The Seibels Bruce Group, Inc. Announces Results of the Shareholder Vote at the Special Meeting of Shareholders

The Seibels Bruce Group, Inc. Announces Results of the Shareholder Vote at the
Special Meeting of Shareholders 


COLUMBIA, S.C., Feb. 27  /PRNewswire-FirstCall/ -- The Seibels Bruce Group,
Inc.,  (BULLETIN BOARD: SBIG)  today announced the results of the shareholder
vote at the Special Meeting of Shareholders to amend the Company's Articles of
Incorporation to effect a 1-for-1,000 reverse stock split of the Company's
common stock and pay $3.00 per share to the holders of shares that would be
converted to a fraction of one share.

"We are pleased to report that our shareholders have approved the proposed
amendment that enables Seibels Bruce to terminate its obligation to make annual,
periodic and other filings with the Securities and Exchange Commission," said
Michael A. Culbertson, president.  "We anticipate going private will result in a
significant and recurring reduction of expenses that will provide value for our
remaining shareholders."

The Seibels Bruce Group, Inc., headquartered in Columbia, South Carolina, is a
holding company for four property and casualty insurance companies that offer
commercial, nonstandard automobile and homeowners insurance.  In addition,
Seibels Bruce offers claim administration services to insurance companies and
other businesses through INS; flood zone determination services through
America's Flood Services, Inc.; and managing general agency services through
Seibels, Bruce & Company.  Additional information about Seibels Bruce can be
found online at http://www.seibels.com/.

Certain items in this press release constitute forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995 and as such
involve known and unknown risks, uncertainties and other factors which maycause
the actual results, performance or achievements of Seibels Bruce or its
subsidiaries to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.  Such
forward-looking statements speak only as of the date of this press release. 
Seibels Bruce expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward- looking statements contained
herein to reflect any change in Seibels Bruce's expectations with regard thereto
or any change in events, conditions or circumstances on which any statement is
based. 

DATASOURCE: The Seibels Bruce Group, Inc.



CONTACT:  Jennifer P. Davis, Corporate Communications of Seibels Bruce

Group, Inc., [phone], or fax, [phone], or email,





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

Copyright