Since the company was founded in 1976, it has carved out a 
      significant niche in the insurance industry by providing innovative 
      products and services specifically for the healthcare community. 
      Additional information on SCPIE Holdings can be found on the company’s 
      website: www.scpie.com.
    
    
      About The Doctors Company
    
    
      Founded by doctors for doctors in 1976 to advance, protect, and reward 
      the practice of good medicine, The Doctors Company (www.thedoctors.com) 
      is a leading physician-owned medical malpractice insurer. With $2.2 
      billion in assets, 32,000 physician members nationwide, and an A- rating 
      by A.M. Best Company and an A rating by Fitch Ratings, The Doctors 
      Company enjoys a reputation as an industry vanguard.